The history of online casinos begins with first gambling. It has existed for thousands of years and will probably last forever. Human nature is driven by gambling, the hope of taking risks and winning something big. Historians have researched plenty of stories where people put everything they had to win in specific games.
In histories, gambling has been done in various ways, such as betting to win the war or catch the boar. In the meantime, games and primitive games have become risk-taking outlets, and today card games, roulette, sports betting and casino games are emerging. What all these games have in common is that bettors can get together in a particular place to see and hear and smell their opponents. History of casino also gave a push for creating an online format.
History of Online Casinos Starts Here
The history of online casinos starts in 1994. A small island nation called Antigua and Barbuda became the initial factor for the online gambling industry. Not only was the decree authorizing gambling in Antigua that year, which marked the beginning of online gambling, but also many online gambling organizations still operate from there. It was game software that saw this new opportunity before the launch of online casinos.
Cryptologic, a developer of web security software, provides software that enables secure execution of money transactions on the Internet, which led to the establishment of the first online casino, InterCasino, in 1995. However, web gambling was not going well at the time of its establishment. There were various, especially legal obstacles, and many opposed it. The controversy was specifically addressed in the US Congress by Senator Jon Kyl from Arizona, USA. Kyle has run several opposition campaigns to protect American citizens from internet gambling.
Internet-gambling with new technology
Twenty years later, in the mid-1990s, the World Wide Web will revolutionize the gambling world. Technological innovation has made it possible to gamble anytime, anywhere.
The history of online casino games begins with a website that had 18 games and you can now access the National Indian Lottery online. The on-line gambling industry’s revenue in 1997 was reported to be $ 1 billion and $ 600 million in the United States alone.
- Revenues tripled in 2001 to $ 3 billion worldwide
- nearly tripled to $ 8.2 billion in 2004
- they exceeded $ 15 billion in 2006.
The internet gambling industry’s forecast was to increase revenue to $ 25 billion in 2010, but this has been amended by legislative changes in the United States. However, in countries that are not considered illegal, the development of this industry has been confirmed.
Modern Online Casino History
A historic moment occurred in 2003 when an organization called eCOGRA (eCommerce and online gaming regulation and assurance) was established to provide an environment where online casinos can be used safely. Today eCOGRA sets the standard for this industry by controlling and monitoring over 100 casino sites.
To Sum Up
While the internet gambling industry will survive these setbacks, it is undeniable that it has faced the greatest challenges for casino companies, which earn half or more of their total revenue in the United States. It is a deadly and interesting time for the story of the online gambling industry. The highlight is whether the business situation will return to normal and a stronger foundation will be built than before, or only the major companies that are not vulnerable to the crisis will survive.