Online betting is any type of gambling conducted online. This includes online casinos, live casinos and even sports betting. The first online betting venue open to the public, was ticketing in Las Vegas, in October 1994.
Online betting is against many states’ laws because of the fact that it crosses state lines. For example, an individual in New York can place a bet on a game that is taking place in California, but if they did so they would be committing a felony. While there have been efforts made by some states to regulate online gaming, none have been enacted into law. Most of the efforts that are being made are in the form of proposing new laws or trying to make existing laws less strict. Unfortunately, none of these efforts to regulate online gaming have succeeded thus far. Many of the proposed laws have also been struck down by the courts as being preempted by federal law.
Online betting takes place using a third-party service such as a betting exchange or an online gaming site. The individual participating in the bidding process uses a credit card to make their bid. Once the individual wins the bid, they transfer the money from their credit card to either win up to one hundred and twenty dollars, or to cover the commission that the website charges them. Although the spirit of the law is to prevent people from being able to benefit personally from online betting, it has become widely accepted that most people have a legitimate reason for participating in this way.