Online gaming is not very old and started in the late 1990′s with the Caribbean government legalizing online gambling. This step paved the way for further advancement in this field. Although it is illegal to gamble on the Internet in many countries, foreign-based casinos and gambling houses carry out their businesses with impunity. This is because governments do not have the power to interfere in other country’s business activities.
On November 10, 2004, the WTO (World Trade Organization) ruled in favor of the Antigua (Caribbean) government. The indictment was that the Caribbean government was exporting the gambling business to the US. However, the WTO ruled that the US government acted against GATS (General Agreement in Trade and Services).
Backtracking along the timeline will reveal that the first online casino became active in 1994 and was empowered by the free trade processing zone act, which allowed operation of casinos from Antigua, Barbuda. The first online gambling house was called Cryptologic, which began creating software for online gambling. Other companies that contributed to the development of such software were Microgaming and Starnet Communication.
Canada was also one of the first countries to start online casinos. It regulated online gambling activities by forming a body called the Kanhawake Gaming Commission. This commission saw to it that all the practices involved in online gambling were fair and transparent. However, Cryptologic was the first company to start a gaming platform on the Internet and provide cash deposit facilities.
At this time, American players acted as catalysts in this process because of the abundance and ease with which Internet facilities were available in the country. In light of these events, the US government tried to pass a law prohibiting online gambling but failed. This attempt was made again after some time but again the bill failed to get two-thirds majority in the US House of Representatives.
Today, there are more than four hundred online casinos in the world but many more operate illegally. Thus, it can be said that the online casino industry has literally expanded in leaps and bounds within a decade of starting and has become a multi-billion dollar business.
