Blog Posted on 11/09/2014 | Author: Karen Macarthur
History of Online Internet Gambling
The beginning of the Online Internet Gambling started in 1994. Antigua and Barbuda was the first country to legalize gambling in its jurisdiction. Paving the way for online gambling, it opened up the world, bringing players from all over the world together. Even today, online casinos obtain their licenses to operate from this jurisdiction.
The casino software game development and services company, Microgaming was founded in 1994. A landmark beginning that proved fruitful as it went on to become the leading company in Casino gaming.
The first casino software was developed by Cryptologic, an online Securities firm. The start of the first online casino, the InterCasino in 1995 revolutionized the way people perceived gambling. Started first with 18 unique games, all the Online Gambling sites now host more than 250 types of games in different categories.
Phases in Online Internet Gambling
Historically the timeline of Online Internet Gambling shows 4 distinct phases. The first phase had poor quality games, which were hard to access and download. The second phase was the No Download platform. Even though it was better, there was much to be done in terms of speed, access and game quality.
The third phase was the Downloadable version. This allowed the players to enjoy their games at their convenience. With the emergence of the mobile casino apps, the games can be played from the comfort of their homes.
The next phase is the Cloud based gambling houses which allowed them to play even when they are offline. Giving the gamblers instant updates, better online help support for the games.
Reasons for growth of Online Internet Gambling
The prominent and compelling reason is the phenomenal growth of the Internet. Every individual can now access to it from either their PC’s, desktops, tablets or even their mobile devices. All the casinos have now improved their gaming experience using rapid technological advancements. Be it their game development, player motivation through bonuses, promotions, or else providing fair, safe and secure environment for the players.
The increasing clamour for the regularization of the Online Internet Gambling led in 2003 for the eCommerce and Online Gambling Regulation and Assurance (eCOGRA) an independent auditing firm. This is an official recognition for the online gambling houses demonstration of fair gameplay. Players will play in reputed online sites only which are certified.
Forms of Online Gambling
All the games which can be played in the real life settings can be played online. Using advanced game technologies, and software development, the games such as Poker, Casino Games, Lotteries are available online. Some of the sites include the Sports Betting, Bingo, Horse Betting and even Mobile Gambling.
Each of these Online Gambling sites follows its own terms and conditions regarding the gameplay, bonuses, promotions etc. They even offer better betting odds than the traditional gambling houses. This is due to the lower overhead of running an online business. Always refer to the game rules before sitting down for playing any online game.
Funds transfer
Online Internet Gambling is the Mecca for all things legal and illegal financial transactions. Sophisticated security systems which are in place have made it comparatively safe for the Gambling sites to operate. Some of the financial institutions are not averse to fund the gambling activities. Precautions are in place to recover/protect their money from the any unusual activities.
The gamblers can transfer funds to their online gambling account through common channels such as wire transfers, cheques. Credit/Debit cards, vouchers, E-wallets are the other ways to fund your account.
Legality
The 1994 landmark decision by Antigua and Barbuda to provide gambling licenses made it easier for the Online Internet Gambling to flourish. Gambling Houses had now a foothold to operate in countries where gambling is legal. While it’s legal in UK to gamble, France, US, Canada, Russia and other countries have limited/restricted access which bars players from specific countries to play Online Internet Gambling.
Demographics
The fastest emerging market is the global gambling industry. Estimated at more than 300 million Euros, this is the most volatile market. Changing with economic conditions, it will continue to grow at a consistent rate for long.
The hot spot markets are the Asia/Mid East regions followed by the European regions. Ongoing research has pegged the average age of the online Internet gambler at around 25’s to 45’s with elderly also in the race.
The emergence of the Online Internet Gambling has brought with it a host of problems including physical, psychological, physiological and emotional. The players can become compulsive gamblers leading to problems in their personal, professional life. Responsible gambling is an ongoing activity taken up by all the Online Internet Gambling sites.
The growth of Online Internet Gambling is evolving continuously. It will proceed as long as humans gamble. Less than a quarter century has passed for it to emerge as one of the leading industry providing employment, stability and financial returns. With proper legislations, it can prove to be the most exciting market to invest your time and money on.
