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New Jersey’s Legal Efforts, Cryptocurrencies And The Future Of Online Gambling

We are currently living in exciting times when it comes to online gambling changes in regulations. All the commotion in media sure does get the attention of sports bettors, casino games lovers and poker enthusiasts in United States. Especially active party in the crusade for legalizing online gaming for real money, sort of a natural leader, surely has to be the state of New Jersey. Their actions may very well reflect on the whole future of the industry.

The Garden State has been engaged in legal battle to change gaming regulations in United States for quite some time. Persistent work proved to be successful in poker department, and now NJ-based providers are the proud example of legal online poker sites for US players. All of the hard work has led to some major changes in American online poker world in recent years, and there still is plenty of room for improvement. 2017 was also a busy time. There was an agreement in October between all regulated states (Nevada, Delaware and New Jersey), allowing those interested parties to share player pools. Additionally, authorities of New Jersey are thinking about expanding them by international markets, for the outside players to join regulated games within their territories. The ambition plans do not stop there, and they will most likely affect all real money wagering in the country. Back in December, state representatives had the opportunity to present their arguments about lifting the PASPA (Professional and Amateur Sports Protection Act) ban, that successfully held back the development of sport betting industry across the country, before Supreme Court of the United States. Its ruling, which is believed to be announced some time before June 2018, is highly anticipated by many parties involved. Among its potential implications, if not sustaining the status quo, is opening the possibility to legalizing sports betting nationwide. Either way, it should provide some impulse for taking additional legal steps. Another few states, like New York or Pennsylvania, already have been preparing laws and regulations to have in hand when the circumstances are favorable.

In the meantime, online gaming providers have found another way to attract customers from around the world. Market does not like the void, and the revolutionary popularity of cryptocurrencies became a great way to fill it. Electronic funds transfers are now inherent part of making transactions all over the internet. Everything that’s happening with Bitcoin only strengthened the appeal of cryptocurrency based real cash wagering. Virtual casinos and poker clients were among the first ones to embrace it, and there are now plenty of such sites everywhere, but sports betting surely warms up to the idea as well. Establishing BTC wallet is easy, deposits and withdrawals are fast and there are basically no limits to it. What is probably the most important, funding the account this way doesn’t require providing personal or banking details. The anonymity of peer-to-peer transactions is something truly valuable to the users.

In conclusion, the course of development in the matter of online gambling may significantly speed up in not too distant future. Regardless the specific outcome, things are bound to change. The market worth billions of dollars is hardly something business oriented people would want to ignore.

The Sports Gambling Podcast has been giving out lead pipe locks in the world of sports since 2011. Created by Philadelphia native Sean Green (@SeanTGreen) and New Jersey's own Ryan Kramer (@KramerCentric). SUBSCRIBE ON ITUNES

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