Online gambling refers to any kind of gambling that is conducted on the internet. This includes sports betting, casinos as well as virtual poker. In 1994 the first online gambling venue that was ever open to the public was the lottery ticketing system for the World Poker Tour in Las Vegas. Since then, there are gambling websites online that offer a variety of gaming and gambling options.
A few of the more popular online gambling websites are: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made significant progress in a very short time. They provide a variety of online gambling. There is traditional betting, where people place bets on a particular bookie or gambling websites online. There are also lotteries and raffles that can be played for cash, tickets to events such as music festivals, film productions as well as horse racing lottery drawings.
Many states have expressed an interest in online gambling, because they fear that it is being used to encourage illegal activity and traffic. Due to this, some state governments have gotten involved and have developed regulatory frameworks. In addition among them, the Department of Business and Professional Regulations and Delaware have both created licensing programs and rules and set up databases for gambling websites that are online. Many internet users are aware of the regulations surrounding online gambling. Most states have provisions which allow gaming sites that are regulated by the state to continue to operate as they undergo a review.
Many countries 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, which controls interstate commerce, introduced bills to legalize online gaming 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 gaming.
Regulating online gambling at a federal level is problematic because the federal government can’t control interstate commerce. Gambling is considered a local business right. State regulation falls under the interstate commerce power of states. Although the power is granted at the state level it is never transferred to the federal government.
Google will quickly reveal the top gambling industries in the US as Las Vegas, Macao and Playtech. Las Vegas, Macao and Playtech are the most profitable players in the industry. The top five gambling cities in Las Vegas are also the most profitable industry members in the world. This makes Las Vegas an attractive city for offshore gambling operators.
The US President Barak Obama has backed a bill to allow online gambling in the Philippines during the recent Philippine elections. The US President is in support of this proposal because the country’s online gaming industry is a major contributor to its billions of dollars in revenue. While many politicians from the Philippines support the move but the biggest issue is the inability of the nation’s leaders to back it. The bill that is the main one proposed is the Bringing Back Gaming Control Act that is currently being debated in the House of Representatives. The main idea behind the legislation is to tax gambling online and establish an all-national registry for all gaming websites. This would require all online 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 pass the House of Representatives, it is not likely to 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. Some of the biggest issues that have come up with the previous efforts include increasing costs and reducing benefits to Filipinos. However the House Majority leader has promised that the measure will be approved by congress.