The History Of Online Gambling
Online Gambling grew from its modest beginning to be a gigantic multi-billion industry which is present in just about every corner of the world.
Online gambling is an extremely popular industry which has expanded in a relatively short time in just about every country in the world. While it is basically a household name, online gambling didn’t start off so strong. The slow beginning and its exponential growth in the last decade had a lot to do with improvements in safety and the quality of games.
The first gambling jurisdiction was created in Antigua and Barbuda, small country in the Caribbean. It was established in 1994, when a new piece of legislation legalized online casinos, allowing operators to get licenses for online gambling websites. While the changes were groundbreaking, the popularity of online gambling, and even the general use of the internet was low. It would take several years for things to grow into the cultural phenomenon online gambling is today.
Another important milestone in the history of online casinos is the appearance of the first dedicated software developer. The company was called Microgaming and was established in 1994.
Another big issue that played a big part in the growth of the industry was safety. With improved security more clients could use online gambling websites. Things changed in 1995 when Cryptologic started providing safe transactions. With secure transactions being a reality, Microgaming didn’t waste any time and launched the world’s first real money online casino in October of 1995.
But even with dedicated software and secured transaction online casinos didn’t immediately take off. In fact, while the first real money casino was launched in 1995, the first actual bet placed at an online casino took place in 1996. It happened at InterCasino which boasted an offer of 18 games.
The industry began picking up steam and by 1998, online casinos gained quite a lot of popularity. It was during the same year that Microgaming launched the first progressive slot game. Cash Splash was based on a jackpot which could be won at any point and would grow with every bet placed in the casino. The same year saw the apparition of online poker. This led to further growth and by the time the millennium celebration came around there were around 700 operational online casinos on the market.
More permissive legislation was drafted for years after which made getting a licence easier. The biggest change was in the UK, which adopted progressive legislation that granted a lot of freedom for online gambling back in 2005.
Not all legislation was in favor of online gambling with UIGEA passing in the US in 2006. It basically made betting online through banks illegal. The industry kept growing in Europe and other international market while in the US lawmakers made several moves against the industry culminating in the ban of numerous huge brands in 2011.
The mobile gambling expansion was also huge, helping the entire industry grow beyond any predictions while also attracting numerous new players.