Online gambling is any form of betting that takes place on the internet. This includes casino betting as well as betting on sports. The first online gambling website was made available for public use in 1994. It offered lottery tickets for the World Poker Tour in Las Vegas. Since then there are gambling websites online that offer 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 businesses have made a major leap in just a few years. These companies offer many types of online gambling. For instance, there’s the traditional bet where players place bets on a specific bookie or an online casino. There are also raffles and lotteries available and you could win cash or tickets to events such as horse racing, music festivals and even lottery draws.
Online gambling has been a topic of interest to many states. They are concerned that it could be used as a tool to encourage illegal activity and trafficking. Because of this some state governments have become involved and have developed regulatory frameworks. For instance, the Department of Business and Professional Regulations and Delaware have created licensing programs and rules and have set up databases for gambling websites that are online. A lot of internet users are aware of the regulations regarding online gambling and most states have made provisions to encourage state regulated gaming websites to continue to operate as they undergo review.
Many nations including the United States, have taken an active role in regulating online gambling. International policies and legal frameworks exist regarding online gambling. The US Congress is the one 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 creation of international frameworks for online gambling.
The regulation of online gambling at the federal level is problematic since the federal government doesn’t have the power to regulate interstate commerce. Gambling is considered to be an area-specific right of business. The power to conduct commerce between the States is a state regulation. While the power is given at the state level, it is never transferred to the federal government.
Google will shortly reveal the top gambling industry in the US as Las Vegas, Macao and Playtech. The seven most lucrative industry members include Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The five most profitable industry members in Las Vegas are also the top five gambling cities. This makes Las Vegas a very attractive city for offshore gambling operators.
In the last Philippine elections the US President Barak Obama has come out in support of a law which Stake would allow online gambling in the Philippines. The US President is in support of this proposal because the country’s online gambling industry is a major source of its billions of dollars of revenue. While many politicians in the Philippines support the move however, the primary issue is the inability of the national leadership to back the move. The bill in question is the Bringing Back Gaming Control Act. It is currently being discussed in the House of Representatives. The bill’s main purpose is to tax online gambling as well as create an official national registry of all gaming Tipsport casino websites. This would require all online casino operators to register with the government, which would require the establishment of new accounts in the Philippines.
The House of Representatives may pass the Bringing Back Gaming Control Act 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, the national political system hinders the legislation from being enacted in the Philippines. Some of the major problems 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 measure would still be passed by congress.