The gambling scene is not quite the Wild West that it was a decade before. For starters, people are shifting more and more towards the online casino gambling industry, but it is still finding its place in the world of legalized gambling over the internet. Several regulations have been put into place to make sure that the safety of both the player and the casino is put into a top priority. However, unexpected things still occur on a regular basis.
Here are four interesting facts you may not have known about online gambling.
It’s Legal Depending on Where You Live
The legality of gambling in the world is different in different cases. Its legality depends heavily on whether the country has a history of gambling and the religion associated with the country. It is legal in some countries, technically illegal in some other countries, but is usually not prosecuted unless it becomes a seriously big operation. There are even countries where gambling is allowed in certain cities, but illegal in the rest. So it is safe to say that the legality of online casinos is much more complex and falls into a legal grey area since most countries have no laws pertaining to online casinos.
The First Online Casino Hit the Web in 1994
It seems difficult to believe that online casinos have been around for more than a quarter of a century, but it is, in fact, true. Developed by Microgaming, the first online casino came up just about 100 years after the first slot machines began making their way onto the casino floor.
The Biggest Win Ever
Billions of dollars have been exchanged between players and casinos since online casinos started back in 1994. But one win ranks above them all combined. An anonymous man playing on a Microgaming site won more than 21.7 million dollars playing a progressive slot game jackpot. Their initial bet was allegedly just 75 cents.
Cryptocurrency Is Growing in Popularity
Cryptocurrency is increasingly becoming one of the most favourite ways to conduct online business, even though it might not fall under what would typically be called 100% legal. That being said, there are several practical reasons as to why cryptocurrencies can be useful for online gamblers as long as they operate entirely within the bounds of the law. Gamblers love cryptocurrency because it makes their transactions anonymous and because it takes banks and their scrutinizing monitoring systems out of the picture. Today, almost every major online gambling platform accepts bitcoin, along with some other cryptocurrencies, as adequate payment.
Online, But Not Fully Digital
For the most part, online casinos are just some graphics and an algorithm that determines who wins and loses. However, because of the lack of transparency, people often complain that the house is rigged. This is most often not the case, but it is indeed hard to tell. So online casinos use live dealers to make it look as convincing as possible.