The Filipino Online Gambling Industry
Online gambling is any type of gambling conducted via the internet. This includes online casinos, live casinos and online sports betting. However the very first online gambling site to open to the public, was ticketing for a special yearly lottery in Las Vegas, Nevada in 1994. All online gambling has since then been conducted via the internet using software platforms that connect players from all around the world.
As a matter of federal law in the United States, online gaming is against the law since the age of majority. This means that people under the age of 21 can gamble online but not without supervision. Since online gambling was introduced to control the problem of online gambling, it followed with the same agenda, which was to keep online gaming legal. The thing is though, online gambling was never illegal in the first place, it was just considered illegal from a business point of view and a revenue point of view. The whole issue came into light when the government realized that they could lose millions if online gambling was illegal, and in the end they made it illegal.
Today, however, online gambling apps are perfectly legal and there are even some states who allow internet users to gamble online. There are a lot of reasons for this. Many state governments realize that these forms of revenue generation is vital to their financial health. It helps to keep their highways, ports, airports and railways operational. It also supports many local and state revenue programs, thus creating more jobs. Gambling is actually very good for the business and in turn creates jobs.
A perfect example of how online gambling works is the World Series of Poker. This is an online gambling website where individuals can log in and play poker games from all over the world at the same time. The website, run by Las Vegas, is managed by a company called Philweb Corporation. The company has partnered with several other companies around the world including Ladbrokes, Intercasino and Betdaq. These companies together will serve as the outlets for online gambling activities in a particular jurisdiction.
Online gamblers not only benefits the online gambling industry by being able to rake in good money, they benefit the Philippine economy as well. The government realizes how lucrative the online gambling industry is trying to do something about it. Unfortunately the law is very restrictive and hard to enforce in the Philippines so many people are looking to other countries where they can gamble without getting thrown in jail. The reason why the law is so strict is that the Philippine economy is in shambles and the tourism industry is virtually dead.
Luckily the situation is gradually changing and authorities realize the importance of the online gambling industry in the country. Several local gambling websites have already opened up and hundreds more are expected to be launched in the near future. As long as gambling remains illegal in the Philippines, there will continue to be a strong contingent of internet users that will continue to get involved in betting and gaming online. The only thing that will really change is the quality of the games and the overall quality of life in the Philippines.