Online gambling is any type of gambling that is conducted on the internet. This includes casinos, sports betting as well as virtual poker. In 1994 the first online gambling venue that was 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.
The most well-known gambling websites online include: Betfair and Coral Sportsbook, William Hill and Intercasino. Unibet, Fairlay, and iPoker are a few others. These companies have come a long way in a short amount of time. With these companies you can find all different types of gambling online. For instance, there’s the traditional betting where people bet on a certain bookie or online casino. Raffles and lotteries are also available and you can win tickets or cash prizes to events like music festivals, horse racing, and even lottery drawings.
Online gambling has been a subject of interest to many states. They fear that it will be used to promote illegal activities and trafficking. Because of this some state governments have been involved and have created regulatory frameworks. Regulators like the Department of Business and Professional Regulations and the State of Delaware, among others, have all developed licensing rules and programs, and have even created databases for online gaming sites. Many internet users are aware of the regulations surrounding online gambling. Most states have provisions which allow gaming sites that are regulated by the state to continue to operate as they undergo a review.
Many nations, including the United States have taken an active part in regulating online gambling. International policies and legal frameworks exist for online gambling. The US Congress who regulates interstate commerce, has introduced bills to legalize online gaming and penalize gamblers 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.
Regulating online gambling at the federal level is a problem because the federal government isn’t able to control interstate commerce. Gambling is regarded as an individual business right. The interstate commerce power of the States covers state-level regulation. This power is conferred at the state level, but it’s not delegated to federal government.
A quick search on Google will reveal that the leading industry of gambling in the US include Las Vegas, Macao, Playtech, solitaire spelen 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 profitable industry members are Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The five most profitable members of the industry in Las Vegas are also the top five gambling cities. This makes Las Vegas a very attractive city for offshore gambling operators.
The US President Barak Obama supported a law to allow online gambling in the Philippines during the recent Philippine elections. The US President is in favor of this initiative because the country’s online gambling sector is a significant contributor to the billions in revenue. While many politicians in the Philippines support the idea, the main problem is the inability of national leaders to back it. 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 main purpose of the bill is to tax online gambling as well as establish an all-national registry of gaming websites. This would force all internet casino companies to register with the government which would require the establishment of new accounts in the Philippines.
The House of Representatives may pass the Gaming Control Act to bring back gaming however it is highly unlikely that it will be an act of law. Because the bill could have a negative effect on the Philippine economy, national politics is preventing any legislation from becoming law in the Philippines. Some of the major problems that have been uncovered by the previous efforts include increasing costs and cutting benefits to Filipinos. The House Majority leader however has stated that the measure will still be passed in congress.