Online gambling refers to any kind of betting that takes place on the internet. This includes betting on casinos and sports betting. The first online gambling site was opened for public use in the year 1994. It provided lottery tickets to the World Poker Tour in Las Vegas. Since then, there have been gambling websites online which have provided a variety of gaming and gambling options.
A few of the more popular gambling websites on the internet are: Betfair, Coral Bet7 Casino Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made a huge leap in just a few years. Through these companies, you will find a variety of gambling online. There is traditional betting, which is where gamblers place bets on a specific bookie, or gambling sites online. Lotteries and raffles are also available, where you could win cash or tickets to events such as horse racing, music festivals and even lottery draws.
Many states have taken an interest in online gambling, due to the fear that it is being used to encourage illegal activity and traffic. Certain state governments have taken an interest in online gambling 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 programs and rules and even set up databases for online gaming sites. Many internet users are aware of the regulations surrounding online gambling. The majority of states have provisions that permit gaming sites that are state-regulated to continue operating while they are being examined.
Many countries including the United States have taken an active part in the regulation of online gambling. There are international legal and policy frameworks for gambling online and the US Congress that regulates commerce between states, has introduced legislation to legalize gambling online and impose criminal penalties on 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.
The issue with regulating online gambling on the federal level is the fact that federal authorities does not have the power to regulate interstate commerce. Gambling is a local enterprise right. State regulation is governed by the interstate commerce power of the states. Although the power is granted at the state level it is not delegated to the federal government.
A simple search on Google will reveal that the leading industry of gambling 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 members of the industry. Five of the most lucrative industry members from 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 spoke out Bet7 Cassino in favor of a law that would legalize online gambling in the Philippines. The reason why the US President supports this initiative is the billions of dollars that the local economy of the Philippines is dependent on its online gaming industry. While many politicians from the Philippines support the idea however, the primary issue is the inability of the national leadership to support it. The main bill proposed is the Bringing Back Gaming Control Act which is currently under discussion in the House of Representatives. The main purpose of the bill is to tax online gambling as well as create an official national registry of all gaming websites. This would force all internet casinos to register with the government and require that they open accounts here in the Philippines.
Although the returning of the gaming control act could be approved by the House of Representatives, it is not likely to become a law. National politics are preventing legislation from becoming a law in the Philippines because of fears that the bill could impact the Philippine economy. The main issues that have come up with the previous efforts include increasing costs and reducing benefits for Filipinos. The House Majority leader however has promised that the measure will be passed by congress.
