One of the most impressive things about the Internet is the way it has innovated almost all existing industries and helped in the creation of a number of technologies used in the world today. Almost every industry today can benefit from these technologies and the Internet. One of these industries is gambling. Since the turn of the millenium the gambling industry has further prospered thanks to the Internet. Today, online gambling and sports betting over the Internet have become an increasingly profitable business. Almost anyone, from anywhere, can make a bet and play. Not only that, but the business side of gambling, from dealing with promotions like BetAmerica promo codes to managing bets and reporting match results, has become increasingly easy thanks to the Internet.
When it All Began And Where It Is Going
The history of online gambling started around 1994, when the Free Trade & Processing Act was passed in Antigua and Barbuda. This allowed licences to be given to groups that wanted to start an online casino business. Since then, other countries, seeing the profit of online gambling games, started to allow their governments and gambling commissions to issue licences to those who are applying to open online gambling businesses.
But of course, not all countries have allowed their citizens to freely do business as they please. Just like all businesses, there are laws and rules to follow. Extreme cases, like Australia’s Interactive Gambling Moratorium Act (that took effect in 2000) exists, and there are laws that ban online gambling completely, like the USA’s.
But these laws have not stopped the industry. By 2001 the user base had grown to more than $8 million and by 2008 the industry’s revenues were estimated at around $21 billion. In 2016, Statista estimated that the industry would be worth $56 billion this year, but current data shows otherwise: it instead shows that the estimated amount is set to be reached in 2020.
The Other Side of Online Gambling
The people finding pleasure in gambling is the bloodlife of the gambling industry, but it is the technology behind it that makes it possible for these people to be part of it. So naturally, to be mindful of news on technology and innovation, especially when it concerns the Internet is a must. Innovations when it comes to hardware and software involved must be understood and monitored. It won’t do you any good if you don’t know why some people are having difficulty visiting or playing on your site, for example, if the problem is with their end or the server end. For this reason, it is an unspoken requirement for licence holders, the business owners, to have sufficient knowledge about said technologies, as they should do with gambling and its different forms.