Online gambling first appeared on the internet in the mid-1990s. Microgaming software was founded in 1994 and still has the corner market today in many of the online casinos. Microgaming is chip software that runs the various machines found in land-based and online casinos. There is some debate as to who was the first casino to appear on the Internet and most would say that InterCasino first appeared in 1996. However; There are others who claim that the Microgaming Gaming Club was the first online in 1995.
Since the first casino to operate on the Internet, casinos have continued to improve their online operations and adjust the software, servers and connections that serve players on the World Wide Web. Regardless of slow bandwidth causing connection problems for gamers, the industry still raised an estimated $ 834 million in 1998.
Intertops was the first online sportsbook to appear in 1996; however, they have been in business long before, accepting phone bets since 1983. Intertops is still strong today and is satisfying more than 180 countries with its service.
Online poker first emerged in early 1998 and was facilitated by Planet Poker. Paradise Poker followed in 1999, Party Poker and Poker Stars in 2001. Planet Poker is still in operation; however, they no longer allow real money exchange of hands. By 2008 Party Poker had lost its industry lead to Poker Stars and Full Tilt Poker, estimated by the number of players online.
The popularity of online gambling does not appear to be declining since its inception. With state-of-the-art technology, online casinos have the ability to offer real-time gaming and instant spin capabilities, thus satisfying all sectors of the gaming industry and increasing revenue. The casino software available today is not only advanced for maximum player enjoyment, it is also completely secure.
In 2010, the online gaming industry grew 12.5% with gross revenue close to $ 29.95 billion, regardless of the perceived recession. The online casino sector grew by approximately 13.3% in 2010 and generated an estimated $ 2.67 billion. Most of the money that contributes to online gambling revenue is generated by sports betting at approximately $ 12 billion.
Online bingo stole the lead by being the fastest growing sector in 2010, estimated at 28.4% growth and to the tune of $ 2.67 billion. Although poker is the most talked about, it was considered the slowest growing online gambling sector, generating around $ 5 million.
In 2006, many of the online gambling companies decided not to allow US players to spend money at their establishments due to uncertainty regarding foreign UFABET gambling laws, following passage. of the Law on the illegal application of gambling on the Internet. There was a lot of debate about the different states that could play legally and which ones could not. Many of the casinos have revised their policies regarding gambling in the US From that point on and now most of the online gambling establishments will once again accept US players.