Sports Betting Schemes – What’s Next?

Online sports betting is the act of placing a bet on the result and predicting the outcome of a particular sports event. Sports betting is a very popular past time in many countries. It is the one of the most widely played sports and also one of the most popular forms of gambling. The frequency of individual sports bets varies greatly by country, with the bulk of bets being placed on games which are of general importance to the nation.

In the United States state of New Jersey it has been illegal for online sports book operators to make wagers on any game involving sport, although they may offer advisory and informational bets. This law was passed in Response to The Unlawful Activities Along With Betting of Betting (UUAB) Act of 1977, which made gambling on sporting events against the law. A UUAB Attorney stated that this new law would only affect licensed bookmakers of soccer, American football and basketball games. Although there have been a number of efforts to legalize sports betting in the U.S. state of New Jersey, no significant change has occurred. Although this law did not affect professional sport, many fans and professionals wish that the law be changed so that they can place their sports bets. See here a list of the best sports betting sites.

There are many online sports betting sites which operate within legal sports betting states and there are also several go live operators who allow bettors to place their bets live within the stipulated time limit and in the same environment as the match is taking place. These operators however are not licensed to run sports betting games in other countries or to deal with any currency. If you are a fan and you want to bet on your favorite team or in a particular game, it is best to go through an online sports betting site which is licensed to do so in your home state.

The UIGEA was first introduced by the Federal Trade Commission of the United States as soon as December last year. This came into being after several complaints were received by various organizations and individuals against online and offline bookmakers who were conducting business through transfers of funds in violation of the law. As a result of these complaints, the Federal Trade Commission stepped in and initiated the UIGEA with a view to make sure that all online activities related to gambling were in compliance with the law. With regard to the UIGEA, all online sports books that accept bets and/or transfers of funds from one customer to another must either be licensed by the state in which they are operating or they must register with the government in which they operate and comply with all the stipulated laws applicable in that particular state. The UIGEA basically prohibits the transfer of any monies from a consumer to a non-consenting party. However, there are a few exemptions provided in the UIGEA for certain interactive Gambling Online websites.

As per the United States Department of Justice, the players of professional sports leagues or teams cannot be penalized for acting in accordance with the rules of the game if they are doing so in accordance with the rules of normal betting. However, the new regulation brought in by the UIGEA, which is not directly aimed at the players but at the bookmakers, may put them out of business as it makes it very difficult for them to continue their businesses, as there will be no money coming in from sports betting. Moreover, the UIGEA also allows for restrictions on payments to professional sports leagues and certain organizations involved in international soccer. The ban on paying out the integrity fees of professional sports leagues comes in for a double blow to the bookmakers. Since these rights are protected by federal law and since the players’ associations have ensured that they would never let the players pay them out, the players will never be able to make use of these rights to make a settlement. The ban on paying out the integrity fees also makes it impossible for the players or clubs to gain access to these rights.

Nevertheless, even though the above mentioned points are a part of the new regulation and might put the bookmakers out of business, the number of sportsbooks still continues to grow daily as people realize the benefits that come with sports betting. Today, you can find a lot of websites and portals offering wagering on just about every sport event imaginable. As long as the UIGEA remains in place, these operators will be able to stay in business and continue to provide their services to the customers. Check out this related post to get more enlightened on the topic:

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Create your website with
Get started
%d bloggers like this: