The history of online gambling begins in the island country of Antigua and Barbuda in 1994 when the Free Trade and Processing Zone Act was passed, providing legislation for licensing to potential online casino companies. Subsequently, after gaming and online security software was developed, InterCasino opened as the first online casino in 1995.
Between 1997 and 2001 alone, online gambling revenues tripled and by 2004, they had almost tripled again. By 2006, revenues were estimated to be approximately $15 billion worldwide.
In response to corruption in the online gambling world, the eCOGRA (eCommerce and Online Gaming Regulation and Assurance) organization was founded to maintain the safety of gambling environments. Today, eCOGRA is still the unifying organization regulating and monitoring online gambling sites around the world under a set body of standards and laws.
A major turning point in the history of online gambling was on September 30, 2006, when U.S. Congress passed a bill rendering payment processing from U.S. residents to online gambling companies illegal. President Bush sealed the deal that marked the possible end of online gambling for Americans when he signed the bill making it law.
Because the U.S. provides at least half of the income for most online gambling companies, many suffered a major stock plummet. Many debates and legislations followed and at present, the legality of participating in online gambling is questionable in the U.S., but is practiced widely in other parts of the world. Growth in the industry, where it remains legal, is almost guaranteed. Online Casino Rooms and online slots game are legal 100%
