Over the past year the online gaming industry has grown significantly. It is continuing to expand. The number of virtual computer competitions, stream channels and viewers is increasing. This rapidly growing market has attracted gambling bookies who use software better platforms.
The legal sphere of online gambling has not kept pace with the growth of the industry.
The number of companies accepting bets on events of this kind is constantly increasing — but as with most industries there are both small fly-by-night companies, and larger betting corporations established in the industry like betinvest.com. These companies allow people to bet on virtual competition games around the world directly from their computer
Legal requirements for bookmakers accepting bets on computer game competitions are identical to requirements put on classic sports game betting. Both the software betting platforms and their customers must comply with the law — to receive a payment, the bookmaker must verify the customers age and identity.
To guard against the risk of children gambling, new rules are slowly coming out. For example in the United Kingdom, operators must verify customer age before the customer can deposit any funds into an account.
Governments must make the effort to regulate the industry further, and allow legitimate companies to help police the industry.
Companies such as Betinvest, which is an international provider of gaming solutions – operating under a Maltese license – are ready to provide software development services for bookmakers. Sportsbook also offers a range of services: technical, visual development and support
Sports Betting Legalization
Sports betting is a great way to earn money, but it is not fully legalized in all countries. Betting offices are prohibited in many countries, but outlawing them has led companies to register offshore which pushes everything underground.
However, over the past five to seven years a revolution has taken place in the sports betting market. There are many new companies offering their clients the ability to make forecasts using mobile phones. This has opened new opportunities for professional players. The old era of bookmakers requiring people stand in line to place a bet is in the past, as professional online companies having entered the arena.
Online services provide:
- relevant information from the world about your favorite kinds of sport;
- the ability to quickly withdraw funds won;
- access through any cell phone which allows the user to make forecasts regardless of location.
History has shown that gambling restrictions do not work positively, but force the industry underground. Licensing bookmakers is the easiest and most effective way to reduce the negative impact of gambling. Legalization will help the online gambling industry reduce the number of dodgy online betting companies and the crime connected to them. It will allow the industry to begin policing itself. Unfortunately many of the restrictions now in place do very little to stop crime and until governments take the issue seriously under age gambling can still occur as well as all the other crime associated with shady gambling companies,