The first online casino launched in 1996 and remains in operation today. There are a number of casinos that were began to open in the first years of gambling online Internet (and hundreds of casinos since) and have become one of the biggest and most profitable online businesses to date. But , there was not always easy or easy for the casino industry online as you’ll be able to see.
Prior to when InterCasino began their online casino in 1996 there was plenty of opposition. Legislators and anti-gambling groups came together to take pot shots at the imminent casino online openings. However, once the Antigua High Commission Barbuda within the SA Gaming West Indies passed the “Free Trade and Processing Zone Act” all the pieces were put in place to create the history of casinos online. They established with the Division of Gaming to give the first official jurisdictional licenses , so that operators who were interested could legally operate their casinos online. Since the US and other major countries have refused to grant these licenses, it is the largest aspect of the history of online casinos.
Since then, a number of different jurisdictions have been able to issue licenses throughout the world which includes Canada as well as the UK and many more. However, none of these countries are part from the United States, which still is adamantly refusing to issue licenses.
The first casinos that were online were received with lots of suspicion, as the sending of details like credit card numbers, addresses and names over the internet was still viewed with suspicion. Casinos online were believed to be scams or run by mob. In the past, slow connections led to stalled software and graphics , and a dearth of reputable software companies in the new business led to a number of slow-moving platforms.
Enter CryptoLogic along with Microgaming Two online casinos pioneers in history. CryptoLogic was the first to go through the trouble to offer encryption technology to online casinos, which meant sensitive information such as credit card numbers were secure from hackers. Microgaming was among the first and remains one of the top software companies, offering clear graphics and authentic sound in the days when these items were not readily available through on the internet. Modems for cable as well as DSL connections made it easier and more convenient to begin downloading software, and with lower lag and less connection issues.
All they had to do was earn trust, and this began in the year 1999. That was the year that Microgaming, in an effort to show the honesty of most online casinos, struck an agreement with PriceWaterhouseCoopers, one of the most famous and honest accounting firms in the world. PWC was able to start an audit of casino’s payout percentages to show that they indeed paid huge amounts of money- often, even more that Las Vegas casinos.
Due to all these changes and developments, the new millennium began with the Golden Age for online casinos. First IPO for stock of online casinos was made available, and more jurisdictions came online , and The first ever Progressive Jackpot was awarded millions to lucky players. The business was flourishing.
After a while, Poker started to dominate the airwaves and Poker Rooms that were often associated to online casino sites, were popular. Due to the explosion of internet-based Poker Room technology, the online casinos made billions of dollars in the year 2004, and profits predicted to double and even quadruple in 2010.