Finance

What Is the Last Casino Craze Sweeping the Nation?

Isn’t casino gambling regulated at a state-by-state level?

You might be surprised to hear that there is a casino craze sweeping the nation when gambling legality in the USA is determined at state and not the federal level. However, this new craze, which is most certainly casino activity, is not governed by gambling laws. You might be wondering how that is possible. The answer is that while gambling at casinos for real money is strictly regulated, playing casino games just for fun and for virtual wins is altogether different while being remarkably the same. Welcome to the world of sweeps and social gambling.

A brief history of gambling in the US

Ok, we know that sounds like something of a paradox, but bear with us, and we will explain. The United States has some quite contradictory attitudes towards gambling. On the one hand, the country might never have become what it is without gambling – as many of the original settlements were founded using monies raised through lotteries so as ‘not to overburden’ the British Crown. On the other hand, for decades in the 20th Century, casino gambling was forbidden just about everywhere other than Las Vegas and, latterly, Atlantic City. The irony of being home to the ‘capital of gambling’ and having some of the world’s most restrictive gambling laws was not lost on people who enjoyed a flutter.

Changes

Two significant changes have come about in fairly recent years, which changed the face of real money gambling. The internet played a large part in these changes, as it has in many other areas of our lives.

Firstly, a small number of states pushed for changes to legislation to enable them to offer residents legal access to iGaming platforms in their states. They could do this as, in 2011, the Department of Justice issued a legal opinion that changed how the federal government interpreted the 1961 Wire Act, meaning that it only applied to sports betting and no other forms of online gambling. New Jersey, Nevada, and Delaware legalized online casino games first, then Pennsylvania came on board, followed by West Virginia and Michigan

While all of this was in train, the Supreme Court struck down PASPA’s countrywide ban on sports betting, having deemed it unconstitutional. This led to many states opening up physical and online sports betting markets, and gambling for real money in some form or another is now legal in thirty-eight states, plus in DC.

All bets are on

This opening up means that attitudes towards gambling have changed – it has come out of the shadows and into the light. The rise of smartphones and improved mobile connectivity has also fuelled growth and as cryptocurrencies move into the mainstream many platforms are integrating them into their payments systems.

The role of social media

Social media and gaming have also popularised casino games that are played just for the fun of it. In some games, playing at a virtual casino can be a way to earn points to move up to the next level or unlock online rewards. In other circumstances, the games are there just for the sheer thrill and fun of playing.

Anyone who has spent time at the penny arcades knows that monetary rewards are not what makes gambling so entertaining. So much has to do with the feeling of anticipation as the reels tumble or the coins fall and the subsequent win or lose. Sometimes, a simple ‘win’ can be enough to bring a dopamine rush.

The rise of the latest craze

It is for the thrill of playing that the latest casino craze has taken off. Sweeps casinos are available to play almost everywhere in the US because the player uses virtual Gold or Sweeps coins rather than real money. They are not paying to bet on the direct outcome of the game and cannot pay to win.

However, the same top games can be played, and it is even possible to exchange virtual prizes for real ones. This means that most Americans can play casino-style games for free with Sweepstakes casinos, and it is all entirely legal.

Sweepstakes casinos offer all the fun and the same high-quality games as their real-money counterparts but with much less risk. In addition, they are open to everyone and not just to those who live in the handful of real-money casino gambling states. The other great thing about sweepstakes casinos is the bonuses. They offer seemingly crazy bonuses to get people to sign up, return, and keep playing on their sites.

Over forty-five social casinos are operating in the US – they really are sweeping the nation and gaining in popularity, with eleven new ones launching this year. Some of the best have truly impressive game lobbies with thousands of games on offer. In addition to all the free coins on offer, you can also purchase more sweeps coins for as little as $0.49!

How are they legal?

Sweepstakes casinos are legal because they adhere to specific rules, which means that all prizes are identifiable before entry, the competitions have a clear end date, and making a purchase with real money does not enhance your chances of winning.  Currently, sweeps casinos are not permitted in Washington, Michigan, Idaho, or Nevada, but social casinos are allowed everywhere other than Washington.

What are the differences between sweeps, social, and real money casinos?

Sweepstake casinos let you play online casino games and win virtual currency prizes, which can be redeemed for real money prizes. You can do all of this without spending a dollar. You can also buy extra goes, but this does not enhance your chance of winning.

Sweeps casino games are powered by Gold Coins and Sweeps Coins. They are legal in over forty-five states.

Social casinos also allow you to play great online casino games and many of your favorite slots, but you will never be able to redeem virtual winnings for cash prizes. Social casinos are for the pure fun of it and maybe seeing your name at the top of a leaderboard.

Real money online casinos allow you to stake real money for prizes, just as you would in a land-based casino; however, you can only access these legally if you reside in certain places. You don’t have to be a permanent resident, but you do need to be located in the state when you are playing.

Finally

To make a general ‘sweeping’ statement, gambling in all its forms is becoming increasingly mainstream in the US, and the trends for participation and profitability are upwards.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

VeChain (VET) Saga Ends, Road to the Moon Begins, Analyst Calls 3000% Rally

VeChain (VET) has gained significant momentum in the cryptocurrency market, with experts predicting a major…

6 minutes ago

52k% ROI Looms: Qubetics ($TICS) Presale Thrives Amid Bitcoin Cash’s and Algorand’s Breakout

What if the crypto revolution could finally solve real-world challenges with seamless, quantum-resistant technology? That’s…

31 minutes ago

Celebrating Crypto’s Early Icons: BTCC OG Week Honors Bitcoin and Meme Coin Pioneers

BTCC Exchange invites the crypto community to celebrate the rich history of digital assets with…

2 hours ago

Analyst Says Cardano (ADA) Would Hit $3 Faster If This Happens

Dan Gambardello, founder of Crypto Capital Venture, has expressed optimism about Cardano’s price trajectory, predicting…

3 hours ago

Top Developer Tutors Critic Who Claims XRP Is Misleading Investors

In a recent conversation on Twitter, Panos Mekras, co-founder of Anodos Finance, addressed allegations made…

4 hours ago

As Chainlink and Toncoin Struggle, Investors Find Solace in FX Guys

Despite the bullish sentiments engulfing the crypto market, Toncoin (TON) and Chainlink (LINK) might find…

5 hours ago