Technology has been a driving force in the gambling industry for over a decade, and first came to prominence as a source of convenience and entertainment. It was mainly used as an escape from reality, but it has since evolved into a powerful tool for finding new highs. However, with increased emphasis on technology comes increased risk of fraud and other negative outcomes. This shift in the gaming world is due to how technology—specifically online gaming—convinced consumers that gambling was safe without any government or regulatory intervention.
Even though online gaming is still relatively new, it has already gained significant momentum—particularly for the online casino industry. According to Statistics Brain, “Mobile gambling has increased steadily over the years with mobile users accounting for 20% of worldwide gambling activity in 2014.” While mobile casinos are highly common today, they are also just one among many other types of online casinos that exist throughout the world. Every method of accessing an online casino has its own pros and cons, but mobile casinos are by far the most convenient way to play. The only downside to mobile casinos is that they typically have lower payouts than traditional land-based or desktop casinos.
The history of online gambling began in earnest in 1998 with the development of the Internet. Many of the ideas and concepts we take for granted today were born during this time, and while the first steps towards regulated online gaming were made as early as 2001, it wasn’t until 2003 that legislation was implemented.
The online gambling industry started with low stakes, low fees, and no regulation. The only way to play at that time was to go online and search for a game yourself—the first “roulette.” There wasn’t much of anything on the web at the time, but there was enough demand for games that people didn’t even know they were illegal. The definition of gambling in American law is very strict, so this made it very hard for people to find fair online games. Although this changed in 2003 with the passage of Unlawful Internet Gambling Enforcement Act (UIGEA), only regulated US-based casinos could legally offer real money wagers before the act took effect. After this collapse of the online poker industry, action had to be taken.
However, online casinos and gambling sites were not the only companies affected by UIGEA; payment service providers also took a huge hit. The credit card companies immediately started blocking charges from gambling sites, making it more difficult for players to deposit and withdraw money from their accounts. This was one of the first instances of technology keeping people out of the gambling industry, but what happened next is even more important.
In 2006, a group of 12 men—three from Nevada and nine from Costa Rica—developed a solution that would change the face of online gaming forever: Bitcoin . This “cryptocurrency” allows people to send funds instantly with minimal transaction fees. In addition, Bitcoin is a decentralized currency, meaning there is no government to restrict its use. This makes it the perfect tool for any type of business transaction—especially one that requires anonymity and security.
Bitcoin was a huge step towards a fair online gambling industry because it completely decentralized the transfer of money from payers to providers by eliminating banks and credit card companies from the equation. In 2011, two major events happened in the gambling world: the US Department of Justice’s indictment against three online poker companies, and New Jersey legalizing online gambling throughout its state borders. By this time, Bitcoin had already been around for four years so its users were accustomed to how it worked—making it a logical choice for transactions. By 2013, Bitcoin became the world’s most used payment method.
However, Bitcoin has its limitations due to the fact that it is still relatively new. While it has proven itself on an international scale, it is still not very common in the US—which is one of the countries where online gambling is most heavily regulated. Although Bitcoin users can avoid many of the fees associated with credit cards and banks by using services like Coinbase, there are still limitations to how much cash can be sent at once. This adds another element to online casinos: convenience versus security, regulation over anonymity.
Technology revolutionized the game of roulette when it was introduced in 2004. It was very unique at the time because it gave players a chance to play high-stakes games for just 25 cents per spin—the same as ordinary roulette, but with much lower stakes. Players had access to free slots games on every device from computers to smartphones, and were able to play from the comfort of their homes. However, what started as a simple source of entertainment became a dangerously addictive form of entertainment that needed government intervention. Gambling addiction became a very persistent problem, and a topic of intense scrutiny.
While some states have taken steps to regulate online gambling, for the most part it is still more or less unregulated. Online poker is no longer available in most American states, and the rest of the world is continuing to regulate how it handles internet gambling. The rise of mobile casinos and cryptocurrencies like Bitcoin and BitCoin Cash (BCH) means that online gambling is only going to continue growing in the future.
As technology continues to develop and become more accessible, we can expect more interaction between regulators and casinos in this new age of online gaming. Mobile casinos are easier than ever for anyone who has an internet connection or a smartphone, which means that payers can gamble from anywhere in the world. This will make it even more difficult to monitor where money comes from when it is transferred via cryptocurrency, which will likely cause problems with tracking illegal activity when it occurs.
In the end, technology will continue to shape the future of gambling, making it more accessible for everyone. While there are many reasons technology can be considered a positive force in online gaming, there is also the possibility that it will cause harm to players. If you’re someone who has concerns about playing online, there are some things you should know. First of all, if you use an online casino powered by Bitcoin or any other cryptocurrency , your money is protected against fraud. Bitcoin transactions are not reversible, which means no one can take your money even if they hack your account . This makes all transactions very secure—especially when compared to credit card transactions that offer some protection but can still leave users vulnerable if their information is stolen.
