Social Gambling Laws In Texas
I saw a stat (pulled from a decade ago) that said more than 1.6 billion people gamble each year.
Knowing that, would you be surprised to hear that even more people play social casino games? One statistic said that more than 11 million users visit the top social casino games on Facebook daily.
Best online sportsbook for california. Illegal Social Gambling There are social gambling events that are illegal and could lead to an arrest for all attending. These usually take the place of private animal fights, attempts at amateur social gatherings that appear like casino activities and similar situations. Social gambling Any individual or group conducting gambling activities in Iowa must: Obtain a gambling license from the Iowa Department of Inspections and Appeals, and Obtain a permanent sales tax permit from the Iowa Department of Revenue. Social gambling means gambling that is not conducted as a business and that involves players who compete on equal terms with each other in a gamble if all of the following apply: Sample 1.
That comes out to more than 4 billion users per year. About 2.5x the number of people who gamble for real money.
Now, that is only the user-base and not money spent or earned. Social games are nowhere near traditional gambling in that sense, where traditional gambling generates $100+ billion each year.
Social Gambling Hawaii
But social gambling is still brand new, and it’s still growing. It’s currently a $3.4 billion niche market with experts estimating it’ll reach $4.4 billion by 2017. It makes up 4% of the overall $91 billion social gaming market – which is comparable to traditional gambling.
The point is this: social casino gaming is a big deal.
So big, in fact, that many traditional poker and casino companies are buying their way into this space. We have a few examples later on, but the most current example is the World Poker Tour. On August 31st, 2016, they announced the launch of their social casino platform, PlayWPT, which includes both poker and slot games.
Anyway, chances are you’re already familiar with social games. Maybe you already have a favorite social slots or blackjack game you play. If not, then we’ll bet you’ve at least seen these games on your Facebook.
If not, that’s okay too. Either way, you’re about to learn (more) about social casino gaming. The following sections will cover:
- What social gaming is.
- How social gambling is different from traditional gambling.
- Social gambling companies and games.
- Risks and downsides (including addiction).
- Thoughts on why social gambling is legal while many forms of (online) gambling is not.
- What the future has in store for social gamers.