Online gambling is any form of gambling that is conducted on the internet. This includes casinos, sports betting and virtual poker. In 1994 the first online gambling venue ever opened to the public was the lottery ticketing system for the World Poker Tour in Las Vegas. Since then, there are gambling websites online which have provided a variety of gambling and gaming options.
Some of the most popular online gambling sites include: Betfair and Coral Sportsbook, William Hill and Intercasino. Unibet, Fairlay, and iPoker are some others. These companies have made a huge stride in a short time. With these companies , you can find a variety of online gambling activities. There is the traditional form of betting where people place bets on a specific bookie, or gambling websites online. There is also lotteries and raffles that you can participate in for cash, tickets to events like film festivals, music festivals as well as horse racing lottery drawings.
Many states have expressed an interest in online gaming, because they are concerned that it is being used to encourage illegal activities and traffic. Because of this , some state governments have gotten involved 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 rules and even created databases for gaming websites that are online. Many online players are aware of rules regarding online gambling and most states have made provisions to encourage state-regulated gaming sites to operate as they undergo review.
Many nations including the United States have taken an active role in regulating online gambling. International policies and legal frameworks exist for online gambling. The US Congress is the one that regulates interstate commerce, has introduced bills to legalize online gaming and penalize gamblers who gamble online. The European Commission and World Trade Organization are also involved in establishing international frameworks for online gambling.
The issue in regulating online gambling at the federal level is the fact that federal authorities is unable to regulate interstate commerce. Gambling is considered to be an individual business right. The interstate commerce power of the States covers state regulation. While the power is granted at the state level it is never delegated to the federal government.
Google will shortly reveal the top gambling industry within the US as Las Vegas, Macao and Playtech. Las Vegas, Macao and Playtech are the most profitable players in the industry. Five of the most lucrative industry members in Las Vegas are also the top five gambling cities. This makes Las Vegas a very attractive city for online casinos zimpler 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 reason that the US President is backing this measure is due to the millions of dollars that the country’s local economy is dependent on its online gaming industry. While many politicians from the Philippines are in favor of the move however, the primary issue is the inability of national leaders to support the move. The main bill proposed is the Bringing Back Gaming Control Act which is currently being debated in the House of Representatives. The primary purpose of the bill is to tax online gambling and create an official registry of all gaming websites. This will force all online casinos to sign up with the government, and require them to open new accounts here in the Philippines.
The House of Representatives may pass the Gaming Control Act to bring back gaming, but it is unlikely that it will be law. Since the bill may have a negative effect on the Philippine economy, the national political system has prevented any legislation from becoming law in the Philippines. Previous attempts have resulted in major issues such as increasing costs and reducing benefits to Filipinos. The House Majority leader however has stated that the measure will be passed by congress.