Online gambling came into existence in the year 1994. The first online casino was started in the Carribean nation of Antigua and Barbuda. Since operators in this country could legally apply for licenses, online gambling made quite a show. Little was it known at that time that the online gambling industry would swell into a multi-billion industry.
Today, online gambling is a favorite pastime of many. Since these websites provide bonuses like the fun88 special bonus as well as incentives, people easily get hooked.
1994 was also the time when Microgaming developed their first gambling software. Cryptologic then followed up by developing encrypted communication protocols. This secured the financial transactions making money transfer for gamblers more secure.
The following year, Intercasino offered 18 games on an online casino and access to the National Indian Lottery for the first time. This worked as another incentive for the online gambling industry. As the number of casinos increased, there also arose the need for a regulating body. So, in 1996 Kahnawake Gaming Commission was formed to regulate online casinos and license them.
In 1998, Microgaming launched their first progressive slot jackpot called Cash Splash. This encouraged more people to pool their money in the online gambling world. Additionally, the introduction of Planetpoker’s first internet poker room was another landmark. By the end of this year, around 700 real-money online casinos were operational over the internet.
With the beginning of the new millennium, online casinos were generating close to $ 2.2 billion. This year also marked the introduction of gambling on a global level. In 2005 online gambling reached its peak whereafter it took a severe blow with the passage of UIGEA which prohibited banks from processing transactions for gambling website in America.
The blow was restricted to the US though and the remaining industry continued to grow. Currently, over 865 online casinos are under operation with lots of sign up incentives and bonuses like the fun88 special bonus. Another exciting event that took place in 2010 was that PartyGaming merged with Bwin forming worlds largest publicly traded gambling company.
Next came the Mobile gambling boom in 2013 with Juniper Research revealing a total of $10 billion staked worldwide through mobile phones. Subsequently, social gambling also boomed boasting revenues of about 1.6 billion dollars.
Online gambling came a long way since it started. Right now, there are about 85 countries where online gambling is legal. This amounts to a contribution of $35 billion in the industry.