Online gambling refers to any kind of gambling that is conducted on the internet. This include Intenses virtual poker, casino betting, and betting on sports. The first ever online gambling site was opened to the public in the year 1994. It offered lottery ticketing to the World Poker Tour in Las Vegas. Since then there have been online gambling websites that have offered different kinds of gaming and gambling options.
A few of the more popular gambling websites on the internet are: Betfair, Coral Sportsbook, William Hill, Intercasino, Octo Unibet, Fairlay and iPoker. These companies have made significant progress in a short amount of time. These companies offer many types of online gambling. For instance, there is the traditional betting where people bet on a certain bookie or online casinos. Lotteries and raffles are also available, where you can win tickets or cash prizes to events like music festivals, horse racing or even lottery drawings.
Online gambling has been a topic that has attracted the attention of many states. They fear it will be used to promote illegal activities and trafficking. Some state governments have shown an interest in online gambling and have developed regulatory frameworks. Among others such as the Department of Business and Professional Regulations and Delaware have developed licensing programs and rules and set up databases for gambling sites that operate online. Many online gamers are aware of rules regarding online gambling and the majority of states have enacted provisions to encourage state-regulated gaming sites to continue operating while they are reviewed.
Many countries, including the United States have taken an active part in the regulation of online gambling. International legal and policy frameworks exist for online gambling. The US Congress who regulates commerce between states, has introduced bills to allow online gaming and punish gamblers online. The European Commission, World Trade Organization and the European Commission are also involved in the development of international frameworks for online gaming.
The problem with regulating online gambling on the federal level is the fact that the federal government is unable to regulate interstate commerce. Gambling is considered to be a local business right. State regulation falls under the interstate commerce authority of states. The power is granted at state level, but not delegated to federal government.
A quick lookup on Google will reveal that the leading gambling industries 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. Of these seven , the most lucrative industry members include Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The top five gambling cities 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.
In the last Philippine elections, US President Barak Obama has come out in support of a law that would allow online gambling in the Philippines. The reason that the US President has backed this legislation is the billions of dollars the country’s local economy depends on its online gaming industry. While many politicians in the Philippines are in favor of the move however, the primary issue is the inability of the nation’s leaders to back it. The bill that is in the forefront is the Bringing Back Gaming Control Act. It is currently being debated in the House of Representatives. The main idea behind the legislation is to tax gambling online and establish a national registry for all gaming websites. This would force all internet casinos to register with the government and require that they open 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 be an act of law. The national political system is preventing legislation from becoming law in the Philippines because of fears that the bill could impact the Philippine economy. The main issues that have come up with the previous attempts include increasing costs and reducing benefits to Filipinos. However, the House Majority leader has promised that the measure will be approved by congress.
