Online gambling refers to any kind of betting that takes place on the internet. This includes sports betting, casinos and virtual poker. The first ever online gambling site was opened to the public in 1994. It offered lottery tickets to the World Poker Tour in Las Vegas. Since then, there have been gambling websites online which have provided a variety of gambling and gaming lucky pot options.
A few of the most popular online gambling websites are: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made a significant leap in a short amount of time. They provide a variety of online gambling. For example, there is the traditional bet where players place bets on a specific bookie or online casinos. Lotteries and raffles are also available in which you could win tickets or cash prizes to events like horse racing, music festivals or even lottery drawings.
Online gambling has been a topic of interest to many states. They fear that it will be used as a tool to encourage illegal activity and trafficking. Some state governments have taken an interest in gambling online and have created regulatory frameworks. Regulators such as the Department of Business and Professional Regulations and the State of Delaware, among others, have all developed licensing programs and rules and have even created databases for gaming websites that are online. Many internet users are aware of the regulations regarding online gambling and a majority of states have made provisions to allow state-regulated gaming sites to operate while they undergo a review.
Many nations including the United States have taken an active part in the regulation of online gambling. International frameworks for policy and legal exist regarding online gambling. The US Congress is the one that regulates interstate commerce, has introduced bills to legalize online gaming and punish gamblers online. The European Commission and World Trade Organization are also involved in establishing international frameworks for gambling online.
The issue with regulating online gambling on the federal level is hoh999 the fact that the federal government does not have the power to control interstate commerce. Gambling is a local enterprise right. The power to conduct commerce between the States is a state-level regulation. While the power is given at the state level, it is never transferred to the federal government.
A simple search on Google will reveal that the leading industry of gambling in the US are Las Vegas, Macao, Playtech, Commission Lodge, Bingo Palace, Coral Gables, Party Poker, Paradise Poker, Hollywood Casino and Poker Stars, Party Poker and Party Flip. Las Vegas, Macao and Playtech are the most profitable players in the industry. The five most profitable members of the industry from Las Vegas are also the top five gambling cities. This makes Las Vegas a very attractive city for offshore gambling operators.
With the recent Philippine elections the US President Barak Obama spoke out in support of a law that would legalize online gambling in the Philippines. The reason why the US President has backed this legislation is due to the millions of dollars that the local economy of the country is dependent on its online gambling industry. While many politicians from the Philippines support the move however, the primary issue is the inability of the national leadership to back it. The main bill is the Bringing Back Gaming Control Act. It is currently under discussion in the House of Representatives. The bill’s main purpose is to tax online gambling and establish an official national registry of all gaming websites. This will force all online casinos to sign up with the government, and force them to open new accounts in the Philippines.
The House of Representatives may pass the Gaming Control Act to Bring Back Gaming however it is highly unlikely that it will become a law. National politics is blocking legislation from becoming law in the Philippines due to concerns that the bill will impact the Philippine economy. The previous attempts to pass legislation have led to major problems which included increasing costs and reducing benefits to Filipinos. However, the House Majority leader has promised that the measure would still be passed by congress.