Online gambling is any form of gambling that is conducted on the internet. This includes sports betting, casinos as well as virtual poker. In 1994, the first online gambling venue that was ever open to the public, was lottery ticketing for the World Poker Tour in Las Vegas. Since then there are gambling websites online that have offered different kinds of gambling and gaming options.
A few of the more well-known gambling websites online are: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have made a significant 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 gambling websites online. There are also raffles and lotteries available, where you could win cash or tickets to events such as music festivals, horse racing, and even lottery drawings.
Online gambling has been a topic of interest to a number of states. They fear that it will be used as a tool to encourage illegal activity and trafficking. Because of this some state governments have been involved and created regulatory frameworks. Regulators such as the Department of Business and Professional Regulations and the State of Delaware, among others, have all created licensing programs and regulations and have even created databases for gaming websites that are online. Many internet gamers are aware of regulations regarding online gambling and a majority of states have made provisions to allow state-regulated gaming sites to continue operating while they are reviewed.
Many countries including the United States, have taken an active part in regulating gambling online. International legal and policy frameworks exist regarding online gambling. The US Congress is the one that regulates interstate commerce, has introduced bills to legalize online gaming and penalize gamblers 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.
The problem in regulating online gambling at the federal level lies in the fact that the federal government is unable to control interstate commerce. Gambling is regarded as an individual business right. State regulation is governed by the interstate commerce power of states. The power is granted at the state level, but it is not delegated to the federal government.
Google will shortly reveal the top gambling industries within the US as Las Vegas, Macao and Playtech. Las Vegas, Macao and Playtech are the most profitable members of the industry. The five most profitable members of the industry from Las Vegas are also the top five gambling cities. This makes Las Vegas an attractive city for offshore gambling operators.
In the last Philippine elections, US President Barak Obama has come out in support of a law that will allow online gambling in the Philippines. The reason that the US President is backing this measure is the billions of dollars the local economy of the Philippines depends on its online gambling industry. Many politicians from the Philippines have endorsed the move however the biggest issue is the absence of support by the national leadership. The main bill being proposed is called the Bringing Back Gaming Control Act, which is currently under discussion in the House of Representatives. The main purpose of the bill is to tax online gambling and establish an all-national registry for all gaming websites. This would force all internet casinos to register with the government, and require them to open new accounts here 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 law. Since the bill may have a negative impact on the Philippine economy, the national political system hinders any legislation from becoming law in the Philippines. Previous attempts have led to major problems, including rising costs and cutting benefits to Filipinos. However, the House Majority leader has promised that the measure will be passed by congress.