The online gaming, or igaming, industry, which began in 1995, is thriving. Now, thanks to a recent legal opinion from the Justice Department, many states may soon move to capitalize on the industry's momentum.
According to the American Gaming Association, global online gambling revenue in 2010 was nearly $30 billion, with roughly $4 billion originating in the United States. While igaming is generally illegal in the United States — simulcast wagering on horseracing, legalized by the Interstate Horseracing Act of 1978 and exempted from the 2006 Unlawful Internet Gambling Enforcement Act, being the exception — most igaming operators are legal and licensed in their home jurisdictions and operate legally in many countries around the world. Because these igaming companies operate outside of the United States, it is difficult to monitor or prosecute their activities within U.S. borders.
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