The world of online casino gaming has been in the midst of a number of controversies ever since its inception. New Protocol Regarding Online Gambling Laws are designed to combat these problems and give players a better experience in the online world of gambling. One such controversy concerns the minimum bet/payout amounts that are required by any online casino. This controversy came about due to the fact that many members of the gaming community felt that they were being “short-changed” by these minimum bet/ payout amounts.
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As it turns out, this was not a problem for the players who were playing at live casinos, because they were actually playing for much smaller stakes than the minimum bet/ payout amounts required by the New Protocol. As a result, many players made the decision to switch from playing at live casinos to playing in their very own computers and to try out the New Protocol. This controversy did cause some revenue loss to the online casino operator, though it ultimately led to the lowering of the minimum bet/ payout amounts. For the record, I do want to point out that I personally feel that the New Protocol is a great system overall and that it did introduce some much-needed transparency into the world of online casino gambling.
Another issue that was brought up regarding minimum bet/ payout minimum amounts was the possibility of abuse by any casino player who knew he could earn more by playing multiple cards at a time. In other words, a player could conceivably sit down at one of these casinos and play hundreds of cards and walk away with a substantial profit. The New Protocol eliminated this possibility, because any player can see on the software screen exactly what the current betting requirements are and can see which card he needs to be to get to that position. Once this information is in his hands, there is no room at all for speculation or behavior based on previous knowledge.
This brings me to another point that has been made about the New Protocol, and that is the argument that online casinos should be operated “regulated.” It seems to me, and this is my opinion as a lawyer, that we need more regulation in all industries. When you operate a business, you have to be very careful about what sort of activities your employees engage in. The New York State Department of Financial Services, or the NYDFS, which is a government agency designed to protect the consumer, has made some excellent recommendations concerning the New York City Casino Control Law. According to this law, online casinos and internet gambling should be operated by licensed New Yorkers.
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I suppose one could argue that perhaps online casinos are just as safe as brick and mortar ones, given that all transactions take place on the internet. However, what we have to remember is that all reputable online gambling establishments should be thoroughly regulated. New York has passed the Protecting Online Gaming Enforcement Act, which is a good example of a regulating body. This shows that although there may be no federal law regulating online casinos, the state government does have a hand in the matter and is keen on protecting the consumer.
Many individuals have expressed concern regarding how the law will impact online poker players. My suggestion is this: do not give any online casino your credit card information. If you become a customer, make sure you check out their practices first. If they are a legitimate casino, then they will have no problem with giving you your credit card information. This might be hard to do when you play at an offshore casino, but for legitimate New Yorkers, they will not mind giving you your credit card information if you play at their table.
Some may say that the New York State law only applies to online casinos, but this is incorrect. The laws affect all licensed online casinos. This includes all online poker sites as well. Therefore, if you happen to be playing at a site licensed by New York to operate online casinos, but if you win, you can claim it back. This means that you could end up owing more money to the online casino then you won.
Regardless, of whether you are a resident or a non-resident of New York, make sure you thoroughly read New York’s gaming laws before you ever gamble online. This will help ensure that you are getting a great experience while playing and will keep you from having problems with the New York State Department of Financial Services and the New York State Casino Security Commission. Do not play an online casino if you are unsure of how the gambling laws apply in your area.
