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US bettors spent $2.6 billion gambling online

US bettors spent 2.6 billion gambling online

According to a study released by the American Gaming Association as part of a new effort to force Congress to regulate the online gambling industry, in 2012 American bettors spent $2.6 billion on gambling and betting websites.

According to the AGA, the study shows the need for a federal law to regulate and control online gambling and remove it from its current grey-area ambiguous state. The ame study also shows the worldwide online gambling industry is worth approximately $33 billion.

According to the US Justice Department, which considered all forms of online gambling illegal up until late 2011, now only sports betting should be considered illegal under the 1961 Wire Act. This position opened the door for American gamblers an land-based casinos to push for a regulated online casino and poker industry to come in effect.

Chief Executive of the American Gaming Association, Geoff Freeman, stated: “Americans account for nearly 10 per cent of the global online gaming marketplace at a time when the business is illegal in all but three American states. It is past time for policymakers to put necessary safeguards in place.”