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Online gambling is any type of betting that is carried out on the internet. This includes virtual poker, betting on casinos as well as betting on sports. In 1994, the first online gambling facility 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 which have provided a variety of gaming and gambling options.
A few of the more popular online gambling websites are: Betfair, Coral Sportsbook, William Hill, Intercasino, Unibet, Fairlay and iPoker. These companies have come a long way in a short period of time. These companies offer many types of gambling online. 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 tickets or cash prizes to events such as music festivals, horse racing, and even lottery drawings.
The issue of online gambling is a topic that has attracted the attention of many states. They are concerned that it could be used as a tool to encourage illegal activity and trafficking. Due to this, some state governments have been involved and have developed regulatory frameworks. Regulators like 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 gaming websites that are online. Many online players are aware of the regulations surrounding online gambling. Many states have laws which allow gaming sites 9wickets that are regulated by the state to continue to operate while they are being reviewed.
Many countries including the United States, have taken an active role in the regulation of gambling online. International policies and legal frameworks exist regarding online gambling. The US Congress, which controls commerce between states, has introduced bills to allow online gaming and penalize gamblers who gamble online. The European Commission and World Trade Organization are also involved in creating international frameworks for gambling online.
The problem with regulating online gambling on the federal level is the fact that the federal government is unable to regulate interstate commerce. Gambling is considered to be an area-specific right of business. State regulation is governed by the interstate commerce power of states. While the power is given at the state level, it is never transferred to the federal government.
Google will soon reveal the top gambling industry within the US as Las Vegas, Macao and Playtech. Las Vegas, Macao and Playtech are the most profitable industry members. The top five casinos in Las Vegas are also the most profitable industry members in the world. This makes Las Vegas a very attractive city for offshore gambling operators.
With the recent Philippine elections the US President Barak Obama has come out in support of a law which would allow online gambling in the Philippines. The reason why the US President is backing this measure is the billions of dollars the local economy of the Philippines is dependent on its online gaming industry. Many politicians in the Philippines have been supportive of the initiative however the primary issue is the absence of support from the nation’s leaders. The bill that is in the forefront is called the Bringing Back Gaming Control Act. It is currently being debated in the House of Representatives. The primary purpose of the bill is to tax online gambling and create an official registry of all gaming websites. This would require all online casino companies to register with the government and require the establishment of new accounts in the Philippines.
The House of Representatives may pass the Bringing Back Gaming Control Act However, it is not likely that it will be an act of law. National politics is blocking any legislation from becoming a law in the Philippines due to concerns that the bill will impact the Philippine economy. Some of the biggest issues that have been uncovered by the previous attempts include a rise in costs and reducing benefits for Filipinos. However the House Majority leader has promised that the bill will be passed by congress.