January 14, 2021 | 746 Views
In this blog, we talk about, when online gambling began and what data relating to the past of online gambling we should remember.
Online gambling description comes in simple terms. Internet gambling or online gambling is any gambling happening online, i.e., on the Internet. Most businesses open for online gambling require a license to provide gambling services or advertise to inhabitants of that market.
Online gambling is growing in popularity almost daily, with players around the world enjoying it. Liechtenstein International Lottery was the first venue opened to the common public in October 1994.
In current terms, the Free Trade & Processing Act is the first-ever online casino license. Barbuda and Antigua were the first to grant a license to online casinos to run from their territory, made possible by the Free Trade & Processing Act. A lot has changed in terms of licensing, player expectations, and standard rules of play.
The history of gambling wouldn’t be where it is if it weren’t for the lottery. While many gambling events happened in 1994, one of the most important ones was opening the first online gambling venue open to the people- the Liechtenstein International Lottery in October 1994.
The first online casino in the world came into existence in 1994, making online casino history and changing its face completely. The Gaming Club was the first online casino in existence. This casino still exists and is operational, being one of the most reputable online casinos globally.
The source of real money for online casinos goes back to 1995 when CryptoLogic came into play and made actual money transactions attainable for online casinos. A company specializing in real money online transactions, CryptoLogic revolutionized the way online transactions work, making money processing quick and safe for the players.
The online gambling industry was already expanding in 1996, promising a lot of potential for development. Some jurisdictions recognized this potential as their chance to rise. The Kahnawake Gaming Commission originated in 1996, becoming a legal body to issue operating licenses to new online casinos.
It was formed with the idea of keeping the online gambling industry fair and regulated.
What would online gambling be without little sports added to it? In 1996, bookmakers and sports bettors were legally connected via the Internet for the first time by the Austrian-based Intertops sportsbook in the history of online gambling.
On January 17, 1996, Jukka Honkavaara visited Intertops.com to bet $50. Mr. Honkavaara made history with this bet as he was the first-ever person to place an online sports bet.
Online gambling in the US has faced strict regulations of both land-based and online gambling.
The Internet Gambling Prohibition Act of 1999 was a bill proposed in the US Senate to ban Internet gambling. The Senate passed this bill on November 19, 1999, but the House never gave it.
In terms of gaming novelties, a lot happened in 1999. One of the super important things for the iGaming industry was the introduction of multiplayer gaming, which allowed players to participate in various tournaments and compete against each other, which was a massive milestone for online casino history. The group chat option was also introduced, encouraging players to talk to each other during play, creating a lifelike gambling atmosphere.
Although huge jackpots are somewhat normalcy these days, back in the late 2000s, they were not. In 2002, the first-ever win of over $1 million struck an online casino jackpot, taking everyone by surprise! This majestic first-ever win of this magnitude happened at Captain Cooks Casino during a player’s progressive slot game.
The year 2003 is one of the most critical years for the online gambling industry as this was when eCOGRA was founded, to this day known as one of the most reputable independent testing agencies in the world. The eCOGRA is short for eCommerce and Online Gaming Regulation and Assurance.
When back in 2003, Playtech launched its live dealer platform, the online gambling community stood in awe. Now defunct, then specialist live platform developer CWC Gaming launched CasinoWebCam, directly streaming a live game from CWC’s dealer studio based in San Jose, Costa Rica. From that point on, the face of online gambling changed for good.
The iGaming industry seems to have kept progressing year by year. Another big thing happened for the online casino history and the iGaming industry in 2004 when the world’s first dedicated mobile casino software got developed and launched, to the excitement of all on-the-go players.
In the territory of the United States, the Unlawful the Internet Gambling Enforcement Act was passed, prohibiting “gambling businesses from knowingly accepting payments in connection with the participation of another person in a bet or wager that involves the use of the Internet and that is unlawful under any federal or state law.”
Vera&John stands as the first online casino that began taking crypto deposits from customers, automatically converting them to Euros. This Malta-registered site would make sure the converted payment was always paid into customers’ accounts on the site. Bitcoin deposits could only be withdrawn in Bitcoin.
Once again, although unsurprisingly, Microgaming brought a breakthrough into the world of online gambling. In 2016, the provider introduced Virtual Reality games via the Oculus Rift technology. This new technology enables players to access the casino games in VR and, in doing so, make the next step towards the future of online gambling.
Online gambling history is nothing but captivating, and we’re here for every aspect of it. Going back to the early 1990s and witnessing it develop in leaps and bounds over time, there is no doubt great things are yet to come.