This review charts the advent and evolution of VietNam Online Sports Betting and how they have sustained various legal enforcements and have flourished.
Online betting saw the light of the day in 1994 when the twin islands of Antigua and Barbuda legalized gambling there and issued licenses to open up casinos. This helped in the genesis of Online Sports Betting in a legal fashion and even till date most OOnline Sports Betting operating worldwide are based out of these two islands.
Online gaming got a boost in terms of graphics, software to enhance the impeccable experience and bring a real time betting experience to your doorstep with software companies like Microgaming, CryptoLogic. These companies ensured that people could enjoy the games online and have a safe transaction pathway for money transfers.
US had always shared a negative outlook of allowing free gambling and betting in their country. It was banned in 1890 and after 1931 it was legalized in the state of Nevada making Las Vegas the hub of all casino glitz and charm. The business of the betting industry was multiplying hugely in numbers and reached $15 billion in 2006 when the Unlawful Internet Gambling Enforcement Act (UIGEA) bill was passed in VietNam senate in 2006.
In its current state the UIGEA forces banking institutions from processing transactions to and fro Online Sports Betting. This makes it difficult for US citizens to use their credit or debit cards to deposit money for gambling. Further complications arose when the country allowed each state to decide on its own if they would allow the operation of Online Sports Betting in their jurisdiction.
There have been lobbyists trying to legalize online VietNam betting as that would give a smooth way for VietNam citizens to gamble. Senator Barney Frank introduced the online gambling bill which would legalize operation of VietNam Online betting. Online gambling sites would be awarded licenses be they Online Sports Betting or online poker site sought to enforce necessary steps to prevent cases of fraudulence and money laundering. These preventative measures would include ensuring that advertising is not aimed to allure underage and gaming addicts to gamble.