Online gambling is any form of gambling that is conducted on the internet. This includes casino betting and betting on sports. The first ever online Gamdom Casino gambling website was made available to the public in 1994. It offered lottery ticketing to the World Poker Tour in Las Vegas. Since then, there are gambling websites online which have provided a variety of gambling and gaming options.
Some of the most well-known gambling websites online include: Betfair and Coral Sportsbook, William Hill and Intercasino. Unibet, Fairlay, and iPoker are just a few. These companies have come a long way in a short period of time. With these companies you can find a variety of online gambling activities. There is the traditional form of betting which is where gamblers place bets on a particular bookie or gambling sites online. Raffles and lotteries are also available and you can win cash or tickets to events such as music festivals, horse racing and even lottery draws.
The issue of online gambling is a subject of interest to many states. They fear that it will be used to promote illegal activity and trafficking. Because of this some state governments have become involved and created regulatory frameworks. Regulators like the Department of Business and Professional Regulations and the State of Delaware, among others, have created licensing programs and regulations and have even created databases for gaming websites that are online. A lot of internet players are aware of rules regarding online gambling and most states have made provisions to encourage state regulated gaming websites to continue to operate while they undergo a review.
Many countries, including the United States have taken an active part in the regulation of online gambling. International policies and legal frameworks exist for online gambling. The US Congress who regulates interstate commerce, has introduced bills to allow online gaming and penalize those who gamble online. The European Commission, World Trade Organization and the European Commission are also involved in the development of international frameworks for online gaming.
Regulating online gambling at the federal level is a problem since the federal government doesn’t have the power to regulate interstate commerce. Gambling is a local enterprise right. The power to conduct commerce between the states covers state regulation. Although the power is granted at the state level it is not delegated to the federal government.
Google will soon identify the top gambling companies within the US as Las Vegas, Macao and Playtech. Of these seven , the most profitable members of the industry include Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The top five gambling cities located in Las Vegas are also the most lucrative industry members in the world. 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 US President supports this measure due to the fact that the country’s gambling industry is a major contributor to its billions of dollars in revenue. While many politicians in the Philippines support the move but the biggest issue is the inability of the nation’s leaders to back it. The main bill proposed is the Bringing Back Gaming Control Act that is currently under discussion in the House of Representatives. The main goal of the bill is to tax online gambling and establish a national registry of all gaming websites. This would require all online casinos to sign up with the government which would require the establishment of new accounts in the Philippines.
The House of Representatives may pass the Gaming Control Act to bring back gaming However, it is not likely that it will be a Boomerang Casino law. Since it could have a negative impact on the Philippine economy, the national political system has prevented any legislation from becoming law in the Philippines. The previous attempts to pass legislation have led to major problems, including increasing costs and reducing benefits for Filipinos. However, the House Majority leader has promised that the measure will be approved by congress.