A brief history of online gaming industry since 2000
Posted on May 5, 2023
A brief history of online casinos since the year 2000. As the internet became increasingly accessible to people worldwide, the online gaming industry started to flourish. The recent period saw significant technological advancements and a growing demand for online gaming entertainment, resulting in the birth of numerous online casinos.
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The Pioneers and Early Growth of the Industry
One of the first online casinos to emerge during this period was InterCasino. It was established in 1996 but began to gain popularity in the early 2000s. InterCasino was one of the pioneers in the online gaming industry and paved the way for other online casinos to follow.
Soon after InterCasino emerged, several other online casinos, such as PartyCasino and 888 Casino, entered the market. These casinos provided a range of games, such as poker, blackjack, and roulette, accessible globally through an internet connection.
However, the legality of online gambling was still a grey area in many countries during the early 2000s. In 2002, the United States enacted the Unlawful Internet Gambling Enforcement Act (UIGEA), which prohibited financial institutions from processing transactions related to online gambling. This act significantly impacted the online gambling industry in the US and led to the closure of many online casinos.
Despite the challenges, the online casino industry continued to grow globally. In 2003, an amateur poker player, Chris Moneymaker, won the World Series of Poker (WSOP) and became an overnight sensation. This event led to a surge in the popularity of online poker and spurred the growth of online poker rooms, such as PokerStars and Full Tilt Poker.
Technological Advancements and the Modern Era of Online Casinos
The mid-2000s saw a rise in mobile gaming technology, further fuelling online casinos' growth. Mobile devices allowed players to access their favourite games on the go, and online casinos began to develop mobile-friendly versions of their websites. This period also saw the emergence of live dealer games, which offered players a more immersive and realistic gaming experience.
In 2011, the US Department of Justice changed its stance on the legality of online gambling, stating that the Wire Act only applied to sports betting. This decision paved the way for individual states to legalize online gambling. Online gambling is legal in several states, including New Jersey, Nevada, and Pennsylvania.
The online casino industry has come a long way since the early 2000s. Today, online casinos offer a vast selection of games, including slot games, table games, and live dealer games. Thanks to advanced encryption technology and strict regulations, they have also become more secure and transparent.
The online casino industry has grown significantly lately, with the global online gambling market projected to reach $127.3 billion by 2027. The COVID-19 pandemic has further increased the growth of online casinos, with more people turning to online gaming as entertainment while staying at home.
Summary
The history of online casinos since 2000 has been one of growth and evolution. From the early days of InterCasino to the modern era of mobile gaming and live dealer games, the online casino industry has come a long way. With the increasing adoption of technology and changing regulations, it will be interesting to see what the future holds for this industry.