Business Daily Media

.

A Brief History of Online Gambling

  • Written by News Co

The human race has reached a critical time in its history where it cannot survive without technology. Just imagine a world without the internet. 


Since its inception nearly three decades later, the internet has defined our way of life so much that we depend on it for survival. 


The internet changed how industries operate and continue to provide endless opportunities. One such industry that the World Wide Web has significantly impacted is the gambling industry.


Origin of Online Casinos


The development of online casinos can be attributed to implementing the Free Trade and Processing Act, a law that Antigua and Barbuda's government passed in 1994.


The law gave the tiny Caribbean nation the mandate to issue licenses to private companies that wanted to open online gambling platforms.


The same year, a software development company named Microgaming was launched in the Isle of Man, an event that set the pace for developing subsequent online gaming platforms.


Despite having limited personnel and resources, Micromanaging became the sole developer of the world's first successful online casino: The Gaming Club.


Although it initially did not have many sophisticated features found in contemporary online gaming sites, the Gaming Club significantly impacted the online gaming industry. It allowed players to play and earn from their computers when the internet was still evolving. 


Over the years, other new industry players took the cue and made immense contributions to the industry. However, the innovative efforts that Microgaming invested in the industry set them apart as the real pioneers of online gambling and a household name to this day.


Online Payments


In 1995, the missing piece in the fast-growing online gambling industry was developed by CryptoLogic, the finance company that provided real money online transaction services. CryptoLogic developed online transaction services for online gaming casinos through their InterCasino platform. With that, it became the pioneer of online transactions for online casinos and created a safe and payment process for online gamblers.


Together with Microgaming, they were responsible for shaping the future of online casinos. 


Competition and Later Innovations


With the launch of the Gaming Club and InterCasino, investors realized the untapped potential in the online gaming world. Before long, the two companies grew in popularity, and with the popularity also came new industry players and stakeholders. Several other casinos were launched and with them came stiff competition.


To stand out, many online gaming sites developed new strategies to provide something new for their customers. Today, we have sites offering exciting features such as the themed slots, progressive jackpots, and multiple games. More can be found at PlayAmo casino.


A quarter of a century later, the online casino industry continues to evolve with innovation, high-quality software, and content is the primary objective of developers and service providers. 


These key industry players are inspired by one goal, which is to develop the best possible online gaming experience.

Business Reports

Why Retail Stores Should Beef Up Their Security

Security should be a top priority for any retail business. Everyone wants to feel safe and confident as they go about their days, which is why home security systems are rising in popularity. However, safety for the home is not...

Belinda Giles takes on CFO role at Architectus

Architectus welcomes Chief Financial Officer and Principal, Belinda Giles, to its national leadership team – a key appointment in the evolution of the architecture and design practice.  A Chartered Accountant with an inter...

Australians are tapping into new income streams to offset rising costs

How a side hustle can boost the household budget   Australian’s household budgets are being put under increased pressure by rising inflation and higher interest rate. Petrol costs have risen 25% over the past 12 months[1]...