Why online games are legalized in many countries?
The gambling business is characterized by high profitability and profitability. From a financial point of view, opening an online casino is a lucrative and promising idea for entrepreneurship. In some countries, virtual gambling is prohibited at the state level. However, more and more states are legalizing the gambling business because it brings additional revenue to the treasury in the form of taxes.
Main reasons for legalizing online gaming
The business of organizing and conducting gambling is a profitable type of entrepreneurial activity. The margin of the gambling business can reach 50%. The higher the company’s profit, the more tax revenues to the state budget. Online casinos, compared to land-based establishments, have lower costs. At the same time, virtual clubs cover a significant audience of gambling users, thereby increasing profits. The main reasons for legalizing the gambling business in online format are as follows:
- taxation of casino profits;
- involvement of payment operators in business;
- taxation of gamblers;
- bringing the gambling business “out of the shadows”;
- government regulation of gambling.
Gambling can cause addiction, known as gambling addiction. This is the main downside of such entertainment. Most countries where online gambling is prohibited introduce legislative restrictions precisely because of the high likelihood of gambling addiction among players. Despite this, individual countries are initiating procedures for legalizing the gambling industry, reserving the right to regulate the business.
Prospects for casinos and players
Legalization of online gaming provides advantages to both casino companies and customers. Organizers of activities obtain legitimate grounds for conducting business. Gamblers are guaranteed fair play and receipt of winnings through verified and reliable payment methods. Transaction operators also receive their share of profits in the form of commissions for payouts to gamblers’ electronic wallets and bank cards.
Internet casinos operate successfully in different countries around the world. Legalization of the gambling business provides the state with additional taxes in the budget and allows regulation of the industry through constant control over the gambling sphere and the adoption of relevant legislative acts. Many parties are interested in the development of the gambling entertainment industry – states, companies, financial organizations, online payment operators, and the players themselves.
