History of the Online Gambling Industry | Bingo Nice

Gambling lovers have been loving gambling games since ages. The options were limited in the past but over the years gambling face has changed. There are multiple options now that are easily accessible. People can even go through the reviews of top online gambling site at Bingo Nice and select the best site to play better. Since the gambling platforms have been upgraded from offline to online, gambling industry is blooming. The online platforms offer numerous gambling game options. Some of the best online gambling sites provide the options of online poker, bingo slots, sports betting, novelty betting, etc.

History of Online Gambling by Bingo Nice

There is always a start to things. Online Gambling Industry also had some interesting beginnings as and with the onset of internet popularity. The rise of the online gambling industry has been quite rapid.

The year 1994 marks the origin of first online casino. Prior to this, a gambling software was created by Microgaming. All the transactions could be made online with the help of another software known as cryptologic. The working of these softwares hand in hand led to the development of the first online casino in the year 1994.

Barbuda and Antigua nation was the first to legalise online gambling. License were given to companies which wanted to offer gambling services through the internet. It all became legal with the Free Trade and Processing Act. Generally the best online gambling sites possess regulatory licenses.

1994

The first online casino was InterCasino and it became distinct because of its activities in 1994. Since then every year has been marked with different establishments in the field of gambling industry.

1995

The year was marked with the launch of blackjack, video poker & roulette.

1996

1996 was the year of establishment of the Kahnawake Gaming Commission. The commission was setup to issue gaming licenses to online casinos and poker rooms all across the world. The commission even regulated the online gaming activity.

1997

There were 15 gambling websites operational in the year 1996. This number rose to 200 in 1997. Thus, 1997 was marked as the year of internet gambling websites.

1998

It was in the year 1998 that online poker room opened. This year marks the revelation of exceeding revenues to $830 million. The first poker room was also launched in the same year.

1999

Introduction of the Internet Gambling Protection Act stating that no US citizen cannot be offered any online gambling product by any company. The year was also marked by multipurpose online gambling wherein players could interact while gambling.

2000

2000 was the year when the Interactive Gambling Moratorium Act was passed by the first Australian Federal Government. As per this act, any online casino without license would be considered illegal for operations.

2001

This year was the hailing year for online gambling as the interested population rose to 8 million. Nothing changed even after the complex legislation process & lawsuit struggles.

2002

With 2002, emerged the Top Online Gambling Site Reviews of those times. It was the Online Casino Reports that gave an insight into the then created online gambling industry.

After 2002, online gaming options increased and independent, standard authority named eCOGRA was created. Soon, there emerged various payment methods for online casinos. Finally, in 2014, Bitcoin was accepted as an crypto-currency.

A major setback was received to the online gambling industry when the US banned all online gambling services. On the other hand, Canada welcomed online casinos and gained major profits from Online Gambling Industry.

jessicadaniels

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top
shares
error

Enjoy this blog? Please spread the word :)