Online Gambling is the practice of betting money on sports or other events using electronic devices. It has grown into a huge industry with players from all over the world wagering on a variety of different games and events.
While bricks-and-mortar casinos and similar establishments have existed since time immemorial, online gambling sites have only been around for two decades or so. Despite this, online gambling has seen a huge boom in the past few years due to digitalisation.
Whether or not gambling is legal in your jurisdiction depends on the specifics of the law and how that law is enforced by local authorities. The legality of gambling sites is a grey area that is dependent on state laws and the mercurial tides of public opinion, and can vary from country to country.
Many credit card issuers explicitly prohibit gambling transactions in their terms and conditions. This is because a high chargeback rate can damage the reputation of an operator and impact their ability to accept credit cards. In some cases, a card issuer may blacklist an operator for excessive chargeback activity or even decline to process a transaction altogether.
Fraudsters are a big problem in the gambling sector, and can try to abuse online casino bonuses or steal ID information to commit crimes like fraud, identity theft, and money laundering. These scams can include things such as multi-accounting, or abusing bonus promotions in order to make more money. Fraudsters also often take advantage of loopholes to circumvent gambling laws, or use matched betting and arbitrage schemes in an attempt to beat the bookie.