Online casinos have become one of the infinite gambling industries, which have spread its root on a global level in a remarkable manner. The history of their emergence as leading industries is, in fact, not of many centuries or decades back. Rather, they are amongst one of the recently emerged and popular online gaming and gambling industries.
In fact the first online casino came into being in 1994 in the Caribbean nation of Antigua and Barbuda as it passed the Free Trade and Processing act. This act gave freedom to the applicants to the license for opening online casinos. Actually, before the introduction of online casinos, fully functional gaming software was already developed by Microgaming (an Isle of Man based Software Company). This software was secured by the software of Cryptologic, a security software company.
Here are some facts that will prove the rapid increase and growth of online casinos:
The online gambling gained popularity in the late 1990s. From just 15 online websites in 1996 the number increased vigorously to 200 in 1997.
By the end of the 20th century the number increased ceaselessly and it is evident from the fact that almost 8 million players had participated in online gambling till 2001.
According to UK Gambling Commission, the gambling industry achieved a turnover of pound 84 billion in 2007.
H2 Gambling Capital estimates worldwide online gambling revenue at $21 billion, in 2008.
The development of casinos increased at rapid speed offering revenue which was estimated to reach $17 billion by the end of the year 2009.
Online casinos or virtual casinos or internet casinos enable a gambler to play and wage casino games through the internet. They also offer odds and payouts which are comparable to land casinos. Some of them claim higher payout percentages for slot games, table games, etc, to attract more gamblers on their websites.
There were three major reasons for the emergence of online casinos, according to the sources. They were:-
1. As the gaming software had already been developed, casinos felt the need to make their reach on a global platform with the introduction of online casino games.
2. Accessibility of the connection of different computers to nodal server with the advancement in technology called internet.
3. Creation of a firm body or authority which would be regulating the whole aspects of this gambling industry, by the year 1994.
The access to internet and broadband has inculcated the comfort of playing online casino games and thereby winning huge rewards by betting cash without any extra risks involved in it. Players sitting at one place can play different games like 3D slot games, poker, etc, with any player sitting somewhere else. They can chat, view game statistics and can do anything related to casino sitting in their home and also playing their games.
It is such a fantastic thing to have that it has been developed as a profession rather being the old and traditional part of hobbies. Thus it also is giving employment opportunities to different fields and thereby contributing in the overall development of the peoples of all class and standards.