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Online gaming has grown in leaps and bounds in the last decade, but it is fascinating to know that the seeds of the same came about not long ago. In fact, the mere mention of online content would have drawn a major surprise three decades ago. Email was still at its infancy and dial up modems were slowly making it possible for users across the world to send and receive electronic letters. Today, online gaming has reached an impressive stage where it may completely take over from the traditional form of gaming once and for all.
Infant Stages
The first instances of online games started in the 1970s when pocket-sized games were a huge hit amongst the general public. These games provided a huge amount of entertainment whilst still being accessible by a large section of the community. It was no surprise that online games had become incredibly popular by the 1980s. Constant improvements to the technology meant [3] that the developers were able to offer better graphics and features with every year. However, it was not until the 1990s that the explosion truly started taking shape.
Online Gaming Boom
Internet started becoming a common phenomenon in the early 1990s. This led to a greater number of people working on providing online games rather than traditional options. Developers did not miss out on any niche, as everything from action to adventure was available online. Yet, this was a period when online games were in the ascendancy only on volume. The likes of PlayStation and other gaming consoles provided a superior way of gaming. Their better graphics, sound, and technology provided a wholesome gaming experience at that point. However, the popularity surrounding online games continue to remain strong due to one big advantage – cost.
The world of gaming has been brought to the table several years ago, but it was the traditional casinos – at the likes of Las Vegas – that transformed the gaming industry. It was a stepping-stone towards the online experience. Even though the traditional casinos had been around for a long time, it was not until 1994 that the first online casino opened its doors. Antigua and Barbuda were the 1st to issue licenses to such gambling institutions.
Entry of Regulations
The opening up of online casinos [4] completely changed the dynamic with regard to online games. Players no longer had to use a separate console in order to access addictive games, as they were even accessible from a browser. After the Internet boom in the 2000’s, the fledgling online casino market took off. The revenues from online gambling had touched close to $1 billion towards the end of 2000. This also resulted in a vast amount of regulations being brought into the fray. In order to protect the player’s interests, these regulations removed the possibility of scam institutions from running away with player’s money. The legitimacy provided by the regulation enabled the casino industry to flourish even further.
Organised Growth
The regulations coupled with the growing interest enabled developers like Net Entertainment and Microgaming [5] to take the industry to the next level. Games no longer offered mediocre graphics and they were on par with console gaming in terms of graphics quality. The casinos also started entering into new niches – live gaming. Developers like Evolution Gaming [6] serve names like Betway [7] with high-end gaming content that attempts to make the games as real as possible. The live dealer games are the closest a player can come close to an authentic live casino experience, as it puts an actual dealer in front of the player.
The online gambling industry has now become more than just about slot and table games. Today, it is possible for online gambling institutions to combine several facets like e-sports, fantasy sports, bingo, horseracing betting, and several more under its wing. After having been a $1 billion industry at the start of the century, online gambling is now worth upwards of $55 billion. Surprisingly, the market is yet to hit its peak, as it still has a long of untapped areas around the world. The entry of cryptocurrencies [8] is expected to provide the next big push for the industry.