Charting out the rise of online gambling

Charting out the rise of online gambling

Did you know that the gambling industry has grown to such an extent in the past few years that it’s estimated to be worth around a whopping 45 billion dollars? That’s a lot! Especially for something that didn’t even exist a few decades ago. Of course, gambling in casinos has been around for quite a while now and it’s always been highly popular but what exactly is behind this meteoritic rise of judi online? Let’s go down memory lane for a bit and also go through some fun facts.

History of virtual gambling:

In 1994, the free trade and processing act which was passed by the government on Antigua and Barbuda paved the way for online casinos to be set up legally. The first gambling software was developed by a company based in the Isle of Man in the same year. Impressively, the software also featured a robust security system to ensure safe and smooth transactions of money between players and dealers. In 1996, the first gaming commission was established.   The main job of a gaming commission is to regulate the gambling scene and ensure that all the casinos operating are licensed and trustworthy.

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However, it was not until the late ’90s did the online gambling market start to gain popularity. The number of websites dedicated to virtual gambling jumped from 16 in 1996 to over 200 in 1997. The following year the global revenue was estimated to be around 800 million dollars. Soon the first poker rooms online were established. The rest, as they say, is history.

Unknown facts about virtual gambling:

  • Contrary to popular belief, judi online isn’t legal in most parts of the world. Not all US states allow citizens to partake in virtual gambling.
  • Restrictions of gambling laws apply to video games too. The casino in the popular multiplayer video game Grand Theft Auto Online is inaccessible in some countries due to the gambling laws in that region.
  • The most important tool in virtual gambling is the random number generator which is simply a software that is used to generate numbers. A simple yet highly effective tool is employed in most online casinos on the internet.
  • Slot machines are the games primarily responsible for generating revenue for online casinos. Students have shown that close to seventy percent of the revenue comes from the virtual slot machines alone. These also utilize the random number generator software.
  • Many online casinos offer to sign up bonuses. There are also other bonuses offered regularly.
  • Professional poker players nowadays start their career in an online lobby. This speaks volumes about how much the industry has moved forward over the past decade.

Virtual gambling will continue to rise and rise as more players pour in. Some people even pursue it as a full-time career. It might be an enticing hobby for you too.

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