Right now, a wave of legalization is passing through the United States as more and more legislators have started listening to their constituents and realized that legalizing gambling is the right way to go. State by state, the laws surrounding gambling online and in-person have been reassessed and, more often than not, repeatedly legislated on.
This type of domino effect of legalization has also been seen in East Asia, as more and more countries have legalized gambling both online and in-person. It appears that as more countries were able to successfully legalize gambling, launch effective licensing systems, and collect tax revenue from the gambling, other countries took note.
It appears that something similar is happening in the United States. As more and more states are able to effectively legislate for online gambling and begin collecting much-needed tax revenue from the online casinos, other states are taking note. A similar effect has been seen in the United States regarding the legalization of certain drugs like marijuana, and it is likely that the trend will continue as an increasing number of states realize just how beneficial gambling can be for state coffers.
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Online gambling and legislation in East Asia
The growth of online gambling across East Asia is very interesting to watch, as, historically, gambling has been illegal in many East Asian countries but remains a very popular pastime. Gambling is not currently legal in China, but many Chinese gamblers are able to sidestep regulations using data and VPN blockers in order to access online casinos in China.
Previously, gamblers would have to travel to Macau, Singapore, or even further abroad in order to gamble. Technological advancements have made it much easier for gamblers in China to gamble from the comfort of their own homes. However, this is clearly an imperfect solution and hopefully gambling legislation will be reviewed in China so that more players are able to enjoy the pastime without having to resort to using IP blockers and other veiling technology.
Apart from China, there are many East Asian countries which have legalized gambling and are encouraging the industry to continue growing. Vietnam has a skyrocketing GDP and its casino industry is also booming, as are the online gambling industries in Taiwan, Singapore, Hong Kong and Cambodia.
Countries such as Malaysia and Laos are, like China, still not open to a legalization of gambling. However, it is possible that the benefits of legalizing gambling will soon become clear and encourage these other countries to revisit their casino and gambling regulations.
The increasing trend of legalization across the United States
Online gambling has slowly spread across the United States as more and more gamblers learn about geo-blocking technology and give it a try, just like in China. However, state and local governments are also reviewing their legislation and taking another look at whether or not their gambling legislation could be liberalized.
American states have started to realize just how beneficial online gambling can be for the state, as it generates a significant amount of tax revenue. Municipal budgets across America are under pressure and legislators are looking for a convenient and quick way to generate funds. It is entirely possible that more states will begin looking at the successes which countries like Vietnam and Cambodia have had regarding online gambling and decide to revisit their online casino regulations.
Online gambling: Taking the world by storm
Over the course of the last 10 years, online gambling has grown to be extremely popular. The very first digital gambling games were created in 1994 and were incredibly clunky, awkward and difficult to play. Since then, the technology has advanced significantly and online casinos are now sleek, reliable, easy-to-use digital platforms.
The online casino industry had been steadily growing in popularity for over 10 years, but it suddenly became extremely popular due to the global health crisis which rocked economies around the world for the last year and a half. Suddenly millions of people around the world were unable to leave their homes and visit their local brick-and-mortar gambling establishments.
Since then, the online gambling industry has become extremely popular across East Asian countries and the United States where it is legal. As the industry becomes even more popular, it is likely to further push legislators to reconsider their stance on gambling. In fact, the online gambling industry is, according to market analysts, going to continue its meteoric rise in popularity.
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