Those who engage in Internet gambling can be liable for violating at least seven federal criminal statutes. In addition, they may be subject to fines, imprisonment, or both. These statutes are the Wire Act, the Illegal Gambling Business Act, the Travel Act, the Gambling Devices Transportation Act, the Racketeer Influenced and Corrupt Organizations Act (RICO), the National Bankruptcy Act, and the Unlawful Internet Gambling Enforcement Act (UIGEA).
The Wire Act prohibits gambling on sporting events. The Travel Act prohibits gambling in interstate commerce. The Racketeer Influenced and Colrupt Organizations Act (RICO) prohibits the activities of unlawful gambling businesses. The Travel Act also prohibits promotion of unlawful gambling, money laundering, and the facilitation of unlawful gambling.
The Illegal Gambling Business Act also makes Internet gambling illegal. The Act prohibits owners and operators of gambling businesses from accepting payments for illegal Internet gambling. A gambling business may be prosecuted under this title if it is substantially continuous for more than thirty days. It must also generate at least $2,000 in gross revenue every day. A gambling business may be prosecuted for more than five years if it knowingly engages in illegal gambling. The owner or operator may also be imprisoned.
There is a wide variety of internet gambling, including casinos, sports betting, virtual poker, bingo, and more. Licensed gambling sites are legally bound to present randomized, fair betting odds. This equalizes the playing field.
The first online gambling venue for the general public was the Liechtenstein International Lottery. However, there are several other gambling venues, including TwinSpires, an online horse racing site, and Fanduel, the most popular fantasy sports platform. The site also offers daily specials, including money lines on greyhounds, UFC matches, and table tennis.