Online gambling refers to any kind of betting conducted over the internet. This includes sports betting, casinos as well as virtual poker. The first ever online gambling site was launched for public use in 1994. It provide goodmand lottery tickets to the World Poker Tour in Las Vegas. Online gambling spicy casino sites have evolved to provide a variety of gaming and gambling options.
The most popular online gambling sites are: Betfair and Coral Sportsbook, William Hill and Intercasino. Unibet, Fairlay, and iPoker are just a few. These companies have made a significant leap in a short amount of time. With these companies you can find a variety of online gambling activities. There is the traditional form of betting where bets are placed on a specific bookie, or gambling sites online. There are also lotteries and raffles that can be played for cash, tickets to events like music festivals, film productions, horse racing and even lottery draws.
The issue of online gambling is a subject of interest to many states. They fear 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 developed regulatory frameworks. Regulators like the Department of Business and Professional Regulations and the State of Delaware, among others, have all developed licensing programs and regulations and have even created databases for gaming websites that are online. A lot of internet users are aware of the regulations regarding online gambling and the majority of states have enacted provisions to encourage state regulated gaming websites to continue to operate as they undergo review.
Many countries, including the United States, have taken an active part in regulating online gambling. There are international legal and policy frameworks regarding online gambling and the US Congress who regulates interstate commerce, has proposed legislation to legalize gambling online and provide criminal penalties for players who gamble online. The European Commission, World Trade Organization and the European Commission are also involved in the development of international guidelines for online gaming.
The regulation of online gambling at the federal level is difficult since the federal government doesn’t have the power to control interstate commerce. Gambling is considered to be a local business right. State regulation falls under the interstate commerce authority of the states. While the power is granted at the state level it is not delegated to the federal government.
A quick lookup on Google will show that the most popular 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 industry members. The top five casinos located in Las Vegas are also the most profitable industry members in the world. This makes Las Vegas a very attractive city for offshore gambling operators.
The US President Barak Obama has backed a bill to legalize online gambling in the Philippines during the recent Philippine elections. The US President is in favor of this initiative because the country’s online gaming industry is a major contributor to the billions of revenue. While many politicians from the Philippines support the idea, the main problem is the inability of the nation’s leaders to back it. The main bill proposed is the Bringing Back Gaming Control Act, which is currently under discussion in the House of Representatives. The bill’s main purpose is to tax online gambling as well as establish a national registry of all gaming websites. This would force all internet casinos to register with the government, and require 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 law. Since it may have a negative impact on the Philippine economy, national politics has prevented the legislation from being enacted in the Philippines. The main issues that have been uncovered by the previous attempts include increasing costs and reducing benefits for Filipinos. The House Majority leader however has promised that the measure will be voted on in congress.