Online Gambling in the Philippines
Online gambling is any type of gambling conducted online. This includes casinos, live casinos, and virtual poker. The first online gambling site opened to the public, was online ticketing for the infamous Liechtenstein International Poker Tournament in 1994. Since then, online gambling has grown into a multi-million dollar business with countless websites and hundreds of software developers creating games for these computers.
The growth of online gambling can be directly attributed to the Internet, which allowed millions of people to access websites from anywhere around the world. Now, instead of driving to Vegas or Atlantic City to take part in one of the many sporting events, you can simply log on, pay whatever amounts you want and have a good time. However, there are some risks associated with this type of gambling. For instance, online lotteries and sports betting can involve a lot of risk, especially in regards to computer programs which are programmed by amateurs. Many people have lost large sums of money to these types of programs.
One of the biggest risks associated with online gambling is that, if you happen to be dealing with a casino, they will not take care of you. Instead, they will try and scam you, taking your money and never providing you with what you expect. It’s often best to deal with reputable companies, as listed below. Firsthand dealers (the ones who personally know and care about the product) are the best choice for legal gambling, especially with regards to products like iPods and MP3 players. Many dealers use real world money for transactions, so you should always check out the background and history of any dealer before giving them your money.
Many people make the mistake of thinking that because a transaction is done over the Internet, it doesn’t require a face to face transaction or even a telephone call. The truth is that online gambling is still considered to be illegal in the Philippines. Anywhere in the world where online gambling is taking place, there are laws that need to be followed. One of these laws is the Payment Card Industry Data Improvement Act (PCIIDIA).
The PCIIDIA was enacted by the United States Federal Trade Commission in the year 2021 and states that all payment card companies will be bound to collect and provide information on all card transactions happening within their networks. This includes all Filipinos who make payments using their cards. This law is basically meant to discourage card skimming, which is a common problem in the online gambling industry. Card skimming involves a Filipino player who gets his hands on huge portions of payments from other gamblers. This is considered to be an illegal form of gambling in the country.
The legality of online gambling is still up in the air, but one thing is for sure. People from the Philippines are continuously going online and placing bets. This has lead to a significant increase in the number of online betting portals as well as casinos. With such a huge influx of new players, it would be easy for an illegal business to surface. In order to eliminate such a possibility, the Philippine government has made it a point to enforce its own laws on online gambling, making it illegal to conduct transactions through banks and other financial institutions.