History Of Online Gambling

We have seen how gambling has taken on many forms throughout history. Wagering bets on a battle or chasing down a wild boar the fastest-just to name a few. Dice games followed and later on came cards game, roulette, sports bets and all the other gambling options we have today. All of these games were played in one specific place, by a group of like minded people. You can say casinos were beginning to take their shape, offering a glamorous and unique atmosphere for gambling.

We don’t have to go very far into the history of online gambling as we look back. It all started in 1994 at a small island in Antigua and Barbuda, when the legalization of online gambling was passed. With this, the online gambling moved on to the next generation. Continuing to soar high, it has never looked back.

Everything changed with the coming of the latest technology and the Internet. Practically changing our lives in many ways and in every aspect of life, it was no surprise of it’s inevitable effect on gambling, as the history of gambling online showed. Online gambling caught on like fire and is today one of the most prosperous online industries in the world with billions of dollars in revenue each year, and the numbers just keep growing.

The first fully operational online casino was developed by the gaming software- Microgaming. It made way to the many online gambling sites that followed. An online security software company- CryptoLogic, provided the much required software making online transactions safe and viable.

The online gambling history shows that definitely, it didn’t have a smooth start. The online casinos had to tackle issues on legality and addiction to gambling. Moreover, many people never really liked the idea of gambling online. So online gambling had to face several anti-gambling campaigns and battle for its approval.

The internet has definitely made great contributions to the success and development of online gambling. With the advent of latest technology, people can today enjoy their favorite casino game anytime, anywhere in the world. It is on the verge of becoming one of the biggest profitable industries in the world.

In 1890’s, gambling was completely banned in the US when lotteries were the most common form of gambling. In the gambling online history , the 1920's saw its comeback. With the stock exchange crash in 1929, the gambling was legalized in order to stimulate the economy. In 1931 gambling was finally fully legalized in the state of Nevada. Americans could now finally gamble freely at a place, with Las Vegas as the center of the action.

The first online casino offered 18 different games and online access to the National Indian Lottery. Raking in billions of revenues, there was no looking back. The online gambling spreads out through many countries. It became necessary to have an organization, with laws and regulations uniting all online gambling sites under a same set of rules and standards. Today, eCOGRA plays that role, regulating and monitoring online gambling sites. It acts as a benchmark for online gambling.

However, on September 30 2006, the United States Congress passed a bill, thus making it illegal for banks and credit cards companies to process payments from U.S. residents to online gambling companies. The bill later became law when President Bush signed it on October 13.this led to an obvious major downfall of online gambling companies stocks. Despite the legality issues, many people still want to become part of the online gambling.

It is true that the online gambling industry has run into a major reverse with the recent anti-gambling law in the United States. This is a crucial hour but an interesting time for the online gambling. It remains to be seen if it will get back on its feet. But if the history of online gambling teaches us anything about gambling, it's seen that it always able to survive and cannot be contained for long.

Continuing to surpass all obstacles and rising stronger than ever, the online gambling industry is definitely here to stay.

 

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