This may come as a shock to a lot of people who like to bet on sports via online gambling.

It’s Illegal.

United States law is very specific about this. Online gambling violates the 1961 Wire Act, which states that using any communications network within the country for gambling purposes is illegal. Some in Congress have been trying pass legislation that specifically targets online gambling.

Yet online sports betting is an industry that brings in up to $10 billion a year. Credit card companies don’t allow charges made on online wagers, so the money changes hands through a third party that takes the money directly from the bettor’s bank account.

Sports Betting OnLine

Like in “real life” betting, the two most popular sports to wager on through the internet are the Super Bowl and March Madness. The information on odds, point spreads, brackets, and other betting tools are easily available. Online, it is as simple as a few clicks on the mouse, and the bet has gone through.

Those who enjoy betting on sports tend not to be interested in casino games. These are not men who will run off to Las Vegas for a long weekend in the casino. Instead, sports bettors are serious about gambling. They want the best odds and the best return on their gambling dollars.

Sports betting online also allows for privacy in a way dealing with a regular bookmaker does not. Done outside of Las Vegas, of course, betting on sports is illegal, so dealing with a bookie is a shady operation at best. Whether one deals directly with the bookie or with a third party, someone knows the bettor’s habits: how often he bets, how much he bets, how much he’s lost. Using an online sports book provides some anonymity. Different online venues can be used so the bettor isn’t always going to the same place. It is done on the computer at home. The stigma that might otherwise be there when dealing with a bookie is gone.

Be Careful

Unfortunately, it is difficult, if not impossible to monitor online sports betting. A lot of the sportsbooks are located off-shore, in the Caribbean, South America, or Asia. They have no federal regulations to follow, as Las Vegas sportsbooks do. Bookies might have the money to back up a bet, but it is just as likely that they will take the money and run. Using online sports betting is a very risky proposition.