The concept of gambling money on the outcome of events is not a new one. Throughout history, placing wagers had many shapes, forms, and structures. While certain kinds of staking bets have almost certainly existed since the start of human history, the oldest solid evidence comes from Ancient China, when tiles were discovered that seemed to have been used for a basic game of chance. Even more, the Greek playwright Sophocles documented that dice came to light during the assault on Troy. And while this may have a questionable foundation, in reality, his works are the first mention of dice in Greek history.
Leading on, there sure is plenty of evidence of gambling being inextricably tied with humanity’s history. Nevertheless, due to all the technological advancements we’re witnessing now, people are starting to examine the validity of online gambling as a business model. This begs the question, is iGaming ever going to fizzle out? Or is this form of betting here to replace your typical neighborhood bookie. While loads of casino players love Casumo and other online-based casino applications, saying definitively whether the industry is sustainable or not isn’t so straightforward.
The Inception of Online Casinos
We can’t accurately predict the future of any industry without analyzing its beginnings first. If the development of online casinos is attributed to a single key event, the introduction of the Free Trade and Processing Act by the government of Antigua and Barbuda is by far it. This law, approved in 1994, gives this small Caribbean Island the authority to offer licenses to firms wishing to launch internet casinos. Another significant event occurred that year, more than 4,000 miles and an ocean away — the establishment of a software firm named Microgaming on the Isle of Man. Back then, the small company did not have much in terms of a budget. However, that did not prevent them from single handedly kickstarting the whole industry by launching the first online casino application.
Exploding Demand
It didn’t take long after the first online casinos launched for people to realize their enormous potential. They quickly grew in popularity among players since they were a fresh and gripping approach to enjoying gaming. Many firms inspired by InterCasino’s remarkable success; followed in their footsteps in the months that followed. A slew of casinos sprung up, and the field became fiercely competitive. Each operator strived to be the best, offering the most titles or the widest range of game varieties. And, because computer technologies were a major limiting factor at the time, businesses had to think outside the box in order to persuade customers to buy their products.
Evergrowing Progress
We come to the meat of why we believe that iGaming market isn’t just here to stay but also continuously grow. Ever since its beginnings, online casinos have been the lever that pushes the whole online gaming industry forward. As time passed and technology advanced, the overall experience of the gamers increased. The visuals were considerably better, the sound effects were more lifelike, and technical glitches were a rarity.
Nonetheless, the great majority of ardent gamblers preferred playing at a traditional brick-and-mortar casino to their online counterparts. However, with the introduction of live dealer games, all of it was about to change. Modern technology enabled players to view live broadcasts while playing, allowing them to experience the authentic casino ambiance that many people miss while playing online.
Despite the fact that online gambling’s bud has been blooming for over two decades, the position of online gambling in the online gaming sphere remains a bit uncertain to this day. Even so, internet gambling will continue to be popular since it allows you to experience that unique sensation without leaving the comfort of your own home.
