Online gambling refers to any type of gambling that is carried out on the internet. This includes gambling in casinos, and sports betting. In 1994, the first online gambling venue ever opened to the public, was the lottery ticketing system for the World Poker Tour in 888 Las Vegas. Since then, there are gambling websites online that have offered different kinds of gambling and gaming 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 huge stride in a short time. With these companies you can discover a variety of online gambling. For instance, there is the traditional betting where people place bets on a particular bookie or online casino. There are lotteries as well as raffles, where you can play for cash, tickets to events such as music festivals, film productions as well as horse racing lottery drawings.
The issue of online gambling is a subject that has attracted the attention of many states. They fear it will be used as a tool to encourage illegal activities and trafficking. Because of this some state governments have been involved and have developed regulatory frameworks. Regulators like the Department of Business and Professional Regulations and the State of Delaware, among others, have created licensing programs and rules and even created databases for gaming websites that are online. A lot of internet gamers are aware of regulations regarding online gambling and the majority of states have enacted provisions to encourage state regulated gaming sites to continue operating while they are reviewed.
Many nations, including the United States, have taken an active role in regulating gambling online. International policies and legal frameworks exist for online gambling. The US Congress, which controls interstate commerce, has introduced bills to allow online gaming and punish gamblers 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 difficult since the federal government doesn’t have the power to regulate interstate commerce. Gambling is a local-level business right. State regulation falls under the interstate commerce power of the states. While the power is given at the state level, it is never delegated to the federal government.
A quick lookup on Google will show that the most popular 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 industry members. The five most profitable industry members from Las Vegas are also the top five gambling cities. 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 which would allow online gambling in the Philippines. The US President supports this measure because the country’s online gaming sector is a significant contributor to the billions in revenues. Many politicians in the Philippines have endorsed the initiative however the biggest issue is the lack of support by national leaders. The main bill is called the Bringing Back Gaming Control Act. It is currently under discussion in the House of Representatives. The main idea behind the bill is to tax online gambling and create an all-national registry for every gaming website. This would force all internet casinos to sign up with the government and require them to open new accounts in the Philippines.
While the returning of the gaming control act may pass the House of Representatives, it is unlikely to become law. National politics are preventing any legislation from becoming law in the Philippines because of fears that the bill will affect the Philippine economy. The main issues that have arisen Pokerstars from the previous efforts include increasing costs and reducing benefits for Filipinos. However the House Majority leader has promised that the measure will be passed by congress.
