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The history of online gambling can be broken down into several transformational periods. Let’s discuss each one in more detail.
– 1994: Emergence of iGaming. This marks the birth of online gambling, with the creation of the first-ever online gambling website. It provided the initial online gambling experience to the public, allowing online public ticketing for the International Lottery in Liechtenstein and laying the foundation for iGaming in its modern sense.
In the same year, the Caribbean nation of Antigua and Barbuda enacted the Free Trade & Processing Zone Act, enabling online gambling companies to seek licenses.
– 1996: Start of online gambling regulatory practices. The Canadian Kahnawake Gaming Commission was established in 1996, aiming to regulate online gambling activities and issue licenses to online gambling businesses. This initiative ushered in an era of increased transparency and security, safeguarding client funds and data.
– 2000s: Advancements in the online gambling industry. The late 1990s to the early 2000s witnessed significant growth in the industry, fueled by the Internet’s proliferation, urbanization, and technological advancements like the widespread availability of PCs and home consoles. This period also introduced the innovative feature of multi-player gaming.
In 2003, the 888.com site was launched, becoming the first online casino website licensed in the US and a standout example of an online gambling business.
Between 2003 and 2006, the iGaming player base doubled every year, marking a golden period of online gambling growth.
– 2010s: Establishment of iGaming as an independent market. The advent of smartphones and tablets facilitated the rise of mobile iGaming and on-the-go gaming. In the 2010s, numerous businesses entered the iGaming sector, either offering gambling services or providing B2B services.
Simultaneously, the growth of iGaming drew legislative attention, leading to efforts to regulate and control the industry. In 2018, the US Supreme Court released the PASPA (Professional and Amateur Sports Protection Act), regulating sports betting activities in the US and paving the way for the rapid growth of legal gambling.
– 2020s: Industry’s steady growth. The current state of online gambling sees varying popularity from country to country due to regulatory differences and economic conditions.
Online gambling is legal in many developed countries, including the United Kingdom, the United States, Australia, Canada, Sweden, Denmark, Belgium, Netherlands, Italy, France, Spain, Switzerland, and others. Some US states only recently introduced online sports betting activities in 2018, while in others, such activities remain prohibited.
Contrastingly, regions like the UK, where online betting activities have been legal since the early 1960s, have well-established laws regulating modern sports betting since 2005.
In conclusion, iGaming continues to flourish, offering abundant opportunities for both businesses and clients. Today, it operates in a more regulated and protected environment compared to a decade ago.
The security of client data, financial transactions, and business operations is ensured through laws, technological implementations like blockchain, and regulatory frameworks. Thanks to these advancements, online gambling has emerged as a major competitor to offline gambling.
In the dynamic landscape of iGaming, providers like Bgaming, United Game, Yggdrasil Gaming, and Evolution Game play pivotal roles in shaping and enhancing the industry’s offerings, ensuring a rich and engaging experience for players worldwide.