Online gambling is any form of betting conducted over the internet. This includes casinos, sports betting and virtual poker. In 1994 the first gambling site online that was ever open to the public, was the lottery ticketing system for the World Poker Tour in Las Vegas. Since then, there have been online gambling websites which have provided a variety of gaming and gambling options.
Some of the most popular gambling websites online include: Betfair and Coral Sportsbook, William Hill and Intercasino. Unibet, Fairlay, and iPoker are just a few. These companies have come a long way in a short amount of time. These companies offer many types of gambling online. There is the traditional form of betting where people place bets on a particular bookie or gambling websites online. Lotteries and raffles are also available in which you can win cash or tickets to events like music festivals, horse racing, boaboa and even lottery drawings.
Online gambling has been a topic of interest to many states. They are concerned that it could be used as a tool to encourage illegal activity and trafficking. Certain state governments have taken an interest in gambling online and created regulatory frameworks. Regulators such as the Department of Business and Professional Regulations and the State of Delaware, among others, have created licensing programs and rules and have even created databases for gaming websites that are online. Many internet users are familiar with the rules governing online gambling. Many states have laws which allow gaming sites that are regulated by the state to continue operating while they are being reviewed.
Many nations, including the United States, have taken an active role in the regulation of gambling online. There are international policies and legal frameworks regarding online gambling and the US Congress, which control interstate commerce, has introduced bills to allow online gambling and impose criminal penalties on gamblers who gamble online. The European Commission, World Trade Organization and the European Commission are also involved in the development of international frameworks for online gaming.
The regulation of online gambling at the federal level is problematic since the federal government doesn’t have the power to regulate interstate commerce. Gambling is a local business right. State regulation falls under the interstate commerce authority of states. This power is conferred at state level, but not delegated to the federal government.
Google will shortly reveal the top gambling industry in the US as Las Vegas, Macao and Playtech. The seven most lucrative industry members include Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The five most lucrative industry members in Las Vegas are also the top five gambling cities. This makes Las Vegas an attractive city for offshore gambling operators.
The US President Barak Obama has backed a bill that legalized online gambling in the Philippines during the recent Philippine elections. The US President is in favor of this initiative due to the fact that the country’s gambling las vegas casino sector is a significant contributor to its billions of dollars in revenues. While many officials in the Philippines support the move however, the primary issue is the inability of national leaders to back the move. The bill that is in the forefront is the Bringing Back Gaming Control Act. It is currently being discussed in the House of Representatives. The main concept behind the bill is to tax online gambling and establish an official registry of every gaming website. This will force all online casinos to sign up with the government, and require them to open new accounts here in the Philippines.
While the returning of the gaming control act may pass the House of Representatives, it is not likely to become a law. National politics are preventing any legislation from becoming law in the Philippines because of concerns about how the bill could impact the Philippine economy. The main issues that have come up with the previous attempts include a rise in costs and reducing benefits for Filipinos. However the House Majority leader has promised that the measure would still be approved by congress.