The response to whether spread betting is illegal or not would really depend on what part of the world the question is being asked. United States usually considers this as illegal. Government in Europe consider this trading as legal with free tax as well.
There are countries who didn’t legalized spread betting due to its inability to impose taxes especially if the trade occurs on-line. To date, there is no way for the administration to make money out of its individuals who win pots of money from their actions online.
On the other hand, it is also for the reason that of the lobbying made by the slot 123
land based gambling places that are egging the government to make the activity against the law. Those land based gambling areas such as casinos are losing much interest and earnings. However, this does not stop the gambling places to set up their own on-line gambling sites to jump into the bandwagon of making tax free income.
Poor thing about the government and the tax officials. There is still no law or act being passed by the senate or the congress concerning spread betting and making money via on-line. The government is now trying their best to regulate these actions. Unfortunately for US government officials, they cannot control those UK sites and get a hold of those US individuals who placed their bets in UK web sites.
Banks today are giving privacy to their clients thus hiding their money from those tax collectors. This makes it easier for traders to hide their money under the search and nose of the government.
Since the advent of the high speed internet, the land based businesses like the gambling places are fast losing so many customers to online gambling sites that offer all types of games from baccarat to online spread betting on practically anything under the sun. Players prefer to play online due to convenience and easy access. They wanted to get hold of the advantage of free taxes. How long will the against the law label last, no one really knows.