Who is interested in legalizing bookmakers and the gambling niche in general?
The Pros & Cons of Legalizing Online Betting
Offline gambling has been a thriving industry with a turnover of billions of dollars for several decades. Banning them would deprive the state of a major source of income. It is for this reason that some countries have found the perfect legal arsenal to legalize online betting.
Pros of legalization
Legalization of online betting helps regulate and clean up the sector. Countries committed to the idea of criminalizing the gambling industry encourage players to circumvent the rules by visiting underground casinos. This implies a huge need for secrecy and the risk of squabbling with the law, which puts the player in danger.
Legal bookmakers like 1xbet operate within law and pay taxes, moreover it gives players an opportunity to play on phones using convenient 1xbet mobile online. The player of such a company falls under the legal field and can appeal any controversial moment to the SRO. And one more important point: a legal office has enough funds, which are a guarantee of the company's solvency.
Legalization of online casino services protects the sector
The legalization of gambling also ensures that if you have problems with rewards or suspect authorized access, you can contact the appropriate authorities. You will be required to provide personal information such as identification documents and addresses. Legalized online betting sites use encryption technology to protect your data from outside access and fraud.
Cons of legalization
The disadvantages include the following: from a win in a legal office, the better will have to give up part of the profit in the amount of 13%, which scares away customers. However, in order to alleviate the situation caused by mandatory tax deductions, bookmakers reduce their margins, which means that the odds increase.
The main problem with betting is that it is addictive for players. Addicts come back to betting and sometimes it is very difficult for them to quit. This addictive nature can put players out of business as they are dealing with real money.
Despite the legalization of betting, online bookmakers prefer to register in offshore jurisdictions. It is cheaper to obtain a license in Curacao or Antigua and Barbuda than in the USA, Russia and EU countries. Due to lower registration costs and a favorable tax climate, offshore bookmakers can offer players bonuses and high odds.