Online gambling refers to any kind of be casino opaptting conducted over the internet. This includes casinos, sports betting and virtual poker. The first online gambling site was launched to the public in 1994. It offered lottery ticketing to the World Poker Tour in Las Vegas. Online gambling sites have evolved to offer a variety of gambling and gaming options.
A few of the most popular online gambling websites include: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have come a long way in a very short time. They offer a variety of gambling online. For instance, there’s the traditional bet where players bet on a certain bookie or an online casino. There are also raffles and lotteries available, where you could win tickets or cash prizes to events such as horse racing, music festivals and even lottery draws.
The issue of online gambling is a topic of interest to a number of states. They fear it will be used to promote illegal activity and trafficking. Because of this some state governments have been involved and have developed regulatory frameworks. Regulators like 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 websites. Many internet users are familiar with the rules governing online gambling. Many states have laws which allow gaming sites that are regulated by the state to continue operating while they are being reviewed.
Many nations including the United States have taken an active part in regulating online gambling. There are even international policies and legal frameworks regarding online gambling and the US Congress who regulates interstate commerce, has introduced bills to legalize online gambling and provide criminal penalties for people who gamble online. The European Commission and World Trade Organization are also involved in creating international frameworks for gambling online.
Regulating online gambling at the federal level is a problem because the federal government isn’t able to control interstate commerce. Gambling is considered to be an individual business right. State regulation falls under the interstate commerce power of states. This power is conferred at the state level, but not delegated to federal government.
A simple search 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. Las Vegas, Macao and Playtech are the most profitable industry members. The top five casinos in Las Vegas are also the most profitable industry members in the world. This makes Las Vegas a very attractive city for offshore gambling operators.
With the recent Philippine elections, US President Barak Obama spoke out in support of a law which super boss would allow online gambling in the Philippines. The reason that the US President has backed this legislation is due to the millions of dollars that the local economy of the Philippines depends on its online gaming industry. Many politicians from the Philippines have endorsed the initiative however the primary issue is the lack of support by the national leadership. The main bill 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 establish an all-national registry of gaming websites. This would force all internet casino operators to register with the government which would require them to open new accounts in the Philippines.
Although the legislation to bring back gaming control may pass the House of Representatives, it is unlikely to become law. Since the bill could have a negative effect on the Philippine economy, the national political system hinders any legislation from becoming law in the Philippines. Some of the biggest issues that have come up with the previous attempts include a rise in costs and reducing benefits to Filipinos. However, the House Majority leader has promised that the bill will be approved by congress.