Online gambling is any type of gambling that is conducted on the internet. This includes virtual poker, betting on casinos as well as betting on sports. The first ever online gambling site was launched for public use in 1994. It offered lottery ticketing 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 made significant progress in a short period of time. These companies offer many types of gambling online. There is traditional betting, where people place bets on a particular bookie or online gambling site. There are also raffles and lotteries available and you could Boo win tickets or cash prizes to events like music festivals, horse racing or even lottery drawings.
The issue of online gambling is a subject that has attracted the attention of many states. They fear that it will be used to promote illegal activity and trafficking. Certain state governments have taken an interest in online gambling and have developed regulatory frameworks. Regulators such as the Department of Business and Professional Regulations and the State of Delaware, among others, have all created licensing rules and programs, and even created databases for online gaming sites. A lot of internet players are aware of regulations regarding online gambling and most states have made provisions to allow state-regulated gaming sites to continue operating while they undergo a review.
Many countries including the United States have taken an active part in the regulation of online gambling. There are even international policies and legal frameworks for gambling online and the US Congress, which control interstate commerce, has proposed bills to allow online gambling and provide criminal penalties for players who gamble online. The European Commission, World Trade Organization and the European Commission are also involved in the creation of international frameworks for online gaming.
The regulation of online gambling at the federal level is a problem since the federal government doesn’t have the power to control interstate commerce. Gambling is a local-level business right. The Arena interstate commerce power of the States covers state-level regulation. This power is conferred at the state level, but not delegated to the federal government.
A quick lookup on Google will reveal that the leading 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. Las Vegas, Macao and Playtech are the most profitable members of the industry. Five of the most lucrative industry members in Las Vegas are also the top five gambling cities. This makes Las Vegas an attractive city for offshore gambling operators.
In the last Philippine elections, US President Barak Obama came out in support of a law that would allow online gambling in the Philippines. The US President is in favor of this initiative because the country’s online gaming sector is a significant source of the billions in revenue. While many officials in the Philippines are in favor of the move but the biggest issue is the inability of the national leadership to back it. The main bill being proposed is the Bringing Back Gaming Control Act which is currently being debated in the House of Representatives. The main purpose of the bill is to tax online gambling and establish an all-national registry of gaming websites. This would force all internet casino companies to register with the government and require them to open new accounts in the Philippines.
While the legislation to bring back gaming control could be approved by the House of Representatives, it is unlikely to become a law. Since it could have a negative effect on the Philippine economy, the national political system is preventing any legislation from becoming law in the Philippines. Previous attempts have led to major problems which included the rising cost of living and the reduction in benefits to Filipinos. The House Majority leader however has said that the bill will be voted on in congress.