Online gambling can have negative effects on a person’s credit score. Some states are attempting to regulate or legalize online gambling. Nevada and Delaware have already begun the process. However, regulation will continue on a state-by-state basis. In the meantime, it is still advisable to avoid unregulated gambling sites.
The legality of online gambling is a controversial topic. While it is primarily a state issue, federal law often reinforces state laws. The Unlawful Internet Gambling Enforcement Act of 2006, for instance, limited the ability of banks to transact with illegal Internet gambling sites. While the Federal Wire Act was commonly believed to prohibit online gambling, this statute is not applicable to lottery, poker, or casino websites.
There are two main types of online casinos: download-based and web-based. The former requires a software client download to access the casino’s website. Download-based online casinos are faster than their web-based counterparts, as the software client caches graphics and sound programs. However, this option is time-consuming and involves an increased risk of malware infection.