Good Q & A guys. I'm much more enlightened on the issue now.
I'm glad you are, Infra.
1. It's not illegal for Americans to gamble online. [Is online gambling something that is generally restricted in many/most countries?]
2. Online gambling sites are not located in the USA.
3. Online gamblers, Americans included, could hold offshore accounts in a country/countries where banks can legally make payments to the online gambling company.
4. Everyone is happy. Except possibly some US and other countries' officials.
What am I missing?
It sounds like there are some tremendous business opportunities here considering the dollars being spent.