Editor Approved US Online Casinos For Real Money
March 28th, 2017
At BestUSCasinos.org, our team will stop at nothing to provide you with the most up to date and factual information regarding the online casino industry in the US. Not only has our team taken part in the online casino industry by playing casino games, we have also been keeping a watchful eye on the ever-changing industry for years. All of this experience and expertise has culminated in a site that is equipped with everything you need to know about online casinos in the United States. What’s more, we are constantly adding new information to keep up to date with the times.
The purpose of this site is to give you a better idea as to how the online casino industry functions in the USA, because it is unlike anywhere else in the world. Along with state by state guides, we also have plenty of site and software reviews to go along with it. With all of this at your fingertips, we have given you the tools to not only learn more about real money casinos in the US, but how you can get started playing games yourself. Anything you would want to know about the best sign up bonuses and the sites that offer them are right here at your fingertips.
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The Early Days of Real Money Online Casinos in US
When you talk about real money online gambling in the United States, the history does not extend too far before 2002. It was in this year that the US Federal government passed the Federal Wire Act, which made it illegal to participate in the monetary dealings with any funds that are at all related to gambling on sports. By the letter of the law, the Federal Wire Act does not make it illegal to bet on anything other than sports. In fact, the law does not even prohibit betting on sports, it merely says that it is illegal for financial institutions or anyone else to handle, transfer, or otherwise deal with any funds that will go towards or have been won from online sports betting. In effect, this law makes it nearly impossible for people to deposit at online casinos, because people nowadays can do almost nothing with money that does not involve their bank.
So, now that the Federal Wire Act passed in the US, the real money gambling atmosphere was immediately shaken to its core. Though there were still plenty of online casino options in the wake of the Federal Wire Act’s passing, the general attitude people held towards online gambling was that participating in such activities was now considered to be illegal. In some extremes, people were quite literally afraid that playing a hand of blackjack online would see the police come knocking at their door. In reality, this never has happened and is not likely to happen anytime in the foreseeable future. Adding to the general fear people have of playing real money online casino games in the United States was a Department of Justice that has consistently alluded that all types of internet gambling are illegal. Though the Federal Wire Act has no verbage stating this, the DoJ has scared an entire population into thinking twice about doing something that they are well within their right to do.
Despite the mounting fear, the industry in the United States managed to mostly stay out of the headlines for the next 4 years. Then, in 2006, a few online casino executives were arrested and prosecuted in the United States for violations in relation to the Federal Wire Act. Jay Cohen, and others, were charged under the presumption that facilitating online sports betting for players in the US is, in fact, a violation of the newly instituted Federal Wire Act. As you could have probably guessed, this sent another massive shockwave across the population of people who play casino games online.
The UIGEA and Online Casinos Today
Even worse, and also in 2006, the Unlawful Internet Gambling Enforcement Act was passed as part of a larger bill and signed into law. This particular act made it increasingly difficult for players to play real money casino games online. Though the UIGEA was brand new in 2006, it was really a more expanded upon version of 2002’s Federal Wire Act. Now, the Federal government made it wholly illegal for banking institutions to deal with internet gambling monies. In the immediate wake of the passing of UIGEA, many online casinos that previously offered their services to people in the US announced that they would be suspending these services. Now, an industry that consisted of a seemingly endless quantity of online casinos was whittled down to its bare bones. Despite the UIGEA, real money casinos for US players still existed and still existed in such a way that players never had to worry about criminal prosecution for having gambled online.
Though it seems like the US has done nothing but prosecute the online casino industry, the online casino industry has persevered time and time again. With every new piece of legislation that passes, online casinos are thinking of new ways to make their operations legal. As it stands now, there are hundreds of online casinos that people everywhere in the United States can play at. In addition, a handful of states have made it legal to gamble online within their specific borders. This is a trend that is just beginning to pick up momentum.
Statistical Analysis of Online Gambling Revenue in US
The relatively new online gambling market in the United States completed its third full year of operations in 2016. The US regulated iGaming market is comprised of three state jurisdictions where online gambling is legal at the present time (Nevada, New Jersey and Delaware). Nevada’s online gaming is restricted to online poker. Of the 3 states, New Jersey has accounted for more than 90 percent of iGaming revenue in the United States. Although online casino gaming is also permitted in Delaware, it is a considerably smaller state.
Online Gambling Revenue Forecast in US
As you can see from the bar chart above, online gaming revenues in the United States has experienced tremendous growth since the introduction of a regulated market in 2013, reaching an all-time high of $200 million in revenue in 2016 even though it’s still shared between 3 states. For the year as a whole, iGaming revenue in 2015 was up 19.3 percent on 2014. In 2016, the organic growth witnessed in 2015 continued and online gambling revenue increased by 24.4 percent. In contrast land-based gambling revenue in the US during the same period has been flat.
The US online gambling market is expected to exceed $4 billion in revenue by 2020, growing at an impressive rate of more than 50% according to Technavio’s latest market research study. That forecast includes all online casino and online betting. The fact that these online casino websites appeal to a younger demographic is the main reason why the online gambling market in the US is predicted to get bigger, and real-money gambling transactions in regulated iGaming markets are expected to be processed more efficiently. Additionally, other states including Pennsylvania are considering legalizing online gambling in 2017. As more states soften online gaming laws since it’s a source of tax revenue, it will further increase growth and states will partner together to improve liquidity.
Banking Options at US Real Money Casinos
When it comes to actually playing online casinos games for real money, this is something that cannot be done without first funding a player account. Funding an online player account with real money is the stuff of nightmares for some gamblers in the US, but it is not as painful or convoluted as you may be led to believe. In fact, there are many options available, each with their own perks and drawbacks.
The most popular method of deposit is by way of a debit or credit card. The process for depositing via a credit card is one that is no more complicated than making a normal purchase from an online vendor. These deposits are typically executed in a matter of seconds such that your account is immediately funded and you are ready to begin playing without delay.
The second most popular method of deposit is by way of a direct bank transfer. These work by linking your bank account directly with your online casino player account, and much like credit cards, allow you to begin playing in a matter of seconds.
A newer and increasingly popular method of deposit involves a new currency altogether. Bitcoin, a cryptocurrency that exists solely online, has revolutionized the online casino industry in the United States. Now, it takes nothing more than a Bitcoin wallet and a few seconds in order to safely and anonymously add funds to an online casino account.
There are some other more obscure methods of deposit available at certain online casinos, but the three methods mentioned above are far and away the most commonly found and utilized.
Author: Jim Hall
Real Money Online Casinos FAQ
1. Are US-serving online casinos trustworthy?
While there might be a few unscrupulous entities out there, online casinos in the US are, for the most part, trustworthy and transparent. This means that all your personal information is kept safe and secure. Of course, we still recommend that you research any online casino before making a deposit.
2. Are more states going to regulate online casinos?
At any given point in time, there are a few measures in state governments who have the goal of establishing an online casino industry. So far, these efforts have been met with limited success. To aptly answer this question, we cannot give a solid answer. While there is a good chance more online casinos will be legalized and regulated, the process to make this happen is a slow and arduous one.
3. Will I get in trouble for making deposits at an online casino?
It is always important to check your local laws before ever playing at an online casino, but the fact of the matter is that no one has ever been arrested nor prosecuted for depositing real money at an online casino.
4. Are cashouts processed slowly?
Because cashouts from online casinos in the US are a bit different than they are in other parts of the world, you might have a few questions. With regard to speed, online casino withdrawals are processed at different speeds at different online casinos. Being that mailed check is still the best option for a withdrawal, it is safe to say that most withdrawal will take at least a week in order to process and be put in the mail.
5. What are the fees associated with online casino deposits?
The fee you are charged for having executed an online casino deposit or withdrawal varies from site to site and from payment method to payment method. To make a long story short, you will almost always be charged a fee for any deposit or withdrawal from an online casino, it is your goal to find the method and site offering the lowest fees around.
6. Do I have to download anything?
This is something that depends on the casino in question, but more often than not you will either have to download an online casino client or play flash games, which is nothing more than a fancy way of saying you are playing real money casino games within your web browser.