Connect with us

headlines

New Study Indicates Michigan Has Largest Online Gambling Market

Published

on

Michigan casino chips

The American Gaming Association (AGA) recently released a report discussing the online gambling market in the United States. The study indicated that Michigan residents gamble the most but often wager online instead of at the local casinos.

According to the report, Michigan wagered $1.92 billion on poker, blackjack, and other online casino games. For the third year in a row, the commercial gaming industry has set a revenue record for the state. In 2023, the total revenue for domestic casinos, sportsbooks, and other iGaming platforms was $66.52 billion.

The iGaming industry, with its impressive 22.9% growth from 2022, has emerged as the most popular choice among online bettors. In 2023, the iGaming sector of the online gambling market soared to $6.17 billion in revenue, a testament to its potential and appeal.

Other online gambling states on the market list include New Jersey #2, Pennsylvania #3, Connecticut #4, and West Virginia #5. Only seven states authorize local casinos to operate online from within their borders: New Jersey, Delaware, West Virginia, Pennsylvania, Michigan, Connecticut, and Rhode Island.

Since 2021, when Michigan launched its state-regulated online casinos, local casinos have seen a decline. This decline is due to the shift in gambling habits, with more players choosing to wager online. While it was anticipated, the state now had the fourth-largest decline in traditional casino gross gaming revenue for 2023, at 2.7%. This trend is likely to continue as online gambling becomes more popular.

Online Casino Gambling Options

In the United States, residents have many online gambling options due to the lack of federal gambling laws. Since only several states offer casino gambling, many players venture online and wager with offshore casino sites.

Online casinos offer the same style of games you will find in domestic casinos, including slots gambling, blackjack, poker, and specialty games like bingo and keno.

In addition to casinos, US players can access online sports betting sites and virtual poker rooms. Options include betting with Bitcoin and the convenience of playing online from anywhere at any time.

Is Online Betting Legal In The United States?

Yes, US players have access to online casinos, sportsbooks, and poker sites since there are no federal or, in many cases, state and local ordinances. It is important to check local laws before wagering real money online to ensure you are not in violation, but for the most part, Americans can wager legally with offshore or state-based online gambling sites.

Today, most states have embraced online sports betting sites but need to offer their own state-licensed online casino sites faster. While several states have drafted legislation, the process could have been faster.

Continue Reading

headlines

New Zealand Pursues Online Casinos To Combat Offshore Betting Sites

Published

on

Hon. Brooke van Velden

mobile iconThe New Zealand government has taken the initiative to pursue legal online casinos, and many people believe this is to combat offshore betting sites.

New Zealand’s Minister of Internal Affairs, Hon. Brooke van Velden, confirmed that the country is looking at a regulatory framework to issue online iGaming licenses by 2026. However, license holders will be subject to sustainability checks, taxes on revenue, and to provide customer protections. There will also only be a select few license holders selected if new legislation passes into law.

Currently, the only online gambling provided by the country is sports and parimutuel gambling. However, Tabcorp is the sole beneficiary as it is the only company in the country with an online sports betting license.

The Internal Affairs Department, led by Hon. Brooke van Velden, regulates all forms of gambling in the country.

Domestic New Zealand Casinos

SkyCity Entertainment Group is one of the few companies in New Zealand with a domestic casino license. It owns resorts in three cities: Auckland, Hamilton, and Queenstown. Earnings reports confirmed that SkyCity generated retail gross gaming revenue of USD 229 million for 2023.

Full NZ Casino List

  • SkyCity Auckland – 1800+ gaming machines, 150 gaming tables.
  • Christchurch Casino – 500 gaming machines, 36 gaming tables.
  • SkyCity Hamilton – 339 gaming machines, 23 gaming tables.
  • Dunedin Casino – 180 gaming machines, 12 gaming tables.
  • SkyCity Queenstown – 86 gaming machines, 12 gaming tables.

Offshore Casinos In New Zealand

Offshore betting sites have offered their services to New Zealand since the early 2000s and have become the most trusted source for many gamblers. While they are legal outside of the country, New Zealand itself has not authorized the use of these sites. However, the government has yet to forbid offshore gaming sites successfully.

Online, you will find numerous casino games that offer real money payouts, including blackjack gambling, roulette, slots, video poker, and more. In addition to a more extensive selection of games, online casinos also offer digital currency banking options, player-specific bonus options, progressive jackpot slots, and sometimes live dealer games.

Are Offshore Betting Sites Safe?

Licensed offshore betting sites are generally safe if a trusted gaming agency regulates them. Offshore regulators are often government agencies tasked with taxing and enforcing regulations to assure players are secure and that the games are fair.

To ensure that online casino sites are legit, check for licensing and compliance records that indicate they operate with oversight. Our online reviews will help you discover our recommended sites for 2024.

Continue Reading

headlines

MGM Resorts CEO Confirms Abu Dhabi License Pursuit

Published

on

Abu Dhabi arial view

MGM resorts logoMGM Resorts CEO Bill Hornbuckle has confirmed that the Vegas-based company is seeking a casino license in Abu Dhabi.

At a recent Skift Global Forum, Hornbuckle stated, “Yes, we have applied. We’ve done it in Abu Dhabi,” before expressing optimism about obtaining the license. Hornbuckle then explained that the federal government would have the final say, as each emirate would cast a vote to grant or deny casino operations.

MGM owns and operates 31 properties globally, including resorts in the USA, China, and Macau. They are also building a non-gaming resort in Dubai featuring three hotel towers and over 1,500 rooms. The resort is reported to mirror their properties in Vegas, such as the MGM Grand and the Bellagio.

MGM also confirmed a Dubai Sphere at the Global Forum, which will rival the new Las Vegas Sphere, which has already gained global recognition in its short existence.

After a 2006 non-gaming project failed to materialize, the company veered away from Abu Dhabi. Hornbuckle now says that MGM will not venture into Abu Dhabi without a casino license: “That’s the business MGM is in.”

Are Offshore Casinos Safe?

Yes, offshore casinos are generally safe, whether in person or online. In-person, each casino typically has a security team that ensures patrons are safe when coming to and from the casino. However, sometimes criminals outsmart security, and casinos are known locations for some sketchy characters.

With offshore online casinos, you must ensure the site you are playing is legit. The best way to determine if a site is safe and fair to play is to check online reviews, verify the site is licensed, and verify that the community trusts the jurisdiction. Some of the biggest names in the game, like MGM and Caesars, also have offshore licensing for their properties.

Is Gambling Legal In Abu Dhabi?

No, gambling, either in person or online, is illegal and punishable by up to 2 years in prison in Abu Dhabi. There are currently no casinos in operation, but MGM hopes to change that, having recently applied for a casino license.

The MGM is currently working on its most ambitious Dubai project, which will host numerous hotel towers, a sphere, dining, and shopping. However, there are no plans for a casino at the Dubai location. Those plans would likely change if the company is granted the casino license they recently applied for.

Are Online Casinos Legal In The U.S.?

In the United States, there are no federal gambling laws that make online casino gambling illegal. Individual states have the power to enact their rules, but many states have failed to pass legislation concerning online ventures. U.S. gambling states include all continental states, D.C., Hawaii, Alaska, and Puerto Rico to various degrees.

Continue Reading

headlines

Singapore Bans Crypto And Approves Cashless Casino Betting

Published

on

Bitcoin roulette wheel

Bitcoin circle coin logoSingapore authorities have taken a step forward in fighting money laundering schemes by banning cryptocurrencies at in-person or online casinos.

Money laundering has long been associated with offshore casino gambling, but only recently has it been linked to crypto schemes. Singapore has banned digital assets such as Bitcoin, Ethereum, Litecoin, and other cryptos from being accepted at their licensed casinos to add legitimacy to their online and in-person gambling services.

Betting with Bitcoin has grown in popularity over the last several years due to its convenience and fast processing times. Many players today seek online casinos that accept crypto for the bigger bonus rewards, instant transfers, and the additional security it provides by bypassing traditional banking methods.

Minister of State Sun Xueling told media sources that the changes were made to modernize the gambling industry. Xueling also stated that “The Gambling Regulatory Authority has no intention of allowing cryptocurrency to be used as chips for casino gambling as this presents money laundering risks.”

Can I Bet Online With Cryptocurrency?

Many trusted offshore betting sites will accept cryptocurrency, and several countries have even included digital assets in their in-person game rooms. For most players, crypto is a way to bypass currency exchange services and a faster way to fund an account or withdraw winnings.

For most online casinos that deal in the US dollar (USD), digital assets such as Bitcoin, Ethereum, Litecoin, and various altcoins are all converted to USD and added to the account holder’s bankroll. Players who deposit in crypto can also elect to receive their winnings in crypto.

Crypto Gambling Websites That Don’t Require ID

Be wary of casinos and sportsbooks that don’t require ID, these sites are often not licensed or regulated. Offshore betting sites such as Bovada and BetOnline allow players to sign up and bet without providing ID but require identification before withdrawing their winnings. Identification upon withdrawal is a normal process and is how most online casinos operate.

You should always read a site’s terms and conditions before signing up to avoid confusion. Most online gambling sites will accept anyone over the age of eighteen who hasn’t previously excluded themselves. Self-exclusion is another process many legitimate sites utilize for those players battling an addiction.

Continue Reading

Trending

Copyright © Offshorebettingsites.net - All Rights Reserved