The World wide web has become an integral part of people, and there is a growing reliance on it, whether you like it or not. The internet has changed the way things are accomplished, and the industries has dramatically impacted gambling also. Gambling includes sports betting, poker, casino games, etc. The history of online gambling is full of twists and turns but now there are numerous casinos, and online gambling is a billion dollar industry, (click here to learn about the benefits of gambling). Read below to know more about how online gambling has evolved over the years.
Before online gambling: Basic online gambling existed long before it became legal. In 1992-93, A casino software company called the Microgaming created the modern gambling software and games that are compatible with it. It partnered with Cryptologic that provided security against unauthorized access and also managed the transactions and storage of user data. The software was commercially used only after a few years when the first online casino was established.
Online gambling: The roots of online gaming can be traced to Antigua and Barbuda which is a Caribbean island. It was the first country to legalize online gambling by passing the Free Trade and Processing Act in the year 1994. That allowed companies as well as individuals to set up online gambling. That resulted in many online casinos starting operation in Antigua and Barbuda; its closed rival was Malta.
After that, the next significant development came when the Kahnawake Gaming commission came into existence in 1996. It was operated by a Canada based Mohawk Indian Tribe that issued gaming licenses. The formation of this commission coincided with the start of online gaming websites, which saw significant growth. By 1996 there were about 15 online gambling sites, and the next year the number rose to 200 online poker sites, casinos and sportsbooks with a revenue of $1 billion.
Sports betting: There was a natural progression from poker sites, online casinos to online sportsbooks in 1996. The Intertops was the first website to offer bets on their favorite teams. It was a huge success, and within a few years, some of the top bookmakers started their online gambling websites. Initially, the punters got huge perks, and cash-back offers as incentives, but as the market matured all that decreased. The modern online gambling does provide bonuses, but you should know where to look.
Online poker: Planet poker is considered as the first online site to offer poker and was found in the year 1998. Due to technical issues, the users could not use the site which led to its failure. Post its failure, many other websites came into being, and one such is Paradise poker which was started in 1999 and became the most prominent platform with thousands of users. But it was Partypoker which is a significant contributor to the popularity of poker due to its online tournaments. Chris Moneymaker was the first player who won $2 million as an amateur and in the process motivated a lot of other people to try their luck at poker.