The online gambling industry has come a long way since its inception in the late 70s. The industry has undergone three major transformations in scope and size, and is now playing an integral role in the global economy.
The first major change came with the introduction of land-based casinos to gaming facilities, which happened during one of the earliest economic crises in 1980-1981. Gamblers were forced to wander for hours on end to hit jackpot jackpots that seemed as elusive as a pot of gold at the end of the rainbow. The establishment of online casinos thus saw land-based casinos move online, with Malta, Gibraltar and other microstates in the European Union emerging as the new superpowers of online gambling.
The second change saw the emergence of several large multinational corporations that are now amassing billions of dollars in annual revenue. Many of these corporations had already set up their own interactive television systems to provide direct gaming facilities to customers worldwide. These companies were able to employ an existing infrastructure and expand their reach through partnerships with hundreds of affiliates.
The third and most recent change has seen online gambling restructured, with more licensing procedures being implemented, as well as a consolidation of all the players in the market. This was made possible by the creation of new digital currencies which gave existing companies better access to a worldwide audience. This can be seen as a form of market competition that leads to technological innovations in the industry.
Although it is still too early to determine whether this latest innovation will succeed or fail, what is evident is that online gambling presents an unparalleled opportunity for business and investors.
Background Information To Begin
The online gambling industry has evolved over time into one of the most lucrative and widespread businesses around today. A highly competitive market has driven many developments in online gambling, with its profitability reaching a record $4.4 billion in 2013 alone.
This industry was initially established in the late 70s by online casinos that developers developed through the use of digital technologies in accordance with several technological limitations. These included the lack of personal identification and expanded access to เว็บพนันออนไลน์ ฝากถอนไม่มีขั้นต่ำ games and applications.
Ten years after its inception, the industry had already become one of the largest sources of revenue for gaming firms globally. The growth rates seen back then were unprecedented, but it still did not meet expectations on a grand scale as its regulations and restrictions also restricted its growth as an industry.