Online gambling is any type of bizzo betting that takes place on the internet. This includes sports betting, casinos as well as virtual poker. In 1994 the first online gambling facility ever opened to the public, was the lottery ticketing system for the World Poker Tour in Las Vegas. Online gambling sites have evolved to provide a variety of gambling and gaming options.
A few of the more popular gambling websites on the internet include: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made a significant leap in just a few years. These companies offer many types of online gambling. There is the traditional form of betting which is where gamblers place bets on a specific bookie or gambling websites online. There are lotteries as well as raffles, which you can participate in for cash, tickets to events such as music festivals, film productions as well as horse racing lottery draws.
The issue of online gambling is a subject that has attracted the attention of many states. They fear that it will be used as a tool to encourage illegal activity and trafficking. Due to this, some state governments have been involved and have developed regulatory frameworks. In addition such as the Department of Business and Professional Regulations and Delaware have created licensing rules and programs, and set up databases for gambling sites that operate online. A lot of internet gamers are aware of rules regarding online gambling and most states have made provisions to encourage state-regulated gaming sites to operate while they are reviewed.
Many nations including the United States, have taken an active role in regulating online gambling. International frameworks for policy and legal exist for online gambling. The US Congress who regulates interstate commerce, has 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 gambling.
The problem with regulating online gambling at the federal level is the fact that federal authorities cannot regulate interstate commerce. Gambling is considered an individual business right. State regulation is governed by the interstate commerce power of states. Although the power is granted at the state level it is not delegated to the federal government.
A simple lookup on Google will reveal that the top industry of gambling in the US include Las Vegas, Macao, Playtech, Commission Lodge, Bingo Palace, Coral Gables, Party Poker, Paradise Poker, Hollywood Casino and Poker Stars, Party Poker and Party Flip. Of these seven the most profitable members of the industry are Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The five most profitable members of the industry from Las Vegas are also the top five gambling cities. This makes Las Vegas an 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 would allow online gambling in the Philippines. The US President supports this measure because the country’s online gambling sector is a significant source of its billions of dollars in revenues. Many officials in the Philippines have been in favor of the move, but the main problem is the absence of support from the national leadership. The main bill proposed is called the Bringing Back Gaming Control Act which is currently being debated in the House of Representatives. The bill’s main purpose is to tax online gambling and establish a national registry of all gaming websites. This would force all internet casino companies to register 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 not likely to become a law. The national political system is preventing any legislation from becoming law in the Philippines because of fears that the bill will affect the Philippine economy. Previous attempts have caused major problems which included rising costs and cutting benefits for Filipinos. However, the House Majority leader has promised that the bill will be passed by congress.
