Online gambling is any type of betting that is conducted online. This includes gambling in casinos, and betting on sports. The first ever online gambling site was launched for public use in 1994. It offered lottery tickets to the World Poker Tour in Las Vegas. Since then, there have been gambling websites online that have offered different kinds of gambling and gaming options.
Some of the most popular online gambling websites include: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have come a long way in a short period of time. With these companies , you can discover a variety of online gambling activities. For instance, there is the traditional form of betting, where people place bets on a specific bookie or online casinos. There are lotteries as well as raffles, where you can participate in for cash, and tickets to events like film festivals, music festivals as well as horse racing lottery draws.
Many states have taken an interest in online gambling because they fear that it is being used to encourage illegal inpay casino activity and traffic. Because of this some state governments have become involved and have developed regulatory frameworks. Among others, the Department of Business and Professional Regulations and Delaware have both created licensing programs and regulations and set up databases for gambling websites that are online. Many 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 while they are reviewed.
Many countries, including the United States have taken an active part in the regulation of online gambling. International frameworks for policy and legal exist for online gambling. The US Congress is the one that regulates interstate commerce, introduced bills to legalize online gaming and penalize gamblers who gamble online. The European Commission, World Trade Organization and the European Commission are also involved in the creation of international frameworks for online gambling.
Regulating online gambling at a federal level is problematic since the federal government doesn’t have the power to control interstate commerce. Gambling is considered a local business right. The interstate commerce power of the states covers the state’s regulation. Although the power is given at the state level, it is never transferred to the federal government.
Google will soon reveal the top gambling industry in the US as Las Vegas, Macao and Playtech. Las Vegas, Macao and Playtech are the most profitable industry members. The five most lucrative industry members in 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, US President Barak Obama came out in favor of a law that will allow online gambling in the Philippines. The reason that the US President is backing this measure is the billions of dollars that the local doku casino economy of the Philippines is dependent on its online gaming industry. While many politicians in the Philippines support the move but the biggest issue is the inability of the nation’s leaders to back the move. The main bill being proposed is called the Bringing Back Gaming Control Act that is currently under discussion in the House of Representatives. The principal concept behind the bill is to tax online gambling and establish a national registry for all gaming websites. This would require all online casinos to sign up with the government and force them to open new accounts here in the Philippines.
The House of Representatives may pass the Gaming Control Act to Bring Back Gaming However, it is not likely that it will become a law. National politics is blocking legislation from becoming law in the Philippines because of concerns about how the bill could impact the Philippine economy. Previous attempts have resulted in major issues which included rising costs and cutting benefits to Filipinos. The House Majority leader however has promised that the measure will still be passed in congress.