If you are an internet person, you have probably played or come across an advert related to online casino. On the verge of crossing to the millennium, this industry had a burst and that was the beginning of the long and successful journey it has been undergoing. So how did this casino industry begin? Let’s have a glimpse at that.
The Onset of the Casino Industry
Although online casino was the first form of gambling to be born, poker overtook it and brought enormous impact in the gambling industry. Planet Poker is one of the earliest poker websites that started it all way back in 1998. It enjoyed monopoly just for a while not long before Paradise Poker landed into the market in 1999 to claim its own share.
When the century turned and we welcomed the millennium age, things changed over sudden. The online gambling sites became very popular and more in number. They also advanced in the services they were offering and now included casino games, bingo, and sports betting among others. Although many countries have embraced online casinos, there are different rules about licensing – particularly in Finland where online casino is called netticasinot.
We are now almost 2 decades in the millennium and the changes and advancements are very much tangible. But how is the industry regulated?
Laws and Conditions Governing Casino
Although various legal restrictions have been set to delude, eliminate or restrict online casino and the entire gambling industry, this seems to be a wildfire that cannot be stopped. It has now become a global phenomenon and the only thing authorities can do is to cooperate and set reasonable laws like age restriction.
Globally, there is a common age restriction where no minor who is below 18 years is allowed to play casino or place any bet. Previously, no minor would be allowed into the casino desks and shops but nowadays it is somehow different. How? The betting sites are right in their smartphones; they can access them at the touch of a button.
Nevertheless, the authorities have played their part by ensuring that every gambling site is registered. Now it is the time that the betting sites ensure they play their role effectively to ensure they strictly comply with the ACT and the laws set by the betting authorities. The previous Act in the US for betting was the Federal Wire Act before they adopted UIGEA in 2006.
Having known that online casino is a registered industry, what are some of its advancements in the past 20 years? Let’s sail into that.
Evolution and Changes in the Online Casinos within the 2 Decades
From the huge support the industry is getting from media, it is not coming to an end any time soon. On the contrary, it is soaring higher with the dawn of each day. Behind every move, there are anchors propelling the vessel. Similarly, in the online casino, there are changes and developments that have enabled its unstoppable rise. Here they are:
Payments
In the beginning, a player could only use currency to pay. Besides, when loading the money into the casino, they had to pass through several companies to process their credit card requests. The likes of Western Union acted as the 3rd parties to facilitate. However, things have been made easier.
A player can easily load or withdraw the money using E-wallets like Skrill, PayPal, Neteller, Mpesa, and Paysafecard. Additionally, you can use cryptocurrency like bitcoin to enjoy your online casinos.
Technology
This is another anchor that has seen advancements. Now players can easily place their bets either using a mobile app or live using their mobile phones. This has become the most popular. Technology has also advanced in the area of gambling software where many have emerged like Playtech, Betsoft, NetEnt, and Microgaming among others.
Technology is also seen in their products and services where we now have 3D products, live dealer games, live betting, and video slots. The casinos are heading to the dimension of Virtual Reality where you have a 360-degree view of what’s happening around you.
Sites
Now players have choices to make in the sites and the selections within the site unlike 20 years ago where they were limited in choices. We have themed games and well-designed slot games.
Bonuses and free spins
These have become the order of the day in almost every gambling site, where every new customer is awarded a bonus or free spins as a welcome note. Besides we have cashback bonuses, loyalty bonuses, no-deposit bonus, and even referral bonuses. Others have vacation giveaways, jackpots, free tournaments, win promotions, and free bets among others.
Licensing
At the onset, consumer protection was not much in place. As a matter of fact, players acted on trust and faith. Nevertheless, when the industry expanded, trust issues came in and a governing body was formed. Since then, laws and regulations have been put into place to ensure the players are safe.
Conclusion
As you can see, there has been a lot of advancement in online gambling including changes in predictions. These have also led to the growth of revenue. No matter the presently visible growth, it is just the beginning; the real development and revolution are yet to hit the industry.