Sports bodies and governments are looking at online betting as source of revenue

Before around ten years, some countries had banned online gambling and sports betting sites. Today, most of those countries are about to legalize betting. Let’s take a look at some points to understand how online gambling’s fortunes are changing. Now, some governments and sports groups are looking at internet gambling as a source of revenue.

Canadian states expecting increase in revenue due to online betting

The Canadian province of Ontario has recently shown green lights to online betting. Now the province is expecting this industry to earn big, and help it with much needed cash. Even the province’s Lottery and Gaming Corporation website is attracting gamblers. Experts suggest that this will bring confidence and trust in the market.

Experts also pointed out that the province is home to around half million gamblers who prefer Agen bola online gambling instead of physical casinos. The authorities believe that during the next five years, they can make additional revenue of around $300 million in taxes from gambling.

Other Canadian provinces like the Atlantic, Quebec, Manitoba, and British Columbia already offer online gambling with casino style games such as poker, baccarat, blackjack, and slots. Some of these sites owned by provinces also offer instructional programs that can teach new players to play.

Ontario Lottery and Gaming Corporation said in its recent statement that their gambling site protects the user’s privacy. The site is safe, regulated, and users can set a limit for the amount of funds that they wish to use in gambling every week.

But critics have a different set of opinions. They believe that this will promote gambling addiction. They also pointed out that the province needs more than $10 billion to manage its deficit this year.

New Jersey State’s new code to differentiate between legal and illegal gambling

In April 2015, Nevada State took one positive step that can give new life to legal online casinos. The state has introduced a new merchant code for transactions made at legal casinos. This will help banks and financial institutions to differentiate between legal and illegal casino charges. Earlier, banks used to reject almost all the charges made at online casinos as both legal and illegal casinos used 7995 as transaction code. Now, the state has introduced code 7801 for legal online gambling transactions.

Card issuers like Visa, AMEX, MasterCard and Discover have agreed to use the new code for transactions. Now, internet gambling sites are feeling positive and believe that other states may soon follow NJ in implementing new transactions codes for legal online gambling.

NBA commissioner wants sports betting to be legalized

A few years ago, professional sports leagues were always against betting. Everyone was super surprised when the NBA joined hands with a partial gambling site FanDuel and its commissioner suggested that sports gambling should be legalized.

The NBA also made it in the headline recently when its commissioner Adam Silver shared his opinion that sports lovers are looking for a legal and safe way to gamble on sports events. He also pointed out that sports betting should be legalized and it should remain regulated and monitored.