Internet Gambling-A Short History
March 23rd, 2012Gambling has a long history. Archaeologists found a 5,000 year old pair of dice while excavating a Bronze Age site in Iran. Native American tribes have games that date back thousands of years and a few of these games are still played today at Pow Wows. Humans have been risk takers for millennia and gambling is nothing new. It was inevitable that technology and gambling would be combined at some point in history. In the 1880’s Charles Fey invented the first slot machine. Fey’s machines eventually became the biggest moneymakers for Las Vegas casinos which had rows and rows of ‘One armed bandits’ in their casino floors.
In 1965 Donald Davies, a British computer scientist, suggested that modern technology could be applied to betting. The development of random number generators made today’s modern slot games and video keno, poker and blackjack possible. Game developers are quick to embrace and apply the latest technologies to various forms of gambling. Thirty years after Davies suggested combining technology with gambling the very first internet gambling sites appeared on the internet. The sites offered sports betting and casino games. IN 1999 the first online poker sites made their appearance and were an instant hit. The new industry flourished and by 2005 PartyPoker became one of the first internet gambling companies to go public and was listed on the London stock exchange.
The sudden popularity of internet gambling left governments struggling to keep up with the latest technologies and the legality of internet gambling was a legal grey area in many countries. While lawmakers argued about the morality and legality of internet gambling players continues to wager billions annually. Government bans on internet gambling have been ineffective at best and many compare the prohibition of online gambling with the ineffective prohibition of alcohol in the United States. Offshore gambling sites are beyond the reach of law enforcement. While some countries took a prohibitionist approach others decided to tax and regulate internet gambling. The UK is an example of a rational approach to internet gambling. In the UK internet gaming operators are licensed, taxed and regulated.
Today the most popular forms of remote gaming are casino games, sports betting and poker variations. In the early days of internet gambling most players were men from 25 to 35 years old. Today almost half of all internet gamblers are women. Studies show that women prefer online slots and internet bingo while men prefer poker and sports betting. Internet gambling has a 23% growth rate annually making the industry very attractive for savvy investors.




