The internet is without a doubt one of the most important inventions in the history of mankind. The internet has undeniably transformed the lives of so many people by providing rapid access to data, leisure, and income-generating opportunities for anybody with access to a mobile device or computer.
The online gambling industry is one aspect of society that has reaped significant benefits from internet technology. In fact, if there is one business that has been at the frontline of virtual technological advancements, it is the online gambling industry. Despite its tumultuous past, the online betting sector has managed to prosper over the previous decade, and it is likely to do so again in 2022 and the years to come.
The beginning of online casinos
When internet technology became popular in the mid-1990s, people became familiar with online betting. The new concept piqued the interest of the gambling world right away.
However, no one was thrilled about paying taxes. As a result, gaming websites began operating legally in the Caribbean state of Antigua & Barbuda. Because of the Free Trade and Processing Zone Act, this tropical country became the birthplace of contemporary internet gambling. It is that bit of legislation that permanently altered the gambling environment.
Unlike the rest of the Caribbean states at the time, Antigua and Barbuda was eager to award gambling licenses. Other nations and governments, on the other hand, could not resist what appeared to be a rich venture. At least not for long. The establishment of Quebec’s Kahnawake Gaming Commission followed the Caribbean legislation. Over time, more jurisdictions have joined the ranks.
The spontaneous development of the world of online gambling
There were at least a dozen gambling sites to browse in the mid-1990s, and new ones sprung up like mushrooms during this period. Prior to 1998, there were over 200 poker rooms, internet casinos, and sports gambling sites to choose from. In the section below, we will look at the individual growth of various sectors of the online gambling industry.
- Online casinos
Following the formation of the Kahnawake Gaming Commission in 1996, another significant milestone in the history of internet gambling occurred. The commission was formed to issue gaming licenses and a Mohawk Indian tribe in Canada owns and controls it.
The Kahnawake Gaming Commission was established at the same time as the first online gambling platforms. However who was first is a point of contention. The history of online gambling is plagued with inconsistencies, and although some sources claim that InterCasino was the first online platform, others claim that Microgaming was the first. Microgaming’s GamingClub, which opened in late 1995, beat them to the punch.
The internet gaming business exploded after this initial launch. There were around 15 online gambling platforms in existence by the end of 1996. Furthermore, by the end of 1997, the business had grown, with over 200 internet casinos, sportsbook and poker sites, operating all around the world, generating annual sales of more than $1 billion.
- The rise of poker games
Poker rooms have a wide variety of tables and were frequently used as a training ground for aspiring poker stars. Another development was the influx of well-known poker players into the online world. That was a battle of platforms, with some able to accommodate more gamers and others destined for annihilation if they did not match up.
Poker Stars and Party Poker were the most well-known poker rooms at the time. However, Poker Stars swiftly came to popularity as a result of the satellites, which gave everyone a chance to win big. Today, reputable gambling platforms like Zodiac Casino, are leading the way when it comes to offering a variety of poker tables to players. In addition, players can also enjoy playing poker on the go by using the Yukon Gold Casino app.
- Sports betting
At the close of the 1990s, prominent bookmakers with well-known names arrived, including William Hill. A few years later, Betfair changed the business by proposing a new P2P betting structure.
Even though internet gambling has been around for more than two decades, the status of online gambling in Canada is still uncertain. However, internet gambling will continue to be popular since it allows you to receive that distinct gambling sensation without having to leave your house.