Let’s go over the history of online gambling. Everything started from 1994 with the governing body of Antigua Barbuda passing the “Free Trade and Processing Zone” act. This act basically authorized for the giving out of gaming licenses to any persons or companies who wanted to start an internet casino.
Even though the law was passed, no one really could supply the software to achieve the possibilities. But they didn’t have to wait for so long as in the same year Microgaming appeared in the market, and then CryptoLogic followed the trend. Both were not yet well-accepted as giants of the internet gaming industry, but these companies industriously built up software and security and in 1996 the 1st online casino became available for players across the world.
The years of 1996-1998 indicated expansion outclassing in the online gaming industry because of several factors. First of all, the advanced technology made it possible to speed up tremendously the growth of internet and access to it within these years. Second, the speed of software development and the increase of the number of online casinos with the added requirements were supreme. It was throughout this time that Microgaming showcased the 1st ever progressive jackpot; Cash Splash.
While it gathered its force within the online gaming industry in such a short period of time, it as well didn’t take time to see the appearance of its opponents attacking. Senator John Kyl, the Republican from Arizona presented the “Internet Gambling Prohibition Act” in 1998; it faded away in the House. The online gaming industry, established in only two years at this point, was worth an estimated $1 billion and was indicating no signs of recession. On the other hand Senator Kyl came back the following year with a re-packaged bill which failed yet again, but Senator John Kyl did not give up and put his efforts in lobbying and introducing the gills for the next six years.
Friday, February 14, 2020