Online gambling is any type of betting that takes place on the internet. This includes sports betting, casinos and virtual poker. 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 are gambling websites online that offer a variety of gaming and gambling options.
A few of the more popular gambling websites on the internet include: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These businesses have made a major stride in a short time. These companies offer many types of online gambling. There is traditional betting which is where gamblers place bets on a specific bookie, or online gambling site. There are also raffles and lotteries available, where you could win tickets or cash prizes to events such as horse racing, music festivals and even lottery draws.
Many states have shown an interest in online gambling, due to the fear that it can be used to encourage illegal activities and traffic. Because of this some state governments have gotten involved and have created regulatory frameworks. Regulators such as the Department of Business and Professional Regulations and the State of Delaware, among others, have all created licensing rules and programs, and have even created databases for online gaming sites. Many internet users are familiar with the rules governing online gambling. Many states have laws which allow gaming sites that are regulated by the state to continue to operate as they undergo a review.
Many countries including the United States, have taken an active part in regulating online gambling. There are international legal and policy frameworks for gambling online and the US Congress that regulates interstate commerce, has introduced bills to legalize online gambling and to impose criminal penalties for players 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 problem with regulating online gambling at the federal level is the fact that federal authorities cannot regulate interstate commerce. Gambling is considered to be an individual business right. State regulation falls under the interstate commerce power of the states. This power is conferred at state level, but not delegated to federal government.
A simple search on Google will show that the most popular gambling industries in the US are 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 industry members are Las Vegas, Macao, Playtech, Commission Lodge, Coral Gables, Bingo Palace and Paradise Poker. The five most profitable industry members from Las Vegas are also the top five gambling cities. This makes Las Vegas a very attractive city for offshore gambling operators.
With the recent Philippine elections the US President Barak Obama spoke out in support sahabet of a law which would ivobet allow online gambling in the Philippines. The US President is in support of this proposal due to the fact that the country’s gambling industry is a major source of the billions of revenue. While many politicians from the Philippines support the move however, the primary issue is the inability of the national leadership to back the move. The bill that is in the forefront is the Bringing Back Gaming Control Act. It is currently being discussed in the House of Representatives. The main purpose of the bill is to tax online gambling and create a national registry of all gaming websites. This would force all internet casino operators to register with the government and 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 highly unlikely that it will become a law. The national political system is preventing any legislation from becoming a law in the Philippines because of fears that the bill could impact the Philippine economy. The previous attempts to pass legislation have caused major problems such as the rising cost of living and the reduction in benefits for Filipinos. However the House Majority leader has promised that the measure would still be passed by congress.
