Online gambling is any form of gambling that is conducted on the internet. This includes virtual poker, gambling in casinos and sports betting. The first ever online gambling site was opened to the public in 1994. It offered lottery tickets to the World Poker Tour in Las Vegas. Since then there have been gambling websites online that have offered different kinds of Betano Casino gaming and gambling options.
The most well-known online gambling sites include: Betfair and Coral Sportsbook, William Hill and Intercasino. Unibet, Fairlay, and iPoker are just a few. These companies have made significant progress in a short period of time. They provide a variety of gambling online. There is the traditional form of betting where bets are placed on a specific bookie, or online gambling site. There are also raffles and lotteries available, where you can win tickets or cash prizes to events like horse racing, music festivals and even lottery draws.
Many states have expressed an interest in online gambling, because they are concerned that it could be used to encourage illegal activity and traffic. Some state governments have shown 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 created licensing rules and programs, and even set up databases for online gaming websites. Many online players are aware of the rules and regulations governing online gambling. Many states have laws which allow gaming sites that are regulated by the state to continue to operate while they are being examined.
Many countries including the United States, have taken an active role in the regulation of online gambling. International legal and policy frameworks exist for online gambling. The US Congress is the one that regulates interstate commerce, 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 guidelines for online gaming.
Regulating online gambling at a federal level is a problem since the federal government doesn’t have the power to regulate interstate commerce. Gambling is considered an area-specific right of business. The power to conduct commerce between the states covers state-level regulation. This power is conferred at state level, but it’s not delegated to federal government.
A simple search on Google will reveal that the top industry of gambling 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. Las Vegas, Macao and Playtech are the most profitable industry members. 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, US President Barak Obama came out in support of a law that would legalize 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 contributor to the billions in revenue. While many politicians in the Philippines support the move but the biggest issue is the inability of the national leadership to support the move. The main bill being proposed is the Bringing Back Gaming Control Act that is currently under discussion in the House of Representatives. The primary purpose of the bill is to tax online gambling and establish a national registry for every gaming website. This will force all online casinos to register with the government and force that they open accounts in the Philippines.
While the legislation to bring back gaming control may pass the House of Representatives, it is not likely to become a law. Since it may have a negative 7Games Casino effect on the Philippine economy, the national political system hinders the legislation from being enacted in the Philippines. Previous attempts have led to major problems such as rising costs and cutting benefits for Filipinos. The House Majority leader however has said that the bill will be passed by congress.
