Online gambling has grown tremendously over the years. It’s no surprise that this industry is generating a lot of money, thanks to the internet and several favorable gambling legislation around the world. This form of gambling is done via the internet and includes the likes of virtual poker, sports betting, and online casinos.
Online gambling is governed by different laws in different parts of the world. Some governments permit it, for example, online casinos in Latvia are regulated and legal, but others maintain a strong prohibition on it, while others are indecisive about such activities.
This is why online gambling can be said to be regulated in some countries and unregulated in others. It is important to note that online gambling regulation (operating lawfully under a particular law, having the proper paperwork, license, and permit) is always for the advantage of players to ensure that they are protected when participating in gambling activities. However, due to various gambling laws guiding different parts of the world, several unregulated sites exist on the internet.
There are over 93 countries where online gambling is neither prohibited nor regulated. Little to no regulations are put in place for such activities. Let’s take a look at three of such countries below:
There are currently no online gambling regulations in Bolivia. Because the Internet is not included in any of the country’s laws, citizens are free to gamble online at overseas betting sites housed in other nations. Many internet gambling platforms permit Bolivian players because internet gambling isn’t against the law for such citizens.
Egypt is another country that does not have any regulations governing online gambling. As a result, online gambling is neither illegal nor prohibited. Although land-based gambling platforms are monitored in the country, however, when it comes to Internet-based gambling, the Egyptian government has other internet issues like Internet monitoring and censorship accusations to take care of compared to internet gambling.
Although brick-and-mortar casinos are prohibited in Ecuador, no mention of online gambling was made in the law. As there is no formal law covering such practices, online gambling is not regulated in Ecuador. Various online gambling platforms permit Ecuadorian gamers, so citizens take advantage of this gray area in the law to participate in online gambling.
What Is Unregulated Online Gambling?
First, note that online gambling regulation largely depends on a customer’s country and where the gambling site is based. This means that online gambling can be said to be unregulated if a country or state has no existing laws concerning such activities, nor do they have laws prohibiting it. So, gambling platforms in such locations operate in a free state, and they are not scrutinized or given any close attention by the authorities.
When a gambling site operates without regulation, there are chances of that site being irresponsible since there isn’t a relevant authority watching its activities.
This is why online gambling regulation is a must, and all regulated gambling sites are legal. However, the same cannot be said about sites that are not regulated, which is why punters must exercise caution while gambling online.