Development of Gaming Industry
In the last three years, however, the industry has experienced a massive increase in popularity. Here we’ll take a brief look at the timeline following the development of the industry.
In 1994 The Free Trade and Processing Zone Act was passed by the government of Antigua Barbuda which paved the way for many of today’s online casinos and sports books to operate under licenses that were granted pursuant to this ground breaking legislation. In the same year Microgaming was established as one of the first and largest software developers and suppliers to the online casino industry.
In 1995 CryptoLogic was founded and worked on developing a series a software packages to securely process online transactions.
In 1996 Boss Specialtidningar AB, the parent company of Boss Media, developed a system for Internet casino operations. Cryptologic began to develop the first E-cash and gaming application. InterCasino went online in October of this year, claiming it is the first internet casino to accept a real money wager online.
In 1998 Microgaming launched the Internet’s first progressive jackpot slot game, Cash Splash.
In 1999 Lasseter’s, the first Australian Government licensed Internet casino, goes online. Boss Media releases its new multi-player gaming software platform, allowing multiple players to play the same game at once.
In 2001 the Nevada legislature passes a bill allowing licensed online casinos to operate out of Nevada. Alderney (British Channel Islands) passes legislation for Interactive Gambling, and the Alderney Commission is now in a position to accept license applications. The Gambling Review Report is released in the UK.In 2002 the first ever $1million+ online casino jackpot was won on the Microgaming progressive slot game Major Millions at Captain Cooks Casino.
In 2003 eCOGRA (eCommerce and Online Gambling Regulation and Assurance) is established. Chris Moneymaker is $2.5 million richer winning in the 2003 World Series of Poker. Playtech launches “Live Gaming”.
In 2005 A Florida resident wins the $1,966,000 progressive jackpot on the Gold Rally slot at Carnival Casino. PartyGaming floats on the London Stock Exchange.
In 2006 Playtech’s shares are admitted to the AIM market of the London Stock Exchange, valuing the company at approximately 548 million pounds.
In September, the US Senate pass the Internet Gambling Enforcement Act 2006 (H.R. 4411)
In 2008 a Dutch player wins that largest jackpot at an online casino of $2.5million at 32Vegas casino.