Casino history is quite fun, mainly because it has happened so much in recent years and there are lots of casinos. Ever since the internet began to take shape, eventually it spread to every home and then explosively developed into the vast tool and now also on smartphones and mobile casinos.
The social network and sales channel we see today, several companies have seen the potential right from the start and have been at the forefront in terms of utilizing its power to its fullest. Most people probably know the history of recent years, but how long ago was it? How did it start?
One market segment that has mainly used the opportunity is the casino industry. In part, existing physical casinos have expanded their clientele by offering online games to those who do not have the chance to visit a land-based casino. But above all, a large number of newly established casino companies have succeeded in entering the market, and this has been a success.
It is convenient to play Casino online and nowadays also via mobile and tablet. You can play the Casino wherever you are as long as you have an internet connection.
In 1994, game maker Microgaming from the Isle of Man developed the first casino software together with CryptoLogic, also a software developer but specialized in online security systems. They managed to find a solution for secure transactions and the conditions for online casinos were created.
In parallel with this, the Caribbean nation of Antigua and Barbuda issued a law that allowed online casino licenses to be granted, which is one of the reasons why many of the casinos available online today are licensed right in the realm.
However, the development has become that most casinos have their base in Malta, and this means tax-free profits, unlike the gaming companies that have their gaming license outside the EU.
Today, there are several players in software development for online gaming, the most significant being CryptoLogic Inc, NetEnt, International Game Technology, Microgaming, Playtech and Realtime Gaming. In recent years, there have been several Swedish start-ups such as Yggdrasil, Play’s GO, Quickspin, JFTW, ELK and others.
Special laws in different countries
In the United States, special laws apply to Indian reserves. As part of creating conditions for self-sufficiency and jobs on these reserves, where unemployment had been soaring and poverty high. There, an exemption was made for casino operations that, apart from Nevada, are prohibited throughout the United States. In 1996, the Gaming Commission was founded on the Mohawk Reserve in Kahnawake and began issuing gaming licenses to many of the world’s online casinos and poker rooms.
In the late 1990s, online games increased in popularity, thanks in large part to poker. Since there were fifteen online casinos in 1996, there were already two hundred in 1997. The following year, the first poker rooms were introduced, and another year later, in 1999, the first poker rooms were started where more players could participate at the same table and chat.
In 2000, the British territories of Man Island in Gibraltar created their own and today we also have Malta, Belize, the Dutch Caribbean, Antigua or Cyprus.
The online casino phenomenon is a massive industry that is only growing; you probably understand that advertising in various media is frequently occurring. In Europe, most companies are registered in countries such as Malta, Liechtenstein or Gibraltar.
This is because they partly have more favourable tax rules for companies that establish their online Casino. But also when they fall under the EU’s rules on free trade where EU citizens do not need to tax their profits. Tax-free winnings are something we players like. Since the new gaming regulation that applies from January 1, 2019, casinos must have a Swedish gaming license from the Gaming Inspection for winnings to be tax-free.
Game inspection To know if an online casino is serious is to check if they have a gaming license, but also where they have their gaming license. It is essential from that point of view whether the profits are tax-free or not. You will usually find information about the online Casino’s gaming license at the bottom of their page. When an online casino has a gaming license you can feel safe and secure. If this information is difficult to find, the Casino is probably located outside the EU. And so it is the tax on the winnings, so this is important to know before registering your gaming account.
With the development of data transfer, as it has grown in speed and connectivity, online casinos have also taken to our mobiles as well as tablets. The world over today sits millions of people at home in front of the computer or in a cafe where they play everything from Slots, Roulette and Blackjack to big poker tournaments where prize money and jackpots can make one of us a millionaire overnight.
Developments in new casino sites have been at a furious pace and events are ongoing.