Online Gaming Laws and Regulations
In countries like Canada and the U.K. online gaming is legal and players have little to no difficulty playing online slots and performing online banking tasks. In the U.K. online gaming is not only legal but also regulated by the government. Players have no worries about the legitimacy of an online slots provider as long as they’ve been approved to operate within the country.
Players in countries like these can choose from trusted sites like Bodog and Slots.lv to play online slots without the fear that their money is not safe or that the games are unfair. In the United States most states don’t have anti-gaming laws and players can make bets and play slots online without much difficulty. The United States does have laws that prohibit banks from doing business with online providers, so many American-based players need to choose where they play wisely.
For many United States players finding a good online gaming provider that offers lots of banking options can be a tough thing to achieve. When many offshore providers left the United States market following the introduction of the Unlawful Internet Gambling Enforcement Act online slots game players in the country had few options left from which to choose.
Some sites like Bovada continue to provide United States players with online services and have taken extra steps to make sure players can get their deposits and withdrawals completed without hassle. Despite the government trying to make it difficult to move funds through user accounts into bank accounts it is all legal for players to do.
Who has to pay taxes on online slots game winnings?
Paying taxes on gaming winnings is another widely misunderstood aspect of online gaming. Whether one pays taxes on winnings depends on where they’re located. Some counties have regulated and taxed winnings while others choose to ignore taxation on gaming winnings both online and with other forms of gaming.
Countries like the U.K. have regulated online gaming and take a percentage of revenues from the providers as taxation. Players do not have to pay taxes on winnings as the governments draw their share from the providers. This method of taxation makes it easier for the governments to draw their piece of the pie without having to tax every sizable win a player may have.
Canadian local governments do not tax any forms of gaming winnings and they currently don’t draw revenues from online gaming. No revenue system is in place at this time, and when it comes to getting their share of the online gaming market some Canadian provinces have instead looked to increase their provincial gaming options by providing more online games to their citizens.
These provincial gaming options are usually run through the online provincial lottery corporations. These gaming options are still in their infancy compared to online casinos like Bodog that are easily available to Canadian players.
Where are online slots illegal?
There are a few places where it’s illegal to play slots online. A few countries like Turkey and France have made it illegal to gamble online, while others have certain regions or districts where online gaming is illegal, usually in order to protect current land-based gaming endeavours. If you’re travelling into a foreign country, and want to enjoy some of your favorite slots games online, it might be worth the time to make sure it’s legal to do so in the country you are in at the time.
In the United States there are a couple of states like Hawaii and Utah where every form of gambling is illegal, and a few others like Washington that have outlawed online gaming. These states might have native reserves that have legal casinos within state borders, so like when travelling to a foreign country it makes sense to check local state laws before playing slots online in the United States.
The United States online gaming market continues to open up as more states work towards offering state-regulated online gaming industries. So far three states, Nevada, New Jersey and Delaware, offer regulated play of some games, and others will follow in the coming months and years.