Online gambling is any form of gambling that is conducted on the internet. This includes casinos, sports betting and virtual poker. In 1994 the first online gambling facility that was open to the public, was lottery ticketing for the World Poker Tour in Las Vegas. Online gambling sites have evolved to provide a variety of gaming and gambling options.
A few of the most popular gambling websites on the internet include: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have come a long way in a very short time. These companies offer many types of online gambling. There is traditional betting, which is where gamblers place bets on a particular bookie or gambling websites online. There are lotteries as well as raffles that you can play for cash, and tickets to events such as music festivals, film productions as well as horse racing lottery drawings.
Many states have taken an interest in online gambling, because they are concerned that it is being used to encourage illegal activity and traffic. 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 all developed licensing programs and regulations and even created databases for online gaming websites. Many internet users are aware of the rules and regulations governing online gambling. Many states have laws which allow gaming sites that are regulated by the state to continue to operate as they undergo a review.
Many countries including the United States have taken an active part in the regulation of online gambling. International policies and legal frameworks exist regarding online gambling. The US Congress, which controls commerce between states, has introduced bills to allow 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 gaming.
The regulation of online gambling at the federal level is a problem since the federal government doesn’t have the power to regulate interstate commerce. Gambling is a local enterprise right. State regulation falls under the interstate commerce authority of the states. While the power is granted at the state level it is never 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, BK8 Casino Bingo Palace, Coral Gables, Blackjack casino Party Poker, Paradise Poker, Hollywood Casino and Poker Stars, Party Poker and Party Flip. Of these seven , the most profitable 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 lucrative industry members around the world. This makes Las Vegas an attractive city for offshore gambling operators.
With the recent Philippine elections, US President Barak Obama has come out in support of a law that will 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 politicians from the Philippines are in favor of the move however, the primary issue is the inability of national leaders to support it. The main bill is called the Bringing Back Gaming Control Act. It is currently being discussed in the House of Representatives. The main concept behind the bill is to tax online gambling and establish an official registry of all gaming websites. This would require all online casinos to sign up 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. Because it may have a negative effect on the Philippine economy, the national political system hinders the legislation from being enacted in the Philippines. The previous attempts to pass legislation have resulted in major issues, including the rising cost of living and the reduction in benefits for Filipinos. The House Majority leader however has stated that the measure will be voted on in congress.