History of online casino
Online casinos have been around since the nineties. The history of online casinos beginning in the nineties. InterCasino was the first real virtual casino that opened in 1996 to the public. Not long afterwards followed many other casinos. These casinos actually walked to the legislation at that time for monitoring online casinos was almost non existent. In addition to great reliable online casinos appeared then quickly sorts of seedy casinos in which your deposit was definitely not safe and it did not take so closely with the – albeit limited – rules. Although it was by no means always clear how reliable an online casino really was, the market grew enormously and at breakneck speed. Worldwide played soon thousands of people at these internet casinos.
The growth of the online casino market
In the early years of the 21st century there were about 700 online casinos online in several different currencies. It is estimated that there are already some 8 million people in 2001 had once tried a form of online gambling. There rapidly were released more online gambling and the industry continued to grow fast even though there was more regulations to limit growth. Especially in the United States was almost desperate attempt to limit or even ban online casinos restricted. At first this did not work. The Gambling Regulation and Enforcement Act was introduced in 2006. The result was that players in the US no longer allowed to gamble online. The online casinos thus lost the greater part of their market.
English Online Casinos
It is no doubt that the online gambling market is a growing industry in the United Kingdom. According to the latest statistics by the UK Gambling Commission (UKGC), the total gambling market was worth £14.3 billion between October 2018 and September 2019. The statistic shows that online gambling holds the largest share of the market, accounting for 38.60% of the overall sector.
Online casino games such as slots and table games comprise a large part of the Gross Gambling Yield (GGY) for the year, but other types of gambling increased as well. Online betting, led by football and horse betting, totalled a whopping £2.1 billion for the year. Online bingo grew 12.5% to a total of £198.1 million.
In recent years, the UK Gambling Commission has introduced new regulations and measures to combat gambling addiction in the United Kingdom. In April 2020, a ban on credit cards to protect players at risk was implemented on all UKGC licensed gambling sites. Research has shown that 800,000 online gamblers in the UK used a credit card for gambling in 2018, and 22% of these consumers are problem gamblers.