Information empowers. bet And, its power rings true in every aspect of life. As we ride what Alvin Toffler calls the Third Wave, the power of information has been unleashed like never before.
Living, Learning, and Playing. The order may possibly change in terms of priorities, but these three are essentially the maximum impact areas of information revolution. The age of the Internet has single-handedly changed the rules of almost every kind of activity within human realm.
At the end of the day, people love to play. It comes as no surprise to find that gaming has been one of the most popular activities on the Web right from the word go.
Here, it is pertinent to take a look at the way online casinos have evolved and are now emerging as one of the high growth areas of the Internet before we get on to the specifics of issue at hand.
At the risk of sounding repetitive, if one were to capture the development of online casinos in one sentence, nothing could express it better than the assertion put forward by Victor Hugo: Nothing is more powerful than an idea whose time has come.
From the first step to the present, the journey so far has been an eventful one. The domain, essentially egged on by the proliferation of Internet that lead to removal of the existing barriers in terms of laws, regulations, and geographical boundaries, has had its pitfalls.
Though gaming had been a part of the Internet since the opening of 90s, officially, the first online casino opened in 1996. This was made possible by a law passed by Antigua and Barbados in 1994, enabling them to issue gambling licenses. This development is significant because till date a large number of online casinos are using this route to acquire licenses.
The two intervening years since the passing of licensing law to placing of the first bet online are most eventful in terms of shaping up this domain. This period saw a whole lot of activity in terms of developing a better understanding of the concept by the regulators and the general users and coming up of dedicated software providers.
Since the very beginning, given its nature, and its status at that point in time, online casinos have been prime targets of network crime. This crucial issue was largely resolved by emergence of Internet security firms solely catering to the unique issues faced by this segment.
And, then there were all the legal challenges. The online casino industry has crossed numerous legal barriers in its race to the present. Though some of the challenges still persist, the worst is clearly a part of the past and the industry as a concept has now taken deep roots with hundreds of virtual or online casinos.
