Interesting Facts from History: The Formation of Online Gambling

the formation of online gambling

It’s no secret that today there are a large number of online casino platforms. To play or not to play? That is the question! Everyone will answer differently for themselves… However, for many of us, the question remains open of how online gambling was formed in general and how we came to the emergence of VR technologies and live games.

First Online Casino

Of course, the development of this industry was greatly influenced by the development of technology and the advent of the Internet. Well, what follows is that some people who love to gamble have decided that they want to do it without leaving home.

This first happened in the early nineties. So, in 1994, an agreement was officially signed in Antigua and Barbuda, which allowed for legal gambling activities on the Internet. Then the first online casino appeared, InterCasino, which was launched by a Microgaming company. Since then, this has been considered the beginning of the emergence of such a trend of gambling as online gambling on a global scale.

At the moment the online gambling industry has expanded significantly and offers all players, without exception, a wide range of games and services. If at first these were the simplest kind of slots, traditional poker, blackjack and roulette, now the structure of online casinos includes more than 20 types of online games on platforms, and there are more varieties of them.

Therefore, everyone thirsty for excitement will find a game to their liking in modern casinos like Joocasino. This includes advanced roulette, poker and gaming slot machines, also Bingo and Keno, live blackjack, live lotteries, live poker, and etc.

First Online Betting

woman show other women information from mobile phone

It is interesting that already in 1996 an online bookmaker InterTops was launched for the first time, which already at that time allowed players to place bets online on various sporting events.

Moreover, initially bets were accepted by telephone and this primarily affected Germany – naturally, such an innovation had a positive impact on such an area as betting. And only after a while such an innovative solution affected England, and then other countries of the world.

But I’ll make a small digression… At the time of the advent of telephone betting, this gadget was considered a luxury, but it was InterTops, sensing that this was the future, that slowly began to develop mobile applications with the ability to place bets via the Internet.

Regulation and Legalization

I note that one of the most interesting aspects of the formation of online gambling is its regulatory framework, which has undergone changes over the course of several years. In the beginning, many countries tried to define and regulate this new form of gambling.

However, in 2006, the United States passed a law banning illegal gambling on the Internet. Also banks were prohibited from processing transactions that were related to online gambling. But already in 2011, this law was changed in favor of legalization in certain States.

Of course, a lot of water has passed under the bridge since those times, everything has changed dozens of times and changed their minds. That’s why today, gambling is considered more than legal in many countries, but there are strict rules to help ensure fair and responsible gambling.

The Impact of Technology Development

casino cards, dices and chips

The next factor that played an important role in the formation of such a trend as online gambling is, of course, the leap in the development of technology. Not surprisingly, with the development of secure payment systems, more sophisticated software and high-speed Internet connections, online gambling opportunities have also expanded dramatically.

People have become interested not only in finding the necessary information, but also in recreation, including gambling. It is interesting that with the release of the first iPhone in 2007, many more mobile versions of gambling games began to appear which made it possible to further enrich the gambling industry. After all, initially players could only play through desktop computers, which at that time were more of a luxury item than a necessity.

Well, then it developed into games on phones, which made life much easier. After all, it has become much more convenient and faster, you don’t even have to get out of bed. Of course, this has its pros and cons, but that’s a completely different story.

Global Economic Influence

slots machine at casino

But what is the impact of online gambling on the economy of society as a whole, you ask? Everything is very simple here! Ironically, it is online gambling platforms that have created thousands of jobs, generated billions of dollars in revenue and, of course, contributed to the growth of the digital economy.

A small note: today the global online gambling market is estimated at tens of billions of dollars, and even despite this, forecasts only show its further growth. It happens because people find themselves in this business – some at work and others at leisure. Along with all the good things, there is also a dark side to gambling, namely people’s fears associated with gambling problems such as money laundering, as well as the moral component of this difficult matter – gambling addiction.

Most of those involved in gambling and betting sooner or later reveal the germs of such addiction in themselves. But the decision remains up to them – to continue to aggravate or ask for help, or initially approach this with a cool head. This is why regulators around the world seek to monitor the gaming industry.

After all, from the very beginning to the present moment, online gambling has developed on a colossal scale. For this we can thank the development of technology and achievements in this area, as well as the change in society’s attitude towards gambling over time.

Yes, to this day there are controversies surrounding this area, but despite them, the popularity of types of online games only continues to grow throughout the world, attracting a large number of players every year. Therefore, from this point of view, it will be very interesting to see how the industry will continue to adapt to new challenges and opportunities.