Online gambling is any type of betting that is conducted online. This includes virtual poker, gambling in casinos as well as betting on sports. The first ever online gambling website was made available for public use in the year 1994. It provided lottery tickets for the World Poker Tour in Las Vegas. Since then, there have been gambling websites online that offer a variety of gambling and gaming options.
A few of the more well-known gambling websites online include: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have come a long way in a short amount of time. They offer a variety of online gambling. There is traditional betting, where bets are placed on a particular bookie or gambling sites online. There is also lotteries and raffles that you can play for cash, or tickets to events such as music festivals, film productions as well as horse racing lottery draws.
Many states have shown an interest in online gaming, because they fear that it can be used to encourage illegal activities and traffic. Some state governments have taken an interest in gambling online 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 rules and programs, and even created databases for gaming websites that are online. Many internet users are aware of the regulations surrounding online gambling. Many states have laws that permit gaming sites that are state-regulated to continue operating while they are being reviewed.
Many nations, including the United States have taken an active part in regulating online gambling. International legal and policy frameworks exist for online gambling. The US Congress, which controls commerce between states, has introduced legislation to legalize online gambling and penalize those who gamble online. The European Commission and World Trade Organization are also involved in establishing international frameworks for online gambling.
Regulating online gambling at the federal level is problematic because the federal government isn’t able to control interstate commerce. Gambling is regarded as an area-specific right of business. The power to conduct commerce between the States is a state regulation. While the power is granted 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. Of these seven , the most lucrative industry members are Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The five most lucrative industry members in Las Vegas are also the top five gambling cities. This makes Las Vegas a very attractive city for offshore gambling operators.
The US President Barak Obama supported a law that legalized online gambling in the Philippines during the recent Philippine elections. The reason the US President is backing this measure is due to the millions of dollars that the country’s local economy depends on its online gambling industry. Many politicians in the Philippines have been supportive of the move however the primary issue is the absence of support by national leaders. The bill in question is the Bringing Back Gaming Control Act. It is currently under discussion in the House of Representatives. The main purpose of the bill is to bet on red tax online gambling as well as establish a national registry of all gaming websites. This would require all online casinos to sign up with the government and require them to open new accounts in the Philippines.
The House of Representatives may pass the Bringing Back Gaming Control Act, but it is unlikely that it will be a law. National politics is blocking any legislation from becoming a law in the Philippines due to concerns that the bill will affect the Philippine economy. The previous attempts to pass legislation have led to major problems such as the rising cost of living and the reduction in benefits for Filipinos. The House Majority leader however has promised that the measure will still be passed in congress.