The advancement of online casinos has had a significant impact on the gambling market. The first online casino, InterCasino, was established in 1996. It used cryptologic software, which was safer for transaction. By 1998, the number of online casino games also increased. Competition from various online casino sites was also on the rise.
In 1999, multiplayer gaming was introduced. Such online casino games allowed the players to gamble and socialize at the same time. An independent oversight official authority known as eCommerce, and the Online Gaming Regulation Act (eCOGRA) were established in the year 2003. Come 2006, the United States of America passed the unlawful internet gambling enforcement act to tame rogue online casino operators.
In 2008, jackpots offered by online gambling sites passed the $5.5 million target that was paid to the first winner. $11.7 million progressive jackpots were won by another player in 2011. This showed a progressive step with an increment of about $ 6.2 million.
More deposit and withdrawal methods were now in place. Bitcoin was accepted in the market in 2014 as the preferred crypto-currency transaction mode by most top online casinos. Bitcoin and other cryptocurrencies ensured that gamblers could easily transact anonymously with casino websites without exposing their personal details.
Today, most online casino games can be accessed via mobile. Punters can now enjoy HD quality casino games with responsive player controls. The top casino sitescurrently employ stunning 3D graphics, dramatic animation sequences, and remarkable sound effects for players to enjoy.
Currently, the size of the online casino market is around 46 billion US dollars, which shows a more significant improvement in the online casino business. Statistics carried out show that by the year 2024, the numbers would have increased to approximately 94 billion US dollars.
This huge rate of improvement of online casinos is good news for online gamblers. As technology evolves, the future guarantees an even more thrilling gaming experience to the everyday gambler.