Online gambling refers to any type of gambling that is conducted on the internet. This includes sports betting, casinos and virtual poker. In 1994 the first online gambling facility that was open to the public was the lottery ticketing system for the World Poker Tour in Las Vegas. Online gambling websites have grown to offer a variety of gambling and gaming options.
Some of the most popular online gambling sites include: Betfair and Coral Sportsbook, William Hill and Intercasino. Unibet, Fairlay, and iPoker are just a few. These companies have made significant progress in a short period of time. They offer a variety of gambling online. There is the traditional form of betting where bets are placed on a specific bookie or gambling sites online. There are lotteries as well as raffles, where you can participate in for cash, tickets to events like music festivals, film productions or horse racing, and even lottery draws.
Many states have expressed an interest in online gambling, because they are concerned that it can be used to encourage illegal activities and traffic. Because of this , some state governments have become involved and created regulatory frameworks. In addition such as the Department of Business and Professional Regulations and Delaware have both created licensing rules and programs, and have set up databases for gambling websites that are online. Many internet users are aware of the rules regarding online gambling and most states have made provisions to encourage state regulated gaming sites to continue operating while they are reviewed.
Many countries, including the United States, have taken an active role in the regulation of gambling online. International frameworks for policy and legal exist for online gambling. The US Congress who regulates commerce between states, has introduced bills to legalize online gaming and penalize those who gamble online. The European Commission, World Trade Organization and the European Commission are also involved in the development of international guidelines 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 considered to be an area-specific right of business. The interstate commerce power of the states covers state-level regulation. Although the power is given at the state level, it is never delegated to the federal government.
A quick lookup on Google will reveal that the top gambling industries 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 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 law to allow online gambling in the Philippines during the recent Philippine elections. The US President supports this measure due to the fact that the country’s gambling sector is a significant source of its billions of dollars of revenue. Many politicians from the Philippines have been in favor of the move, but the main problem is the absence of support from the national leadership. The bill that is in the forefront is called the Bringing Back Gaming Control Act. It is currently under discussion in the House of Representatives. The main purpose of the bill 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 that they open accounts in the Philippines.
The House of Representatives may pass the Gaming Control Act to Bring Back Gaming However, it is not likely that it will become a law. Since the bill may have a negative impact on the Philippine economy, national politics is preventing the legislation from being enacted in the Philippines. Previous attempts have caused major problems such as increasing costs and reducing benefits for Filipinos. However the House Majority leader has promised that the bill will be passed by congress.
