It has been the contention of many that online casinos are breeding grounds of illegal dealings.  This has been brought on by numerous reports of scams, bad publicity, and those who do not really understand how online casinos work.  More and more countries are beginning to legalise online casinos, and furthermore offer up regulations these online casinos offer.

It is possible to take a look at a mob or gangster movie and think that online casinos are the perfect place to launder money, but one expert states they are not.  Money laundering is done with cash transactions, and done below a bank’s regulations.  In other words, in the US banks have to track a deposit or withdrawal of over $10,000, and other countries have different rules.  So, any cash transaction will be flagged if too high.  Furthermore, the online casino world offers credit cards or checking accounts.

One drawback is that the online world can create an electronic transaction that is hard to track, so it is not unlikely that online casinos could be used for nefarious purposes, but with so many regulations and an eye on the online casinos it is more difficult to use them for money laundering at least.

Also consider that there are countries with lesser regulations on their banks.  The Caymans and even European countries have been targets for hiding money with ease, even electronic accounts.  The truth is nefarious criminals do not need online casinos.  It is also easy to tell a scam casino from the real deal.

It is really only the squabble that online casinos cause debt that one looks for excuses in how they could be bad.  Many countries are beginning to offer stiff taxes for online casinos operating within their borders.  The UK recently saw an increase in taxes, which is why many left for Gibraltar and lesser expensive countries.  However, these casinos want their consumers to be protected.  This means they enhanced security, offer up numerous choices, and keep the UK apprised of those who do not play by the rules.

Online casinos are just as hurt by scams and fixed sports betting.  Online casinos therefore have an incentive to report any illegal or suspect activities they might experience.  They also monitor use of online gamblers to ensure the player is not getting too far into debt.  It pays to have players who can afford to play, over those who cannot.