Online Gambling: The History
Although online gambling is relatively new, it remains controversial. The internet became more popular in the 1990’s and online gambling was born. The first event was the 1994 law passed by Antigua and Barbuda’s government, which allowed online casinos to be established on the island. This law was known as the Free Trade and Processing Act. Many entrepreneurs realized the endless opportunities for making money online gambling and jumped at the legal opportunity to start their new venture.
In the same year, several companies were founded. More were created over time. Some of these companies created online casinos while others designed the software necessary to manage the financial transactions for online gambling. Online casinos began to grow in popularity and became a very lucrative business. In 1998, the U.S. government reported that online gambling had generated nearly 835 million dollars. Senator Jon Kyl from Arizona, who is a Republican, was determined to be the leader against online gambling and introduced the Internet Gambling Prohibition Act. This act attempted to limit gambling in the United States. Online gambling did not succeed in Congress and was able to continue to thrive, perhaps even more so because of the media attention that the senator had given it.
Online gambling was booming and software packages were created by a few companies that could be leased to online gaming sites in return for a portion of their earnings. This allows many new online gambling sites to emerge. Canada began to crack down on online gaming in this period, raiding offices, and ultimately fining the biggest online gambling server.
1999: Senator Kyl presented a revised version to his Prohibition 메이저사이트 Act bill. It fails again to get the support it needs to pass. Australia permits the establishment of an online casino. This is the only one that was allowed, and it is still operating. While many other casinos tried to get licenses in Australia, the Australian government swiftly enacted a law that prohibited any new online gambling operations.
In 2000, Bob Goodlatte, a Republican senator from Virginia, introduces a revised Prohibition Act to Congress. It is again rejected. Two bills to reduce online gambling were passed by Congress the following year. The Wire Act was updated to make it illegal for individuals to engage in gambling or betting. The second bill is designed to stop online payments to online casinos. It prohibits institutions based in the U.S. to handle such payments and makes it harder for U.S. citizens to gamble online.