Online gambling refers to any kind of gambling that is conducted on the internet. This includes virtual poker, casino betting and betting on sports. 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 gambling and gaming options.
A few of the more popular gambling websites on the internet are: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made a significant stride in a short time. They offer a variety of online gambling. For instance, there is the traditional betting where people place bets on a particular bookie or an online casino. Raffles and lotteries are also available, where you could win tickets or cash prizes to events like music festivals, horse racing and even lottery draws.
Online gambling has been a topic of interest to many states. They are concerned that it could be used to promote illegal activity and trafficking. Some state governments have taken an interest in online gambling and have developed regulatory frameworks. In addition such as the Department of Business and Professional Regulations and Delaware have created licensing programs and rules and set up databases for online gambling websites. Many online players are aware of the rules and regulations governing pokerstars poker real money online gambling. Many states have laws that allow state-regulated gaming sites to continue operating as they undergo a review.
Many nations 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 who regulates commerce between states, has introduced bills to legalize online gaming and penalize those who gamble online. The European Commission and World Trade Organization are also involved in creating international frameworks for gambling online.
Regulating online gambling at a federal level is problematic because the federal government can’t control interstate commerce. Gambling is a local-level business right. The power to conduct commerce between the states covers the state’s regulation. While the power is granted at the state level it is not delegated to the federal government.
Google will shortly reveal the top gambling industry in the US as Las Vegas, Macao and Playtech. Las Vegas, Macao and Playtech are the most profitable players in the industry. Five of the most lucrative members of the industry 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 backed a law to legalize online gambling in the Philippines during the recent Philippine elections. The reason that the US President supports this initiative is the billions of dollars that the local economy of the country depends on its online gambling industry. While many politicians from the Philippines are in favor of the move however, the primary issue is the inability of the national leadership to back it. The bill that is in the forefront is the Bringing Back Gaming Control Act. It is currently under discussion in the House upsports bet bônus of Representatives. The main purpose of the legislation is to tax gambling online and establish an all-national registry for all gaming websites. This will force all online casinos to register with the government and force them to open new accounts in the Philippines.
Although the returning of the gaming control act may pass the House of Representatives, it is unlikely to become law. Since it may have a negative impact on the Philippine economy, national politics is preventing the legislation from being enacted in the Philippines. 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 said that the bill will still be passed in congress.
