The very first online casino opened up in 1996 and is still around today. In fact, there are several casinos that opened up the first few years that playing has been on the internet (and hundreds since), making it one of the most successful online industries ever. But it was not always success and easy roads for the online casino industry, as you will soon see bet online.
Even before InterCasino opened their virtual doors in 1996, there was a ton of opposition. Lawmakers and anti-gambling groups set up to take their pot shot at the upcoming online casino openings. But once the High Commission of Antigua and Barbuda in the Western side Indies passed the “Free Trade and Processing Zone Act”, the pieces were in place to make online casino history. They started the Division of Gaming to give out the first official jurisdictional the necessary licenses so that potential operators could now legally open up their online casinos. Since the US and other big countries repudiated to give out these the necessary licenses, this is a huge part of online casino history.
Luckily subsequently, many jurisdictions have started giving the necessary licenses all over the world, including The us, great britain and more. But that list stops short of the united states, which still steadfastly will not issue the necessary licenses.
The first online casinos were met with a lot of skepticism, as sending information like credit cards, names and addresses over the internet was still met with a lot of suspicion. Online casinos were viewed as sketchy or run by the mob. Slow connections meant stalled programs and graphics and a lack of quality software providers in the new industry meant a lot of stalled platforms.
Enter CryptoLogic and Microgaming, two online casino history pioneers. CryptoLogic decided of their way to provide encryption technology to the online casinos, which means that sensitive information like credit card numbers were now safe from cyber-terrorist. Microgaming was one of the first and still one of the best software providers, making crisp graphics and realistic sound back when these things were still tricky to find online. Cable modems and DSL lines made it faster and more convenient to start downloading software, with less lag and connection problems.
All that was left to do was to earn trust, which started happening in 1999. That was the year that Microgaming, so that you can show the credibility on most online casinos, minted an agreement with PriceWaterhouseCoopers, one of the most famous and honest accounting firms in the world. PWC agreed to start auditing the online casinos’ payout rates, to prove that they did indeed payout large amounts of money- in many cases, more than Nevada casinos.
Because of all of these developments, the new millennium started the Golden Age for online casinos. The first IPO for online casino stock became available, more jurisdictions came online and the first Progressive Jackpots honored millions to lucky customers. Business was growing.
Right after, Poker begun to dominate the airwaves, and Poker Rooms, many affiliated with online casinos, became very popular. With the thrive in on line poker Room technology, the online casino industry took in enormous amounts in 2004, with profits expected to double and perhaps even quadruple by 2010.
Unfortunately, there will continue to be much more to write about online casino history later. This is because the continues to have opposition in many camps, which shows no sign of stopping. People like Senator Jon Kyl of Arizona introduce bill after bill trying to power down online casinos, make it illegal for us citizens to play at them, or at least ban US credit cards from being used to invest in online casino playing.
Though none of these measures has ever passed, they continue to be introduced. With the spike in popularity lately, though, it does not seem like they will make much headway. Hopefully, this means that the next chapter of online casino history has more bright spots than legal ones.