In 1994 one of the first software development companies Microgaming was established following the Free Trade and Processing Zone Act in Antigua. The head start was useful & Microgaming gained a real competitive advantage in the technology behind online betting & casinos. However it took 2 years before Intercasino launched the first internet casino which could accept real money wagers in October of 1996.
It wasn’t long before the burgeoning business came under the scrutiny of the authorities in America when Jon Kyl slot88 online attempted to introduce the Internet Gambling Prohibition Act which planned to make it illegal for any company to offer online gambling to any US citizen. However the bill failed to make it through congress but gave a glimpse of the industries strained relationship with the US authorities.
By 1999 there were already up to 700 online casinos offering online betting opportunities impressive given the slow uptake of the internet amongst the general public. It was also around this point the introduction of more sophisticated software from Boss Media allowed for multiplayer games with the ability for users to chat to each other. This new technology had a huge impact on the industry & really helped create an involving & social environment to gamble.
The following year was hugely significant as Cryptologic are listed on the NASDAQ exchange. The company who provided encrypted electronic payment technology were proving a success with both customers & investors. Also having plenty of success was a winner on The Sands of the Caribbean online casino won $400k at the date the largest online casino payout.
But by 2002 that had already seemed like a small win with a number of winners taking home more than a million dollars in online casino winnings. Inevitably these wins drew even more of attention from the US government who began creating a series of laws which would all but outlaw online gambling with a bill that prevented online gambling.