Before signing up for a real money account with an online casino, the player might wonder about the legality of gambling online. The laws on online gambling are divided into two distinct sets. There is one set set of laws for the online casinos themselves and another for online gamblers.

When it comes to casinos, most nations allow online gambling with certain restrictions such as licensing and proper tax and banking filings. Various forms of online gambling are legal and regulated in many countries, including most members of the European Union and several nations in and around the Caribbean Sea. The primary exceptions to this are the United States, which has banned the existence of online casinos based in the U.S. and Russia, which has banned all gambling of any sort. Australia does not allow internet casinos to be based in its national borders but does permit its citizens to wager online. Also gambling is illegal under religious law in all Muslim nations.

The United States, which provided about 60% of online gambling revenues, took a unique approach to stop non – U.S. based online gambling by banning the ability of U.S. citizens to deposit money in or receive money from non – U.S. based online casinos. In September 2006 both the House of Representatives and Senate passed legislation (as an amendment to the unrelated SAFE Port Act) that would make transactions from banks or similar institutions to online gambling sites illegal. The Act was signed into law on October 13, 2006, by President George W. Bush. However, at this time the law does not make it illegal for an actual U.S. player to bet online but by restricting the players ability to use U.S. based banking institutions, it severely limits the players ability to gamble online.

So how does this effect the player? At this time outside of nations under Muslim law that have banned all gambling and Russia which has banned all gambling, betting with an online casino that is based in a jurisdiction that has legal online gambling, appears to be legal for the player. It is advised that any player who is unsure about the legality of placing bets with a legally based online casino, check with the authorities in their particular place of residence. Laws have a tendency to change often and without warning and if the player is concerned about the issue, they should make every effort to research this issue in depth. Thebestcasinoguide.com will make every effort to keep gamblers up to date on the laws concerning online gambling and we will post any information or user comments on this issue as it becomes available.*

It also important to mention, that winnings and losses from online gambling are subject to tax laws in every nation. Therefore it is prudent to keep full records of one’s online betting and to make these records available to one’s tax preparer. Players are expected to pay taxes on their winnings and your place of residence may also allow deductions for gambling losses. This is an important issue and it is fool hardy to try to avoid paying taxes on gambling winnings.

*Please be aware that thebestcasinoguide.com. is not a legal agency and any information on the legality of online gambling is at the players own risk and discretion. For full and complete legal information on this issue contact your government or consult with your lawyer. Thebestcasinoguide.com. is not repsonsible for fines or penalties resulting from betting online.