Online gambling refers to any kind of gambling that is conducted on the internet. This includes virtual poker, gambling in casinos as well as betting on sports. The first ever online gambling site was launched for public use in 1994. It offered lottery tickets for the World Poker Tour in Las Vegas. Online gambling websites have grown to offer a
Some of the most well-known gambling websites online are: pin up aviator game Betfair and Coral Sportsbook, William Hill and Intercasino. Unibet, Fairlay, and iPoker are some others. These companies have made a significant leap in just a few years. These companies offer many types of online gambling. There is traditional betting which is where gamblers place bets on a specific bookie or gambling websites online. There is also lotteries and raffles that you can participate in for cash, or tickets to events like music festivals, film productions as well as horse racing lottery drawings.
Online gambling has been a subject of interest to a number of states. They are concerned that it could be used to promote illegal activities and trafficking. Because of this some state governments have become involved and created regulatory frameworks. Regulators such as the Department of Business and Professional Regulations and the State of Delaware, among others, have created licensing programs and regulations and even set up databases for online gaming websites. Many internet users are aware of the regulations regarding online gambling and the majority of states have enacted provisions to allow state-regulated gaming sites to operate while they are reviewed.
Many nations, including the United States, have taken an active part in regulating gambling online. There are even international legal and policy frameworks regarding online gambling and the US Congress who regulates commerce between states, has introduced bills to legalize online gambling and to impose criminal penalties for gamblers who gamble online. The European Commission and World Trade Organization are also involved in creating international frameworks for online gambling.
Regulating online gambling at a federal level is a problem because the federal government can’t regulate interstate commerce. Gambling is a local business right. State regulation is governed by the interstate commerce power of the states. This power is conferred at the state level, but it is not delegated to federal government.
A simple lookup on Google will reveal that the top 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. Of these seven the most lucrative industry members include Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. Five of the most lucrative members of the industry from Las Vegas are also the top five gambling cities. This makes Las Vegas an attractive city for offshore gambling operators.
The US President Barak Obama backed a law to legalize online gambling in the Philippines during the recent Philippine elections. The US President is in support of this proposal due to the fact that the country’s gambling sector is a significant source of the billions of revenue. Many officials in the Philippines have endorsed the initiative, but the main problem is the lack of support from national leaders. The bill that is the main one proposed is the Bringing Back Gaming Control Act which is currently under discussion in the House of Representatives. The main purpose of the bill is to tax online gambling as well as establish a national registry of all gaming websites. This would require all online casino operators to register with the government which would require the establishment of new accounts in the Philippines.
Although the returning of the gaming control act may pass the House of Representatives, it is unlikely to become law. National politics is blocking any legislation from becoming a law in the Philippines because of concerns about how the bill will impact the Philippine economy. The previous attempts to pass legislation have resulted in major issues, including increasing costs and reducing benefits for Filipinos. The House Majority leader however has promised that the measure will still be passed in congress.