If you want to take part in online casino gambling, you have to play by the rules. Online casinos cannot allow players to wager more than a specified maximum amount. Online casinos should also not give bonuses or payouts in real time. If they do, the player has to physically visit the casino to withdraw the winnings. Finally, online casinos cannot allow players to spend money from their accounts for gambling purposes. This is considered to be an abuse of trust and a violation of the rights of the gambling site.
There’s no doubt that the latest actions by the Federal Trade Commission against casinos is a big blow to the gaming industry. This kind of regulation, if it goes into effect, will seriously affect the online casino business. The death watch is only temporary, however. In the long run, online casinos will simply comply with the new regulations and there shouldn’t be major changes made. In the mean time though, online casino businesses are bound to lose a lot of their clients as a result of this latest development.
So how will online casino businesses survive the death watch? There’s no doubt that many casino sites will choose to downsize and close down. Others may decide to go into survival mode and open up smaller branches elsewhere. But whatever path they take, they have to make sure that they stay in business.
For the online casino players, this isn’t going to be easy. On one hand, the gaming commission is accusing them of fraud and asking for a $600 million fine. On the other hand, the online casino industry is under tremendous pressure from congressmen and state attorneys general to provide proof that they are following all regulations in regards to online gambling. These are tough times for the gaming industry, but with the right support and leadership, they should be able to weather the storm.