Interesting Information about the History of Online Casinos

February 22, 2016
Jess

For those of us who grew up with the internet, it seems obvious that online casinos would exist. But the road to transitioning from brick and mortar casinos to those available 24/7 and at the touch of a button has actually been a long one. It’s easy to assume that websites like netbet.co.uk have been easily accepted into most countries, but this is false for the most part, and online casinos have come up against plenty of competition and controversy.

Online casinos were first allowed to be licensed in Barbuda and Antigua. This led to Microgaming inventing better and more intuitive software for players, and Cyptologic developing encryption software so players could take part in online games without worrying that their bank accounts would be emptied.

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Intercasino had the first ever online wager in 1996, and with the popularity of the industry growing daily it was decided that it would need to be regulated, and the Kahnawake Gaming Commission was formed in order to ensure that online casinos were both regulated and licensed.

Online casinos seemed to be just what the industry was looking for, and by 1998 there were more than 700 available for players to choose from. By 2002 online casinos were bringing in more than 2.2 billion each year, with players from the United States largely contributing towards profits.

This would all end in 2005 though, when the Unlawful Internet Gambling Enforcement Act was passed, preventing banks and credit card companies from processing any transactions made on online casinos. International casinos focused their attentions away from the US and instead looked abroad, where more and more countries were opening up to online casinos.

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In Europe, online casinos were once only the playground for young men, but the demographics of internet users have changed greatly, with older age groups of both sexes and far more females spending time online. This has led to more profits for online casinos based in Europe and the United Kingdom.

The online casino industry has had to fight to keep going in the United States. In 2011 in US government shut down a number of online casinos after it found that they were violating the UIGEA. It’s not all bad news for the industry in the US though, since some states have legalised online casinos, including New Jersey, Delaware and Nevada, with at least nine other states introducing legislation which may pave the way for legalised online casinos in the future.

It’s important to note that the casino industry has not just improved with access to the internet- it has thrived. Unlike industries like movies which have been changed forever with the invention of Netflix (ensuring that video stores didn’t have a chance and quickly went out of business), casinos around the world continue to draw visitors, while the online casino industry is also worth billions each year- players simply like having the ability to gamble from their own homes.

 

 

 

 

 

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