INTERNET GAMBLING ? A GLIMPSE!The story of internet gambling is relatively new but one that has given a whole new meaning to gambling, and changed the way people look at it.
It all started in the year 1994 when licenses to open casinos on the internet were given by Antigua Barbuda. There was a slight delay in the implementation of this law due to lack of software, until the time, the now famous Microgaming was given birth. Soon after Cryptologic made a grand entry! Both of them have achieved great feats in the gambling arena, creating an unprecedented name for themselves by developing software good enough to nudge an online casino to open in the year 1996, two years after the passing of the law.
The growth started almost immediately, and the credit goes to the expansion of the internet technology during these years. With the advancement of technology, several casinos mushroomed, which saw an increase in software development.
It was Microgaming that came out with the first progressive jackpot. There was no looking back for the online gambling industry, and it started growing by leaps and bounds with each passing year, with the addition of 700 online casinos by the year 1999.
Microgaming started looking at security that gamblers looked for when dealing with online casinos and created secure payment procession systems.
The gambling industry, now worth $50 billion, is one of the few industries that continued to boom amidst the economic downturn, which speaks volumes about the attitude of people towards online gambling.