In 1994,Antigua and Barbuda passed the Free Trade & Processing Act, allowing licences to be granted to organisations applying to open online casinos.Before online casinos, the first fully functional gambling software was developed by, Microgaming an Isle of Man-based software company. This was secured with software developed by CryptoLogic, an online security software company. Safe transactions became viable and led to the first online casinos in 1994.
1996 saw the establishment of the Kahnawake Gaming Commission , which regulated online gaming activity from the Mohawk Territory of Kahnawake and issues gaming licences to many of the world's online casinos and poker rooms. This is an attempt to keep the operations of licensed online gambling organisations fair and transparent.
In the late 1990s, online gambling gained popularity. Internet
gambling websites had increased from just 15 websites in 1996, to 200
websites in 1997. A report published by Frost & Sullivan
revealed that online gambling revenues had exceeded $830 million in
1998 alone. In the same year the first online poker rooms were
introduced. Soon after in 1999, the Internet Gambling Prohibition Act was introduced, meaning a company could not offer any online gambling product to any U.S citizen. This did not pass.
Multiplayer online gambling was also introduced in 1999. This was the
first time people could gamble, chat and interact with each other in an
interactive online environment.
In 2000, the first Australian Federal Government passed the
Interactive Gambling Moratorium Act, making it illegal for any online
casino not licensed and operating before May 2000 to operate. The new
legislation meant Lasseter's Online became the only online casino able
to legally operate in Australia; however, they cannot take bets from
Australian citizens.
By 2001, the estimated number of people who had participated in
online gambling rose to 8 million and growth would continue, despite the
legislation and the lawsuit challenges which would continue to be
received by online gambling.
In 2008, H2 Gambling Capital estimates worldwide online gambling revenue at $21 billion.
In 2016, Statista has predicted the size of the online gambling
market would have a volume of $45.86 billion growing to $56.05 billion
by 2018.
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