There are various industries which has experienced tremendous growth in the recent years with the popularity of the Internet all over the world. Online gambling is a million dollar business which is gaining popularity in the recent years. Land-based casinos started to lose its reputation with the advent of the Internet. Online gambling has been the talk of the world and the benefits offered has made the business to thrive for many years. Visit the site easyslots.com/all-games/slots/fluffy-favourites for playing exciting games. Check it out, the statistics of the growth of the online casino industry on the Internet.
The article below gives an overview of the history of online gambling.
Online gambling was established in the mid 90’s, and it began its operation in the city of Antigua and Barbuda. Online gambling started to evolve as the Free Trade and Processing Act were passed around the Caribbean nations which granted licenses for people who are interested in starting online casinos. Microgaming, a software provider, revolutionised online gambling in the early years, and they made it a prominent industry in the world. This software supports a significant number of online gambling sites even in the current online gambling world.
Evolution Of Online Gambling
In the year 1994, online gambling was first awarded its official license. In the same year, a software provider came up with an online platform for online gambling. In the year 1996, the first stand-alone online casino was established. It offered non-stop entertainment for gamblers and came up with table games and slots. In the year 1998, the first progressive jackpot was launched by Microgaming. Online gambling market was raised to several million in the year 2003. In the year 2005, the UK came up with a gambling act passed on by the labour government. It was the first update done for online gambling since its inception. According to the law only selected online games were permitted for advertisement. A commission was established to monitor the online gambling games played in the UK. In the year 2006, the online gambling industry saw its latest advancement with the launch of live dealer gambling games. In the year 2008 online gambling hit the world market with $21 billion. Online gambling switched its platform to mobile, and this offered the convenience of betting from anywhere and anytime. After the year 2000, there was a new trend that came into the picture when Betfair entered the online gambling market. Online gambling was taken to the next level when peer-to-peer wagering came into existence. Live sports betting are the latest development in the world of online gambling which has made betting exciting and interesting.
Online Gambling Revelation
A significant development in the history of online gambling came after the formation of Kahnawake Gaming Commission in the year 1996. The commission was formulated mainly for issuing licenses for online gambling. In the year 1996, there were nearly 15 online gambling sites in operation. In the next year, there were hundreds of online casino platforms established with the increase in the annual revenue.
With the considerable development in the history of online gambling, you can expect a better future for the game of betting in the years to come.