Online gambling is any type of gambling that is conducted online. This includes virtual poker, betting on casinos as well as sports betting. The first online gambling website was made available for public use in 1994. It offered lottery tickets to the World Poker Tour in Las Vegas. Since then there are gambling websites online that have offered different kinds of gaming and gambling options.
Some of the most popular online gambling websites include: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made a significant stride in a short time. These companies offer many types of online gambling. There is the traditional form of betting where people place bets on a particular bookie or gambling websites online. There are lotteries as well as raffles, which you can play for cash, and tickets to events such as film festivals, music festivals as well as horse racing lottery draws.
Many states have expressed an interest in online gambling due to the fear that it could be used to encourage illegal activity and traffic. Some state governments have shown an interest in online gambling and created regulatory frameworks. Regulators like 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 gaming websites that are online. Many online players are aware of the regulations surrounding online gambling. The majority of states have provisions which allow gaming sites that are regulated by the state to continue operating as they undergo a review.
Many countries including the United States have taken an active part in the regulation of online gambling. International legal and policy frameworks exist for online gambling. The US Congress, which controls interstate commerce, has introduced legislation to legalize online gambling and penalize gamblers who gamble online. The European Commission and World Trade Organization are also involved in establishing international guidelines for gambling online.
Regulating online gambling at a federal level is problematic since the federal government doesn’t have the power to regulate interstate commerce. Gambling is a local enterprise right. The power to conduct commerce between the States covers state regulation. Although the power is given at the state level, it is not delegated to the federal government.
Google will soon identify the top gambling companies in the US as Las Vegas, Macao and Playtech. 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 boomerang makes Las Vegas a very attractive city for offshore gambling operators.
The US President Barak Obama backed a law to legalize online gambling in the Philippines during the recent Philippine elections. The reason why the US President supports this initiative is due to the millions of dollars the local economy of the country is dependent on its online gambling industry. Many politicians from the Philippines have been in favor of the initiative, but the main problem is the absence of support by national leaders. The bill in question is the Bringing Back Gaming Control Act. It is currently under discussion in the House bantu bet casino of Representatives. The main purpose of the bill is to tax online gambling and create a national registry for all gaming websites. This will force all online casinos to sign up with the government and force that they open accounts in the Philippines.
The House of Representatives may pass the Bringing Back Gaming Control Act However, it is not likely that it will be law. National politics is blocking any legislation from becoming a law in the Philippines because of concerns about how the bill will affect the Philippine economy. The main issues that have arisen from the previous efforts include increasing costs and cutting benefits to Filipinos. The House Majority leader however has stated that the measure will be voted on in congress.
