Online gambling refers to any type of gambling that is carried out on the internet. This includes betting on casinos as well as sports betting. In 1994 the first online gambling facility that was open to the public was the lottery ticketing system for the World Poker Tour in Las Vegas. Online gambling sites have developed to provide a range of gambling and Fantastik casino gaming options.
The most popular gambling websites online include: Betfair and Coral Sportsbook, William Hill and Intercasino. Unibet, Fairlay, and iPoker are a few others. These companies have made a huge leap in just a few years. With these companies , you can discover a variety of online gambling. There is traditional betting where people place bets on a specific bookie, or online gambling site. Lotteries and raffles are also available and you can win tickets or cash prizes to events like music festivals, horse racing or even lottery drawings.
The issue of online gambling is a topic of interest to a number of states. They fear it will be used as a tool to encourage illegal activity and trafficking. Some state governments have taken an interest in online gambling and have created regulatory frameworks. For instance, the Department of Business and Professional Regulations and Delaware have developed licensing rules and programs, and created databases for gambling websites that are online. Many online players are aware of rules regarding online gambling and the majority of states have enacted provisions to encourage state-regulated gaming websites to continue to operate while they are reviewed.
Many countries, including the United States have taken an active part in regulating online gambling. International frameworks for policy and legal exist for online gambling. The US Congress, which controls commerce between states, has introduced legislation to legalize online gambling and penalize gamblers who gamble online. The European Commission, World Trade Organization and the European Commission are also involved in the creation of international guidelines for online gaming.
The issue with regulating online gambling at the federal level lies in the fact that federal authorities is unable to regulate interstate commerce. Gambling is considered an area-specific right of business. State regulation falls under the interstate commerce power of the states. While the power is granted at the state level it is never delegated to the federal government.
Google will soon reveal the top gambling industries within the US as Las Vegas, Macao and Playtech. Las Vegas, Macao and Playtech are the most profitable industry members. The top five Fair Play casinos 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 supported a law to allow online gambling in the Philippines during the recent Philippine elections. The reason why the US President is backing this measure is the billions of dollars that the local economy of the country is dependent on its online gambling industry. While many politicians in the Philippines are in favor of the move but the biggest issue is the inability of the nation’s leaders to back the move. The bill that is in the forefront is called the Bringing Back Gaming Control Act. It is currently under discussion in the House of Representatives. The bill’s main purpose is to tax online gambling as well as create an all-national registry of gaming websites. This would force all internet casino companies to register with the government which would require them to open new accounts in the Philippines.
The House of Representatives may pass the Gaming Control Act to Bring Back Gaming however it is highly unlikely that it will be law. Since it could have a negative impact on the Philippine economy, national politics hinders the legislation from being enacted in the Philippines. Some of the biggest issues that have been uncovered by the previous attempts include a rise in costs and reducing benefits to Filipinos. The House Majority leader however has promised that the measure will be voted on in congress.
