Money Laundering – Legal Gambling

Many experts believe that the best solution to combat online gambling money laundering is to develop a system that would subject online gambling operators to uniform taxation. This would eliminate the need for any virtual currency manipulation in exchange for gambling. However, developing such a system would be a long-term project that could take several years to complete. For the time being, U.S. states are trying to pass bills that would make it possible for state agencies to impose harsher penalties on those that engage in online gambling money laundering. Such legislation could, if passed into law, make it more difficult for gamblers to move their money across state lines.

Money Laundering

There are many ways how people can lose their money on casino slots, video poker and other games that are offered on internet gaming sites. Some lose because they do not have the knowledge to know which games they are playing. This is especially true with those who often play these online casinos using promo codes. These codes are promotional gimmicks that certain casinos use in order to attract more players.

The task of detection and investigation is more complicated than cracking down crimes like murder, theft and other white-collar crimes. To tackle such cases the government has to rely on good police work and the cooperative efforts of the several law enforcement agencies. This cooperation has enabled the police to detect big incidents and criminal elements involved in laundering.

Risk Vs Gain

It is not hard to figure out how online casinos make money. After all, these sites are not charities. They are already operating a business and in order to generate revenue, they offer various types of gambling games. It should not come as a surprise then that casino operators and gambling agencies work closely together to promote these free slots machines for both the player and the casino itself.

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