It is simply human nature to take risks and see how far they go, to see just how much they can win in the gamble, be it winning their lives or money. It is a known fact that ancient civilizations have been making wagers on games, sports, and cards for thousands of years. Remember the gladiators of ancient Rome? People bet on them. Natural progression brought us dice, marbles, betting on animals, and eventually the nice, neat, plastic coated playing cards we’ve come to know and love. In additions to them, roulette tables, blackjack, poker, sports bets and pretty much any other wager that could be made appearedin time.
Gambling is usually done in one place where people could witness the outcome of the event. Casinos started out as rooms in gentlemen’s clubs that were exclusive for, well, the men. Eventually gambling, especially poker, made its way into everyday society and became the bread and butter of the old west. Brick and mortar casinos became very popular and still today, Las Vegas is one of the most popular vacation cities for people who enjoy the night life, bright lights, and the bells and whistles of the slot machines.
As technology has advance through the years, and the Internet invaded everyone’s homes and businesses, the face of gambling started to change. The first functional online casino and gaming software was developed and introduced in 1994. It was followed by CryptoLogic and Inter Casino, and Antigua and Barbuda became the first place in which online gambling was legalized. The launch of the first online casino room caused a big stir and gambling online in the United States in particular had changed forever. Now it was no longer necessary to travel to get your kicks in. Online Gambling has now been banned entirely and Casino players find it increasingly difficult to be able to do certain things if they gamble online, such as withdraw their cash winnings.
The success of the first online casino should have been a sign as to how the industry would catch like wildfire and burn out of control. 18 games were offered at that first online casino and in 1997, online casino gaming revenues were one billion dollars, six hundred million of it from the United States. It has tripled ever since, but the original predicted figure of twenty-five billion dollars by 2010 has been severely reduced thanks to the laws in the United States regarding online casinos.Under the Bush administration a draconian Federal Bill was passed on the back of a the Port Security bill. The name of the Internet Gambling provision attached to the main bill is UIGEA – that is short for Unlawful Internet Gambling Enforcement Act of 2006. Although this act did not make online casinos illegal it did choke the lifeblood of the industry by banning banks from making transactions with online casino operators.The fight against UIGEA still continues to this day and various countries have lodged disputes with the World Trade Orginization re this odiuos piece of legislation.
eCOGRA (eCommerce and online gaming regulation and assurance) was organized in 2003 and their function is to make sure online casino and poker rooms are operating legally and fairly. They have helped all the online rooms settle under the umbrella of a standardized set of rules. In 2003, online poker was added beneath eCOGRA’s rules umbrella and the World Series of Poker became a household name after Chris Moneymaker, a young man who won a seat at the tournament by solely playing online poker.
Three years later, the United States Congress made it illegal for any online casino player to deposit or receive money pertaining to online gambling from credit card companies and banks. The online gaming industry was set to reeling for a bit, but it has bounced back, bigger and better before. This is a short brief history of an industry that really started to blossom and bring entertainment to millions of people worldwide. In recent times legislation and regulation in the European casino markets has paved the way for online gambling to become a lot more regulated and taxed.
History of Online Casinos was written by Greg.