If you’ve never gambled online before, you’re missing out. With so many great websites available, including the popular online casino netbet, players are spoiled for choice like they never have been before and can play from the comfort of their own home.
With no need for players to get dressed up and go out to the casino, it’s no wonder why the online gambling industry is continuing to grow in leaps and bounds and is one of the few industries that continues to make a profit, even through the global financial crisis.
Of course it wasn’t always this way, and while online gambling has grown in fits and starts, it’s also an industry which has dealt with many regulations, laws, and licenses along the way. The first places where operators could apply for licences for online casinos was Antigua and Barbuda, quickly followed by a few territories in the UK and then the United States.
The gaming software was initially slow and clunky, so Microgaming developed better software to allow players to focus on their games. The other main problem was the threat to their bank accounts, so Cyptologic developed encryption methods that ensured players could remain secure while online.
We all know that the internet has changed many industries, and businesses were forced to evolve and change with the times or be left behind. The casino industry was one of the first to truly embrace this technology, and offered players the chance to bet and win money while many people were first learning about MySpace.
The first ever money wager was in 1996, and it was soon decided that regulation was needed for this industry, leading to the formation of the Kahnawake Gaming Commission. This meant that online casinos had to be licensed and follow certain rules.
Soon there were more online casinos than anyone expected, with a huge 700 available by 1998. And it’s easy to see why, with the first online slot jackpot and internet poker room released- proving that online casinos were here to stay.
The United States were contributing most to the annual profits of the industry ($2.2 billion per annum by 2002), but this was soon to be nipped in the bud with the passing of the Unlawful Internet Gambling Enforcement Act. The act basically made online gambling impossible in the United States since it was illegal for credit card companies and banks to process transactions made by online casinos.
In 2011, the US government found that a number of online casinos had violated the UIGEA, however the industry had largely moved to better industries abroad. In Europe citizens have the right to gamble online, and online casinos are also legal in the UK, Australia and New Zealand, to name just a few.
With the focus on tablets and smartphones, online casinos have been ensuring that they are mobile friendly, since more and more players are using these devices while online. There’s also a focus on less traditional games that require skill, so we can expect the industry to continue to grow in the future.