Online gambling refers to any type of gambling that is conducted on the internet. This includes gambling in casinos, and betting on sports. In 1994 the first gambling site online ever opened to the public, was lottery ticketing for bwin the World Poker Tour in Las Vegas. Since then there have been gambling websites online which have provided a variety of gambling and gaming options.
Some of the most popular gambling websites on the internet include: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made a huge leap in just a few years. With these companies , you can discover a variety of online gambling activities. For instance, there’s the traditional betting where people bet on a certain bookie or online casinos. Lotteries and raffles are also available in which you can win tickets or cash prizes to events such as music festivals, horse racing, and even lottery drawings.
Online gambling has been a topic of interest to many states. They fear it will be used to promote illegal activities and trafficking. Some state governments have shown an interest in online gambling and have developed regulatory frameworks. In addition, the Department of Business and Professional Regulations and Delaware have both created licensing programs and rules and created databases for online gambling websites. Many internet users are familiar with the regulations surrounding online gambling. Many states have laws that allow state-regulated gaming sites to continue to operate while they are being examined.
Many countries including the United States, have taken an active role in the regulation of online gambling. International policies and legal frameworks exist for online gambling. The US Congress is the one sisal that regulates interstate commerce, has introduced legislation to legalize online gambling 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 a federal level is problematic because the federal government can’t regulate interstate commerce. Gambling is considered an area-specific right of business. State regulation is governed by the interstate commerce authority of the states. While the power is given at the state level, it is not delegated to the federal government.
Google will shortly identify the top gambling companies within the US as Las Vegas, Macao and Playtech. The seven most profitable industry members include Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The top five gambling cities in Las Vegas are also the most lucrative industry members in the world. This makes Las Vegas a very attractive city for offshore gambling operators.
With the recent Philippine elections the US President Barak Obama spoke out in support of a law that would legalize online gambling in the Philippines. The reason the US President is backing this measure is due to the millions of dollars that the local economy of the country is dependent on its online gambling industry. Many officials in the Philippines have been in favor of the move, but the main problem is the absence of support by the national leadership. The main bill is the Bringing Back Gaming Control Act. It is currently being debated in the House of Representatives. The main goal of the bill is to tax online gambling and establish an all-national registry of gaming websites. This will force all online casinos to register with the government and force them to open new accounts in the Philippines.
The House of Representatives may pass the Gaming Control Act to bring back gaming, but it is unlikely that it will become a law. Since it may have a negative impact on the Philippine economy, the national political system has prevented the legislation from being enacted in the Philippines. The previous attempts have resulted in major issues which included increasing costs and reducing benefits for Filipinos. However, the House Majority leader has promised that the bill will be approved by congress.