The 1990s: the appearance of the first online casinos
The first online casinos appeared in 1994. It was then that Microgaming developed the first online gambling platform. At the same time, the State of Antigua and Barbuda adopted the "Law on Free Trade and Information Processing", which prescribes a mechanism for issuing licenses to representatives of the gambling business. This bill has spurred the development of iGaming and iGambling on the Internet.
By the end of 1996, there were 15 online gambling sites. By the end of 1997, the industry had grown dramatically, and more than 200 online casinos, poker sites and bookmakers with annual revenue of $ 1 billion were available worldwide💰. One of the main reasons is the introduction of the "progressive jackpot" concept. Unlike fixed jackpots, the size of progressive jackpots changes with each gambler’s perfect spin. As a rule, a part of each bet goes to the jackpot fund, which continues to increase until someone becomes a happy owner of it. After that, the jackpot size is reset and starts to grow again. Only a few people received such winnings, but the opportunity itself attracted a lot of people.
The first online casinos appeared in 1994. It was then that Microgaming developed the first online gambling platform. At the same time, the State of Antigua and Barbuda adopted the "Law on Free Trade and Information Processing", which prescribes a mechanism for issuing licenses to representatives of the gambling business. This bill has spurred the development of iGaming and iGambling on the Internet.
By the end of 1996, there were 15 online gambling sites. By the end of 1997, the industry had grown dramatically, and more than 200 online casinos, poker sites and bookmakers with annual revenue of $ 1 billion were available worldwide💰. One of the main reasons is the introduction of the "progressive jackpot" concept. Unlike fixed jackpots, the size of progressive jackpots changes with each gambler’s perfect spin. As a rule, a part of each bet goes to the jackpot fund, which continues to increase until someone becomes a happy owner of it. After that, the jackpot size is reset and starts to grow again. Only a few people received such winnings, but the opportunity itself attracted a lot of people.
The 2000s: an era of growth and diversity
During this time, new games appeared, as well as many online casinos and gaming software manufacturers. 🤳🏽Companies have started to develop mobile versions of their games.
In 2006, the United States passed the Law on Illegal Gambling on the Internet (UIGEA), which significantly limited the activities of online casinos and poker rooms in the country. Large operators such as PartyPoker and 888 immediately left the American market. PokerStars and Full Tilt Poker continued to operate in the American market, which subsequently led to their criminal prosecution and significant fines after the events known as "Black Friday" in 2011.
While the United States was tightening regulation, many European countries began to legalize and regulate online gambling✍🏼. The UK, Spain, Italy and France have developed their own regulatory laws, which has led to the creation of licensed markets.
2010s: Consolidation and innovation
In the 2010s, active regulation of the industry continued in Europe. The UK has become one of the leading markets with a clear legislative framework and strict requirements for operators. The process of legalizing online gambling at the state level has begun in the United States.
The introduction of live casinos where players can interact with real dealers🧔 and other players through real-time streaming has created a more authentic experience and added a social component to the game.
The advent of blockchain technology did not change the market much, but gradually more and more online casinos and betting shops began to work with crypto. And, as you and I know, there is even a request for a crypto casino now, although there are still many players who are not used to cryptocurrency yet.
The share of mobile casinos in the total volume of online casinos has grown significantly📱: in 2012 it was about 3%, but by 2015 it had reached 35%.
The 2020s: new horizons and challenges
🕶In our decade, online casinos continue to improve: to connect VR and AR technologies, to develop new games, ways to attract players and keep them from ludomania.
The history of iGaming and iGambling is a story of innovation, legislative changes and social transformations that have led to the creation of a modern, high—tech and global online gambling industry.
During this time, new games appeared, as well as many online casinos and gaming software manufacturers. 🤳🏽Companies have started to develop mobile versions of their games.
In 2006, the United States passed the Law on Illegal Gambling on the Internet (UIGEA), which significantly limited the activities of online casinos and poker rooms in the country. Large operators such as PartyPoker and 888 immediately left the American market. PokerStars and Full Tilt Poker continued to operate in the American market, which subsequently led to their criminal prosecution and significant fines after the events known as "Black Friday" in 2011.
While the United States was tightening regulation, many European countries began to legalize and regulate online gambling✍🏼. The UK, Spain, Italy and France have developed their own regulatory laws, which has led to the creation of licensed markets.
2010s: Consolidation and innovation
In the 2010s, active regulation of the industry continued in Europe. The UK has become one of the leading markets with a clear legislative framework and strict requirements for operators. The process of legalizing online gambling at the state level has begun in the United States.
The introduction of live casinos where players can interact with real dealers🧔 and other players through real-time streaming has created a more authentic experience and added a social component to the game.
The advent of blockchain technology did not change the market much, but gradually more and more online casinos and betting shops began to work with crypto. And, as you and I know, there is even a request for a crypto casino now, although there are still many players who are not used to cryptocurrency yet.
The share of mobile casinos in the total volume of online casinos has grown significantly📱: in 2012 it was about 3%, but by 2015 it had reached 35%.
The 2020s: new horizons and challenges
🕶In our decade, online casinos continue to improve: to connect VR and AR technologies, to develop new games, ways to attract players and keep them from ludomania.
The history of iGaming and iGambling is a story of innovation, legislative changes and social transformations that have led to the creation of a modern, high—tech and global online gambling industry.