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Online Casino Industry in Black Hole

The US online casino gambling market is a pretty interesting place – there are a lot of options out there for gamblers despite the fact that the US has Federal legislation in place designed to keep foreign gambling sites from operating in the market. They are still there. What has happened though is that the major gambling brands – some of the largest online casinos and software development companies, have backed out of the market in respect for the US laws, in fear of fines, and in the hope that once a licensing regime comes into place that these sites will obtain a license to operate legally. Not all internet casinos though were willing to abandon the highly lucrative US internet gambling industry – there are still many sites out there right now operating for US gamblers, and gamblers are flocking to the sites because they are the only options on the market right now.

Now, there are certainly some strong brands still in the US market. Bodog is a top brand, the company had a lot of media attention for the previous owner’s loud antics and strong point of view, but now, the company just stands as a great gaming site that has managed to effectively circumvent the US authorities and continues to process financial transaction between the online casino and poker site and the players. But not all companies are as scrupulous as Bodog, some gambling sites are much smaller names that have seen a prime opportunity now that the big online casinos have left the market.

The problem with the whole situation is the regulatory black hole that these sites operate under. Although there are many online casinos with scruples, there are others that seemingly close down overnight and take the account balances with them. And in the current regulatory setup, there is no way for gamblers to seek those funds, they are lost. It seems as though the currently flawed regulations have only succeeded in making the internet gambling industry more dangerous for US gamblers rather than providing protection.