In the 1990s, online gambling sites became immensely popular. The unregulated nature of online gambling allowed operators to establish offshore operations, allowing anyone with a web browser and a credit card to place bets. However, the United States government was not pleased with the proliferation of these sites. The Department of Justice and Congress looked into ways to regulate online gambling.
Currently, there are no federal laws restricting online gambling. However, individual states can pass legislation that supersedes federal regulations. For example, in Nevada, online poker and casino games are allowed. There are also proposals in states such as California, Pennsylvania, and Delaware, which are looking into legalizing online gambling.
While online gambling can be risky, it can also be lucrative. For example, some people may prefer to play daily fantasy sports in which they draft their own team, place wagers on those teams, and get paid for it. These games are available at any time of the year and can be played against only one opponent, or a multitude of opponents in a league format. These games are available in a number of sports, including NFL, NBA, MLB, NCAA basketball, and NHL.
In the near future, federal legislation is likely to legalize internet gambling. While it’s unlikely to happen right away, it will mean a mini-gold rush for the big gaming casinos, including Caesars Entertainment Corp. (CZR) and MGM Resorts International (MGM). Once legalized, these sites will offer virtually every type of online game imaginable. In the meantime, many groups including the NFL, Native American tribes, and charitable organizations are keeping an eye on the situation.