The birth of the internet gave human beings unprecedented access to a brave new world of knowledge, entertainment and a never been seen range of money making opportunities. The internet has dramatically changed the way in which 21st century humans live their lives.
One of the most common ways people are now enjoying themselves online is through online gambling. The numerous technological advancements that we have witnessed over the past 25 years have had an immensely beneficial effect on the world of online gambling.
As we head into 2022, it is expected that the gaming industry will continue to flourish and offer an ever-greater number of people a plethora of entertainment and excitement.
Online Gambling: The PastDespite the internet being first invented in 1983, the first online gambling websites did not go live until the mid 1990’s. Unsurprisingly, these sites were nothing like the flash and fun gambling sites which we can access today.
Back then, gambling sites were nowhere near as regulated as they are nowadays and it is not surprising that the first online casinos were not able to survive (the oldest in operation today are from 1996/97).
However, by the end of the 1990s, there were hundreds of online gambling sites available online with the overall market value of the industry set at around $830 million. As the world stepped into the 21st century, the industry began to take shape as several pioneers sought to sculpt the landscape into a much more professional one. What followed was regulatory bodies surrounding online gambling in order to make the space as safe as possible for buxom eyes casino players.
However, in 2006, the US government made financial transactions at online casinos illegal, thus US citizens were essentially banned from gambling online for real money.
Modern TimesIn 2021, the online gambling market in the USA is beginning to open up once more. The Whitehouse granted individual states the opportunity to introduce their own state-wide gambling laws and thus, we are now seeing online gambling (sports betting in particular) begin to make a comeback.
One of the biggest pioneers in the online gambling world is the slot developer, Microgaming. Microgaming video slots revolutionised the online casino scene and their software is still used throughout online casino sites to this day.
The online gambling industry in 2021 generates billions of dollars annually as an ever greater number of countries decide to regulate their online gambling markets. There are positive aspects of government regulated online gambling markets, the first being safety; regulated sites are thoroughly vetted to ensure they offer their customers fair and safe gameplay. Secondly, this stops a black market in which shady gambling sites may look to take advantage of players. Finally, regulated markets can be taxed by governments, thus ensuring that a percentage of the money is invested back into the country.
It is expected that the US government may look at online gambling as a way in which they can generate tax revenue.
Smartphones and Modern TechIn 2021, you can access any form of gambling via your smartphone device. Whether you want to bet on sports, play some online poker or play your favourite casino games, all of them can now be accessed within seconds and are just a touch of your phone or laptop away.
Here at SlotsandCasino, you will get 24/7 access to a variety of incredible video slots, exciting table games and even a live casino lobby, all of which can be accessed from your mobile phone! Due to the revolutionary HTML 5 technology, 95% of online slots and almost all casino games can be played on your mobile.
The online gambling industry will continue to thrive as long as technology continues to advance. In the past several years, we have seen the likes of Dragon Gaming transform the online slots scene due to their advanced video slots.
Virtual reality casinos have already become a reality too, likewise, there is now an array of cryptocurrency casinos. What should we expect to see next? Only time will tell, but we can assure you that SlotsandCasino will be along for the ride!