A study on the popularity and growth of online gambling reveals how its success has spread over the years. From its advent in 1994 to its booming success now in 2017 and beyond to what we may expect to see in the future, online gambling is definitely here to stay.
Licenses are first released in 1994 to the Caribbean nation of Antigua and Barbuda where operators apply for them, with the first gaming software being developed by Microgaming in that same year. 1995 saw the release of encrypted communication protocols by Cryptologic, put in place to ensure safe and secure financial transactions. Intercasino houses the first ever online financial bet in 1996. The online casino offers a total of 18 games and an ‘in’ to the National Indian Lottery. Later in 1996 a gaming commission seeks to license and regulate online casinos in the form of the Kahnawake Gaming Commission. 1998 sees the prolific rise of the worlds’ first internet poker room by Planetpoker as well as Microgaming launching the first ever slot jackpot, Cash Splash. The year ends off well for online gambling as there are over 700 real-money casinos by the end of the year.
Fast forward ahead to 2000 and we see bets in the US contributing two-thirds of the total revenue for online gambling, thus cementing its popularity within the states. By the end of the year we see casinos raking in over 2.2 billion dollars. The success of the US garners notice globally as 2001 sees UK territories in the Isle of Man, Alderney and Gibraltar now too offering licenses, ensuring the total rising to 8 million players online. 2005, sees the peak of online gambling with partygaming, playtech and 888.com registering as initial public offerings (ipos), as well as new gambling legislations within the UK’s Gambling Act making it the most liberal in Europe.
Online gaming success receives massive blows in the period of 2006 – 2011. The first hit come in the form of the Unlawful Internet Gambling Enforcement Act (UIGEA) being passed – outlining that it is illegal for banks and credit card companies to process financial transactions for internet gambling sites. The Act strikes deep in the heart of US gambling success and sees many international operators retreating from the US market. By 2010 the success of gaming is marked by a total of over 865 live online casinos worldwide and sees Partygaming align with BWIN to form the world’s largest publicly traded gambling company. April 2011’s ‘Black Friday’ has the US government shutting down PokerStars, Full Tilt Poker and Cereus for violating UIGEA regulations to once again strike a hefty blow to US online gambling.
2011 to 2017 saw a boom in online gambling as progress in technology allows for the phenomenon to spread to various platforms. A record win of 11.7 million Euros enables new confidence to players and in 2013 Juniper Research totals the worldwide mobile wagers placed to 10 billion dollars as gambling becomes more easily accessible on handheld mobile devices. ‘Social Gambling’ is now such a success in 2017 that casino games add up to one fifth of the 8 billion dollar industry. The success of online gambling is at a peak as of now, 2014, as stats reveal that it has been spread and legalized in over 85 countries contributing to a 335 billion dollar industry. With this spread of wide reaching availability and platforms, it makes it impossible to deny the storming success and strength of online gambling and uniquely rewarding business enterprise that started from merely just a few games for recreational purposes.
Take your chance to be part of the growing phenomenon and play one of the most enjoy and reward yielding forms of online gambling – the online lottery. Lotteries (or lotto’s), are increasingly popular because of the large sums of cash as reward to winners. Games are also well regulated and bonuses are carried over weekly to keep the jackpots climbing ensuring the international appeal of lotto’s. Sites like us, CasinoDiscussion, offer the excitement of online gambling right from the comforts and conveniences of your armchair or sofa. Join and try your luck on the growing phenomenon now.Share on: