Online gambling history has always been checkered; however, it has still managed to thrive over the past decades. Here is a brief historical development of online casino
The beginning of Online Gambling
The first internet betting site went live in the mid-’90s. Initially, an online slot began operating out of Antigua and Barbuda since the islands’ Free Trade and Processing Act. Around the same time, one of the industry’s largest software providers, Microgaming, was first coming up. In the history of online gambling, Microgaming has become one of the leading lights and a company that’s virtually revolutionized gambling online. Their software currently still supports all forms of online gaming sites, from poker rooms to everything in between.
Gaming Revelation of Online Gambling
Another significant development in the online gambling history came after the Kahnawake Gaming Commission was formed in 1996. The commission was established, aiming at issuing gaming licenses. The formation of this Gaming Commission coincided with the appearance of the first online gambling sites. Online gambling history is often littered with inaccuracies. Some sources suggest Inter Casino was the first platform, while others state that Microgaming’s offering came first.
The Rise of Sports Betting
There was a natural progression from virtual casinos to online sportsbooks. In 1996 Inter Tops emerged the first platform to offer a new way for people to wager on their preferred teams. Its initial success was followed by rapid expansion. Within two years, some of the world’s top bookmakers had opened their online gambling sites. At first, these websites offered huge bonuses and cashed back offers as an incentive to gamble online. As the market matured, these deals gradually decreased. However, the modern online gambling climate is still very much ready for bonuses if you know where to look.
Although online poker was hugely popular, Congressional lawmakers decided to pull the rug out from under players in 1996. Despite online gaming becoming more popular, politicians passed the Unlawful Internet Gaming Enforcement Act, which rendered it illegal to deposit and withdraw funds to and from an online gambling site. This decision led to a considerable amount of confusion on the legality of not only internet poker, but online gambling too. For that reason, many online gambling sites were compelled to shut down or else close their doors. The exciting thing about the UIGEA is the fact that it didn’t by itself make gambling online illegal. Instead, it attacked the payment processing companies, rendering it illegal to process payments for gambling activities for anyone residing. Unfortunately, this brought a lot of confusion, and many online gambling businesses saw this as a big challenge. Many of the significant sites resolved to stop doing business, devastating their revenues in several cases.
The future of online casino
Although online gambling, especially online slot, has had its challenges over the years, there is still hope for the future. It has already been recognized that internet gambling is the right of every legal adult, and it seems as if some countries are starting to adopt the same mindset. The top online gambling sites are now working hard to lobby politicians. Many are predicting that the coming years could see a renewed boom for the gambling industry.