US Online Gambling Market Growing

If you are a fan of gaming and in the US then you know how many problems there have been with laws. As of right now the UIGEA is still in effect. This is a bill that makes moving money for online gambling illegal. It tasks banks with the responsibility of watching gaming and how it works in the market. Banks have to scrutinize all transactions and if they are akin to gambling, they have to deny them. If they don’t they are under the threat of hefty fines and seizure of the money involved. This make banks overly cautions about gambling activities and they have been caught denying transactions that should by all legal purposes have gone through. The problem is the UIGEA and most experts claim that without some reworking of the bill, the problems will continue to occur. Of course there are legislators working to amend the bill, but whether or not they are going to continue to push for change has yet to be seen. It is a difficult time for gambling in the US.

There is research now behind the cause of changing the UIGEA though. A new study done by CompScore showed that online gambling is growing exponentially in the market with US players. In fact, the market saw a 20% growth rate just this past month. That is a huge jump in activity. It could be a sign of the end of the recession and people returning to their old ways of wagering at land based and online casinos. It could be that people want to return to their old gambling habits and are seeing enough change in the market that they feel confident to do so. Either way there were almost 15,000 new unique visitors to gambling websites according to the research done by ComScore. If the market continues to grow at that rate, it could mean disaster if US legislators don’t start pushing for legalization and regulation of online gambling. Without US options, gamers are going to move t offshore gambling companies and in turn fuel their millions of dollars out of the country. Only time will tell where the market is going, but research is showing that legislators need to prioritize gambling law.