Background to iGaming
For the iGaming industry to get where it is today it had to go through many different milestones. The gaming platform has many factors that help with its overall development as well as going through the vast majority of challenges to keep users on their toes.
In this article, we have provided you with detailed information on the history of iGaming so you can have a better chance of understanding the whole industry a little better.
About iGaming
First things first, you need to start from the very foundation of what makes iGaming so special and understand what it is at its core. When you look at the name, iGaming seems like a very straightforward term but we are here to let you know that it can leave you confused by the end of reading the definition.
iGaming represents a system of online slots where all of the outcomes rely on chance and additionally there are monetary awards for the winners of the games. Now some newbies have a harder time grasping the simple concept of this as well as getting thrown off by the name. More experienced individuals have no problem fully understanding what the iGaming industry is all about.
As mentioned above, the iGaming category has games that involve the system of betting while the games that do not support this system do not fall under this category. The casino-based games can be included here. That being said, there are some social casino games that do not involve betting and these are considered exceptions.
Online casinos today offer a variety of different yet interesting game classifications that fall under the iGaming category, such as:
· Poker
· Mobile Gambling
· Various Casino Slots
· Lottery
· Sports Betting
· Bets on Horse Racing
· Bingo
The iGaming Journey
iGaming today represents a huge industry and as a result of this and it took quite a long journey to get to the place it is today. There are some key events that deserve an honorable mention in this segment of the article and we have provided most of them below.
Development of the First iGaming Website
The first step this industry has ever taken has to be Microgaming. This was back in 1994 when most of the action had to go through Microgaming since it was the only thing available before online casinos were a thing. For a long time, and before the launch of online casinos Microgaming was considered the largest gaming developer.
Later the same year, the first license that allowed online casinos to run properly was issued and that is how it all started for the online casinos and the overall iGaming industry launch.
The Kahnawake Gaming Commission
After the launch of the first online casino license, there were many more shortly after. This made for the launch of the Kahnawake Gaming Commission in Canada back in 1996 to be able to maintain some kind of regulation for all the gambling licenses that were being active all over the world.
As a result of the newly launched monitoring of the licensing in the iGaming industry, casinos started allowing players to use real money for betting. InterCasino is the first recorded online casino to allow its players the opportunity to gamble and make wagers using real money.
iGaming Achievements
As far as achievements go in the beginning stages of the iGaming industry, one that sticks out the most must be the introduction of Cash Splash. This introduction was made possible by none other than Microgaming and it represented the first progressive online jackpot slot that rewarded the players with huge amounts of cash.
Similar to the progressive online jackpot slot, PlanetPoker released the first-ever online poker room. And with the game’s population and the new availability of the online casinos, the whole movement became viral in a matter of days.
Other iGaming Advancements
Before entering the new era of the 2000s, the iGaming industry had over 700 online casinos that were operating with real money under their belt. This didn’t stop the industry from having further advancements.
An honourable mention has to go to the Multiplayer feature that was newly added to the online casino games before the start of the new century. This new feature was allowing players to interact with one another while enjoying their favourite online casino game.
New Concept of 'iGaming'
By the time the new century settled in, the iGaming industry got spread even further and was reaching more and more countries. Different territories all over the world were slowly opening the doors to the gambling at online casinos movement that was spreading rapidly.
The revenue this industry managed to obtain reached an incredible 2 billion dollars. This was a result of the vast spread of the industry that by this point had reached more than 8 million players on a global scale.
Growth of Online Gaming with Mobile Devices
Another achievement worth mentioning is the involvement of mobile devices in the industry by 2010. At this point, many businesses have managed to include mobile devices in their communication with each other, and iGaming was no different.
This made online casinos and their games available at any time and any place, which made more players interested and that resulted in the further growth of the industry. At this point, iGaming became available for anyone including beginners in the online gambling stage as well as professionals who know what they are doing.
With the huge help of mobile devices, the players could have better access to their favourite online casino games in the comfort of their own homes or take their games with them and play on the go. This even made the bet amounts skyrocket, and reach unbelievably over 10 billion dollars worth.
Conclusion
We believe that the industry of iGaming will continue to grow as time goes on and more players can witness the value of betting online and landing huge cash-outs. This industry has so many benefits to it and it only grows to fit the standards of the modern society daily. Players can help with the development progress by being involved in the industry and giving useful feedback at their favourite online casino.
There is no denying the fact that iGaming faces different challenges that sometimes slow down the process of development but the good thing is they never stop.
This article was made to help iGaming enthusiasts of all ages have a better understanding of what the iGaming industry is all about. With a better understanding of the developing process of this industry, you are better prepared and know what to expect from the industry and its future developments.