Gambling is the latest craze in North America – but are you up to date with the gambling laws? If not, you’ve come to the right place.
Currently, millions of people gamble in North America every single day. Gambling is especially popular at weekends due to the fact it’s prime time for the casinos to welcome people throughout North America.
Just like anywhere else in the world, North American citizens must abide by the gambling laws – simple. If they don’t, it’s illegal.
So, if you’re interested in gambling but want to make sure you know the important laws first, here’s all the information you need in a short, bite-sized list.
1: You Must Be Aged 21 or Over to Gamble
Firstly, you need to be aged 21 or over to gamble in North America. However, in some circumstances, such as with the lottery, you can be 18 and gamble. For example, in California, you can be aged 18 or over and buy a lottery ticket.
When it comes to Canadian gambling sites, the gambling laws remain the same. You must be aged 21 or over when there is real money involved.
If you want to, you can play casino games online that don’t involve real money at any age. However, whenever a player wages money, this is classed as gambling, and you must therefore be aged 21 or over.
Remember, online casinos and sports betting websites are regulated, meaning you aren’t allowed to lie about your age.
2: You Must Pay Taxes on Gambling
In North America, it’s common for people to collect winnings from casinos. It’s also common for friendship groups to compete against each other in games of poker and blackjack. When this is the case, each year an individual must pay tax on their winnings. Generally, this is subject to a flat 24% tax, although it can vary.
Failure to report your winnings and pay taxes on them can lead to all sorts of legal problems further down the line – especially if you refuse to pay your taxes after being warned.
3: Abiding by a Provider’s Terms and Conditions is the Law
When it comes to choosing a gambling platform in North America, there are a lot of choices. You can go to in-person casinos, betting shops, and bingo halls. In addition to this, there are also tons of online gambling platforms, too – like online casinos. Whichever type of provider you choose, you must abide by their terms after accepting the terms and conditions. For example, the provider has the right to set their minimum withdrawal rates. If you have a total amount of funds that are below this rate, then you legally cannot request that you withdraw the money, as you have already agreed to the terms and conditions. With this in mind, you will now understand why it’s so important to read the terms and conditions before gambling with a platform you’ve never tried before.
Hopefully, you’re now more familiar with the basics of gambling laws in North America. Make sure to memorize the information above so that you have a fun, stress-free gambling experience.