Online gambling refers to any kind of betting conducted over the internet. This includes casinos, sports betting and virtual poker. In 1994 the first gambling site online that was ever open to the public was the lottery ticketing system for the World Poker Tour in Las Vegas. Since then there are gambling websites online which have provided a variety of gambling and gaming options.
A few of the more popular gambling websites on the internet are: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made a huge stride in a short time. These companies offer many types of online gambling. For instance, there is the traditional form of betting, where people place bets on a specific bookie or online casinos. There are also lotteries and raffles that you can participate in for cash, and tickets to events like music festivals, film productions, horse racing and even lottery drawings.
Many states have taken an interest in online gaming, because they fear that it could be used to encourage illegal activities and traffic. Certain state governments have taken an interest in online gambling and have developed regulatory frameworks. Among others, the Department of Business and Professional Regulations and Delaware have both created licensing programs and rules and set up databases for gambling websites that are online. A lot of internet gamers are aware of regulations regarding online gambling and the majority of states have enacted provisions to encourage state-regulated gaming sites to operate while they undergo a review.
Many countries including the United States have taken an active role in regulating online gambling. There are international policies and legal frameworks for gambling online and the US Congress who regulates commerce between states, has introduced bills to legalize online gambling and provide criminal penalties for people who gamble online. The European Commission, World Trade Organization and the European Commission are also involved in the development of international frameworks for online gambling.
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-level business right. State regulation is governed by the interstate commerce power of states. The power is granted at state level, but not delegated to federal government.
A simple search on Google will reveal that the top gambling industries in the US include 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 industry members. The five most lucrative members of the industry in 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 tres reyes casino recargas law that legalized online gambling in the Philippines during the recent Philippine elections. The reason that the US President has backed this legislation is due to the millions of dollars the country’s local economy depends on its online gaming industry. While many politicianspixies of the forest slot in the Philippines support the move however, the primary issue is the inability of the national leadership to support the move. The bill that is in the forefront is called the Bringing Back Gaming Control Act. It is currently being debated in the House of Representatives. The bill’s main purpose is to tax online gambling and create an official national registry of all gaming websites. This would force all internet casinos to register with the government and force them to open new accounts here in the Philippines.
The House of Representatives may pass the Bringing Back Gaming Control Act, but it is unlikely that it will become an act of law. National politics are preventing legislation from becoming a law in the Philippines due to concerns that the bill will impact the Philippine economy. The previous attempts have led to major problems such as increasing costs and reducing benefits to Filipinos. The House Majority leader however has promised that the measure will still be passed in congress.