History Of Online Gambling

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History Of Online Gambling

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Progressive jackpots, themed slots, and multiplayer games were just a few of the things that really helped online casinos to grow in popularity.

However, there were some people that were reluctant to play, fearing that the online games could be manipulated in some way and would not give fair results.

Live casino games are fairly commonplace online now, but they were a major development when they first appeared. Players could actually watch live video streams of dealers and croupiers in real time, and this proved to be incredibly popular.

Today, many players much prefer to play the live games, rather than the graphic-based ones. A more recent development is the addition of mobile compatible games at many sites, meaning you can play your favorite games from your smartphone or tablet.

Again, this is something that has proved to be very popular and is a good example of how online casinos are continuing to advance.

There is little doubt that we will see even more progress over the coming years. Online sports betting began shortly after the early online casinos.

The first site was Intertops in , and others soon followed. The placing of wagers on sporting events over the internet was very popular with gamblers all around the world, and the industry took off in a big way.

A number of new companies were formed to enter the market, and most existing bookmakers opened up web-based operations to complement their existing businesses.

As with online casinos, things were very competitive. Betting sites also offered generous bonuses and free bets to new customers as a way to attract more bettors.

A number of other promotions were introduced, too, as sites tried to stand out from their competitors.

Things like enhanced odds and cash back offers became commonplace, and the range of different wagers that were available greatly increased, too.

In , a new betting site called Betfair opened up. Unlike all the other betting sites at the time, Betfair itself did not take bets from customers, but instead allowed customers to place bets between themselves.

Peer to peer betting was incredibly popular almost immediately, and remains so to this day. It became known as exchange betting, and several other companies subsequently launched similar sites, although Betfair dominated this particular market.

Live betting was introduced for the first time in , allowing bettors to place wagers on a sporting event while it was taking place.

This was another major development and also an instant success. The vast majority of betting sites went on to offer a live betting service, and these days you can bet on a massive range of sporting events while watching the action.

Mobile betting is also available at most of the big sites, making it possible to place wagers using a phone, tablet, or other mobile device.

Placing wagers online is easy and convenient and offers many other advantages over more traditional betting. On January 1st, , a new site called Planet Poker became the first to offer online poker.

The site soon started attracting players, despite frequent technical problems and issues caused by the speed and unreliability of dial-up internet.

Interestingly, though, the rake levels set by this site are still the industry standard today. Paradise Poker started out in the following year, and it was more advanced and more stable than Planet Poker.

It experienced fast growth as a result. The following year, poker professional Dutch Boyd launched his new site, Poker Spot.

This was the first site to offer online tournaments, but suffered numerous problems with processing customer payments and lasted only until Two new poker sites that were to become giants in the industry opened up in PartyPoker and PokerStars.

Paradise Poker was still the front-runner, but these other two sites quickly became serious players. PartyPoker began running tournaments that offered qualification to live events, and these proved to be particularly popular.

Another site, UltimateBet, was also making a name for itself at the time. Televised poker was attracting larger audiences, perhaps due to the introduction of card cameras that showed the hole cards of players, and PartyPoker started advertising heavily on these shows.

The advertising worked, and they became the largest poker site. PokerStars was not too far behind, and they improved their standings with the launch of the World Championship of Online Poker.

Suddenly everyone dreamed of winning big money, and the popularity of online poker increased dramatically. The following year, another site that was to become a major player opened: Full Tilt Poker.

Online poker was popular all over the world, but nowhere more than in the United States. Gambling has come a long way since Ancient Egypt, with the online gambling world continuously growing in and beyond.

Join the rich history of gambling by trying one of our recommended sites, offering benefits that include:. They then spread through Asia, and Mahjong tiles and dominos evolving later.

Playing cards then traveled to Egypt and ultimately Europe in the 14th century, with a card deck becoming standard at that time as well.

By the 18th century, European lords were filling gambling dens playing games like the French game, Vingt et Un, an early form of Blackjack.

The British, French, and Italians then developed what is now known as Poker. Both games, as well as Roulette, became popular in America when the early settlers arrived.

With settlers arriving from all over the world, playing a wild array of card games, dice and roulette in saloons and bars, and on riverboats across the United States, the games became part of the American psyche during the 19th and 20th centuries.

Today many of the established games played in live and online casinos originated from those early pioneers. The first slot machine was developed in the late s, with three spinning reels and five symbols.

Gamblers quickly saw the benefits of such machines, and they were being mass produced for saloons and corner markets in the early s.

As brick-and-mortar casinos became more and more popular, the range of games expanded, offering both traditional table and card games to the new slot machines, and casinos became what they are today - billion dollar businesses.

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Initially, these websites gave punters huge bonuses and cash back offers as an incentive to gamble online. As the market has matured these deals have gradually decreased.

However, the modern online gambling climate is still very much a Mecca for bonuses if you know where to look and fortunately we do. Another interesting trend in online sports betting developed in the year after Betfair entered the market.

This internet gambling site took sports betting to a new level with the invention of peer-to-peer wagering.

Almost unique in the industry, this system basically allowed players to make bets between themselves while the site took commission from each wager.

Two years after the formation of Betfair, in-play sports betting provided the online industry with another boom.

Taking internet technology to its limits, live sports betting has proven to be immensely popular and one of the most exciting new sports wagering option on the market today thanks to its compatibility with both desktop and mobile devices.

Planet Poker is generally considered to have been the first online gambling site to offer poker. Unfortunately, the site was plagued by a number of technical problems and other glitches.

Back in those days, a large number of people were still using dial-up internet services, which created a number of speed and downloading issues.

However, the failure of Planet Poker led to the rise of new poker sites such as Paradise Poker, partypoker and, eventually, PokerStars. Paradise was launched in from a base in Costa Rica and quickly became the biggest player in the market.

Thanks to a more advanced platform than Planet Poker, Paradise was able to cram thousands of players onto its platform on a daily basis. Partypoker and Poker Stars were formed just two years after Paradise Poker in and soon became the top two internet gambling sites in the world.

In fact PokerStars is partly responsible for the global poker boom thanks to its online tournament satellites. Although online poker was hugely popular in the United States, Congressional lawmakers decided to pull the rug out from under players in This move led to a huge amount of confusion regarding the legality of not only internet poker, but also online gambling within the US in general.

Many poker and other online gambling sites were forced to shut down or else close their doors to US players. The really interesting thing about the UIGEA is the fact that it didn't actually make gambling online illegal.

Instead, it attacked the payment processing companies, making it illegal to process payments for gambling activities for anyone residing in the US.

Unfortunately, this led to a lot of confusion and many sites and online gambling businesses saw this as a big gray area. Many of the major sites decided to stop doing business with US customers, devastating their revenues in a number of cases.

Several sites did try to stick it out and continued accepting US players. Sadly, in , the US government cracked down and seized their websites, essentially shutting these three and other companies down to anyone residing in the US.

This event became known as 'Black Friday' in the online poker community. Although legal online poker is still a gray area in the US, there is some hope for the future.

A number of legislators have begun attempting to reinterpret the legal foundations upon which the UIGEA was based. Such regulation generally leads to gambling tourism and illegal gambling in the areas where it is not allowed.

The involvement of governments, through regulation and taxation, has led to a close connection between many governments and gaming organizations, where legal gambling provides significant government revenue, such as in Monaco and Macau, China.

There is generally legislation requiring that gaming devices be statistically random , to prevent manufacturers from making some high-payoff results impossible.

Since these high payoffs have very low probability , a house bias can quite easily be missed unless the devices are checked carefully.

Most jurisdictions that allow gambling require participants to be above a certain age. In some jurisdictions, the gambling age differs depending on the type of gambling.

For example, in many American states one must be over 21 to enter a casino, but may buy a lottery ticket after turning Because contracts of insurance have many features in common with wagers, insurance contracts are often distinguished in law as agreements in which either party has an interest in the "bet-upon" outcome beyond the specific financial terms.

Nonetheless, both insurance and gambling contracts are typically considered aleatory contracts under most legal systems, though they are subject to different types of regulation.

Under common law , particularly English Law English unjust enrichment , a gambling contract may not give a casino bona fide purchaser status, permitting the recovery of stolen funds in some situations.

In Lipkin Gorman v Karpnale Ltd , where a solicitor used stolen funds to gamble at a casino, the House of Lords overruled the High Court's previous verdict, adjudicating that the casino return the stolen funds less those subject to any change of position defence.

Law precedents are somewhat similar. An interesting question is what happens when the person trying to make recovery is the gambler's spouse, and the money or property lost was either the spouse's, or was community property.

Hotel Del Rio. Ancient Hindu poems like the Gambler's Lament and the Mahabharata testify to the popularity of gambling among ancient Indians.

Ancient Jewish authorities frowned on gambling, even disqualifying professional gamblers from testifying in court. The Catholic Church holds the position that there is no moral impediment to gambling, so long as it is fair, all bettors have a reasonable chance of winning, there is no fraud involved, and the parties involved do not have actual knowledge of the outcome of the bet unless they have disclosed this knowledge , [25] and as long as the following conditions are met: the gambler can afford to lose the bet, and stops when the limit is reached, and the motivation is entertainment and not personal gain leading to the "love of money" [26] or making a living.

Thomas Aquinas wrote that gambling should be especially forbidden where the losing bettor is underage or otherwise not able to consent to the transaction.

For these social and religious reasons, most legal jurisdictions limit gambling, as advocated by Pascal. Gambling views among Protestants vary, with some either discouraging or forbidding their members from participation in gambling.

Methodists , in accordance with the doctrine of outward holiness , oppose gambling which they believe is a sin that feeds on greed; examples are the United Methodist Church , [34] the Free Methodist Church , [35] the Evangelical Wesleyan Church , [36] the Salvation Army , [37] and the Church of the Nazarene.

The Arabic terminology for gambling is Maisir. They ask you about intoxicants and gambling. Say: 'In them both lies grave sin, though some benefit, to mankind.

But their sin is more grave than their benefit. While almost any game can be played for money, and any game typically played for money can also be played just for fun, some games are generally offered in a casino setting.

Gambling games that take place outside of casinos include Bingo as played in the US and UK , dead pool , lotteries , pull-tab games and scratchcards , and Mahjong.

Fixed-odds betting and Parimutuel betting frequently occur at many types of sporting events, and political elections.

In addition many bookmakers offer fixed odds on a number of non-sports related outcomes, for example the direction and extent of movement of various financial indices , the winner of television competitions such as Big Brother , and election results.

One of the most widespread forms of gambling involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools, or bookmakers may take bets personally.

Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.

Betting on team sports has become an important service industry in many countries. For example, millions of people play the football pools every week in the United Kingdom.

In addition to organized sports betting, both legal and illegal, there are many side-betting games played by casual groups of spectators, such as NCAA Basketball Tournament Bracket Pools, Super Bowl Squares, Fantasy Sports Leagues with monetary entry fees and winnings, and in-person spectator games like Moundball.

Based on Sports Betting, Virtual Sports are fantasy and never played sports events made by software that can be played every time without wondering about external things like weather conditions.

Arbitrage betting is a theoretically risk-free betting system in which every outcome of an event is bet upon so that a known profit will be made by the bettor upon completion of the event, regardless of the outcome.

Arbitrage betting is a combination of the ancient art of arbitrage trading and gambling, which has been made possible by the large numbers of bookmakers in the marketplace, creating occasional opportunities for arbitrage.

One can also bet with another person that a statement is true or false, or that a specified event will happen a "back bet" or will not happen a "lay bet" within a specified time.

This occurs in particular when two people have opposing but strongly held views on truth or events. Not only do the parties hope to gain from the bet, they place the bet also to demonstrate their certainty about the issue.

Some means of determining the issue at stake must exist. Sometimes the amount bet remains nominal, demonstrating the outcome as one of principle rather than of financial importance.

Betting exchanges allow consumers to both back and lay at odds of their choice. Similar in some ways to a stock exchange, a bettor may want to back a horse hoping it will win or lay a horse hoping it will lose, effectively acting as bookmaker.

Spread betting allows gamblers to wagering on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome.

For example, a wager can be based on the when a point is scored in the game in minutes and each minute away from the prediction increases or reduces the payout.

Many betting systems have been created in an attempt to "beat the house" but no system can make a mathematically unprofitable bet in terms of expected value profitable over time.

Widely used systems include:. Many risk-return choices are sometimes referred to colloquially as "gambling. Investments are also usually not considered gambling, although some investments can involve significant risk.

Examples of investments include stocks , bonds and real estate. Starting a business can also be considered a form of investment.

Investments are generally not considered gambling when they meet the following criteria:. Some speculative investment activities are particularly risky, but are sometimes perceived to be different from gambling:.

Studies show that though many people participate in gambling as a form of recreation or even as a means to gain an income, gambling, like any behavior that involves variation in brain chemistry , can become a harmful, behavioral addiction.

Behavioral addiction can occur with all the negative consequences in a person's life minus the physical issues faced by people who compulsively engage in drug and alcohol abuse.

The Russian writer and problem gambler Fyodor Dostoevsky portrays in his novella The Gambler the psychological implications of gambling and how gambling can affect gamblers.

He also associates gambling and the idea of " getting rich quick ", suggesting that Russians may have a particular affinity for gambling. Dostoevsky shows the effect of betting money for the chance of gaining more in 19th-century Europe.

The association between Russians and gambling has fed legends of the origins of Russian roulette. There are many symptoms and reasons for gambling.

Gamblers gamble more money to try to win back money that they have lost and some gamble to relieve feelings of helplessness and anxiety.

In the United Kingdom, the Advertising Standards Authority has censured several betting firms for advertisements disguised as news articles suggesting falsely a person had cleared debts and paid for medical expenses by online gambling.

The firms face possible fines. Gamblers exhibit a number of cognitive and motivational biases that distort the perceived odds of events and that influence their preferences for gambles.

From Wikipedia, the free encyclopedia. Wagering of money on a game of chance or event with an uncertain outcome.

For other uses, see Gamble disambiguation , Betting disambiguation , and Bets disambiguation. Main article: Gambling in the United States.

Main article: Gambling law. Main article: Table game. Main article: Fixed-odds betting. Main article: Parimutuel betting.

Main article: Sports betting. Main article: Virtual sports. Main article: Arbitrage betting. Main article: Betting strategy. This section possibly contains original research.

Please improve it by verifying the claims made and adding inline citations. Statements consisting only of original research should be removed.

August Learn how and when to remove this template message. Main article: Problem gambling.

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