Online gambling refers to any kind of gambling that is conducted online. This includes virtual poker, casino mega betting as well as sports betting. The first online gambling site was opened to the public in 1994. It offered lottery ticketing to the World Poker Tour in Las Vegas. Online gambling sites have developed to provide a variety of gambling and gaming options.
A few of the more popular online gambling websites are: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made a huge leap in a short amount of time. They offer a variety of online gambling. There is traditional betting, where people place bets on a particular bookie or gambling websites online. Lotteries and raffles are also available, where you could win cash or tickets to events such as music festivals, horse racing, and even lottery drawings.
Online gambling has been a subject that has attracted the attention of 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 developed regulatory frameworks. Regulators such as the Department of Business and Professional Regulations and the State of Delaware, among others, have all developed licensing rules and programs, and even set up databases for online gaming websites. Many online players are aware of the rules governing online gambling. Many states have laws that permit gaming sites that are state-regulated to continue to operate while they are being reviewed.
Many nations including the United States have taken an active part in regulating online gambling. International legal and policy frameworks exist regarding online gambling. The US Congress is the one that regulates interstate commerce, introduced legislation to legalize online gambling and punish gamblers online. The European Commission, World Trade Organization and the European Commission are also involved in the development of international guidelines for online gaming.
The problem in regulating online gambling at the federal level lies in the fact that federal authorities does not have the power to regulate interstate commerce. Gambling is considered an area-specific right of business. The interstate commerce power of 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 quick lookup on Google will show that the most popular industry of gambling in the US include Las Vegas, Macao, pure casino 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 are Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The top five casinos in Las Vegas are also the most lucrative industry members around the world. This makes Las Vegas a very attractive city for offshore gambling operators.
In the last Philippine elections the US President Barak Obama has come out in support of a law that would allow online gambling in the Philippines. The US President is in favor of this initiative due to the fact that the country’s gambling sector is a significant contributor to the billions in revenue. Many politicians in the Philippines have endorsed the move however the primary issue is the lack of support by national leaders. The bill that is in the forefront is called the Bringing Back Gaming Control Act. It is currently being discussed in the House of Representatives. The main purpose of the bill is to tax online gambling and create a national registry for every gaming website. This would require all online casino operators to register with the government and require the establishment of new accounts in the Philippines.
Although the bringing back gaming control act could pass the House of Representatives, it is unlikely to become a law. The national political system is preventing any legislation from becoming a law in the Philippines due to concerns that the bill could impact the Philippine economy. The previous attempts to pass legislation have led to major problems such as increasing costs and reducing benefits to Filipinos. The House Majority leader however has said that the bill will still be passed in congress.