The world of gambling and casinos is getting more accepted by government officials worldwide. The level of acceptance is such that it’s rather hard to believe that a person could hang or suffer in prison just for placing a bet a few decades ago.
According to 2021 data obtained from the UK gambling commission, over 2,000 gambling companies have licenses. In the US, there are over 400 legal casinos. These numbers might seem significant, but they are nowhere near the number of people who gamble. Statista reported that roughly 26% of the world’s population was involved in gambling in 2021.
Some punters prefer the banters and chatters of a betting house. Others are in love with the casino house experience, and some want privacy, so they bet on sports or casino games online. All these classes of people have contributed to making the gambling industry the mega revenue generator it is today.
But with over 1.5 billion people involved in gambling, there’s always a feeling of apprehensiveness from people in power. That’s why the various governments have put in place strict regulations to guide the activities of gambling and casinos.
These laws and regulations vary from one country to another. In the United States, there are specific laws and regulations on casinos and gambling that every punter must know. Having a great understanding of these laws will ensure you don’t end up in legal trouble.
Important Casino and Gambling Laws Every Punter Should Know
These are some laws and regulations that every punter should and must know.
1. Age
This is the first and most important law in betting. Underage betting can land you in so much trouble. In some countries, you can even serve jail time for underage betting. Before making a bet in any country, you should first check the legal age for betting there before placing a bet.
In most countries, the least age to qualify for betting is 18. But you can’t be so sure, as countries like Malaysia and India require people who live in their territory to be at least 21 before they are eligible to place a bet.
2. You Can’t Bet On Every Type Of Game
One notable thing about casinos and gambling is their versatility. There is a wide range of games to bet on, but sometimes, these games might not be available to you.
Some countries and states do not allow certain gambling or casino games under their license. For example, slot machines and table games involving cards and dice are illegal in West Virginia.
3. You Can Be Jailed for Illegal Betting
Illegal betting is a grave offense. The government is always looking for punters who are betting illegally. People who bet illegally risk paying a hefty fine, and in many countries, they could even be jailed.
4. Gambling Online is Not Illegal
Gambling online is legal in almost all countries in the world. In the United States, you can gamble and play casino games online. However, you must ensure to pay your taxes after every win.
5. It is Legal to Gamble For People and Let Others Gamble For You
There is no law stopping you from gambling on behalf of others or letting others gamble for you. But if you are receiving payment as a form of income from these activities, you’ll have to pay tax.
6. Casino and Gambling Organizations Can Cancel Your Bet Anytime
It is well within the rights of a casino house to send you out of a casino house for whatever reason they might have. A sportsbook can also cancel your bet, provided they return your wager.
This action is legal, and sorry, there’s absolutely nothing you can do about it.
7. Suing a Casino For Your Losses is a Waste Time
Harry Kakavas decided to sue Crown Casino after losing over a billion dollars in the space of a year. He believed the house had lured him using different tactics and allowed him to lose millions of dollars.
The court ruled in favour of the casino house and warned that it would not protect lousy gamblers.
The Bottom Line
These laws are there to protect you. To ensure that you don’t fall victim to fraud or illegality. Many people see sportsbooks and casinos as a money-making scheme, and why they could offer you a chance to make great winnings and earn a good income, there is also no guarantee you will be successful at gambling.
Knowing these laws can help you escape legal problems as a punter and prepare you for the reality of what it means to be a gambler.
