Industry Growth Watch – Online Casino

Since 1994, Microgaming, the first casino software provider, offers online casinos and is located outside the Caribbean. In the Caribbean, a law on free trade in gambling was passed, which allowed it to become the main place for online gambling sites. The Caribbean remains the centerpiece of online betting sites.

The following year, CryptoLogic developed software that allowed you to make and receive payments over the Internet, which then allowed you to play through a worldwide network. Together, Microgaming and CryptoLogic created the first online casino: Inter Casino. Since then, Inter Casino has paid at least $ 3 billion.

Progressive boat entrance

In 1998, a progressive jackpot was launched, in which it accumulates until someone finally wins everything thanks to Microgaming in the form of slots. Also in 1998, Arizona Senator John Keel introduced the Online Gambling Ban Act, which tried to ban online gambling in the United States, and the bill failed. At that time, the industry raised $ 834.5 million per year. 1999 was marked by the launch of multiplayer games in 카지노먹튀, which led to even greater growth. In 2000, Crytologic entered the NASDAQ list.

Casino

Break records

2001 – The progressive jackpot won to date has been awarded to The Sands of the Caribbean online casino.

2002: the biggest jackpot to date reaches $ 1 million, after which he earns $ 1.5 million at another online casino.

2002 – The industry grows to cost $ 4.5 billion.

2003 – Chris Moneymaker leaves the world of online poker in the world of traditional poker and earns $ 2.5 million, winning the World Series of Poker.

2005: a new record progressive jackpot was reached for a total of $ 2 million. The industry currently costs $ 12 billion annually.

Governing body

In 2003, the eCOGRA group was formed as a regulatory authority for online casinos in order to protect the users of these websites. Since then he has been respected as an authority. Live games were also developed in 2003.

In 2004, the WTO (World Trade Organization) decided that gambling should not be banned for US citizens, especially since residents of the United States account for 51% of all income from online casinos in the United States. Caribbean. This year’s revenue was up to $ 8.5 billion for the industry.

So what’s next for online casinos?

With the election of President Barack Obama, there is hope that online casinos will be legal again for US residents. Most sites do not even allow players to play their games, while banks and credit card companies have imposed restrictions on their cards, which limit deposits or withdrawals from online gambling sites. I hope that with the new president, Americans will have new opportunities to enjoy the game on the Internet again.