Gambling companies started occupying the worldwide web almost immediately after its introduction. A pioneer in the field of online gambling is Playtech Company launched an online casino, Europa Casino, in 1996. A year later, in 1997, the first virtual bookmaker was called into existence, revealing the shareholders of major companies a new vision of the virtual marketplace. In the next few years, the gambling software company began adapting existing products and creating entirely new concepts. The segment started gaining popularity at a railway speed.
In 1998, among gambling establishments arose the concept of progressive jackpot, which also contributed to the rapid growth in popularity. Progressive jackpot is comprised of myriads tiny proportions of funds spent by players, accumulated in one account and formed into a single impressive prize. The rewards system instantly won success, and the huge amount of potential gains that went on the mouth of gamblers all over the world have become a great advertising tool for online gambling.
In 1999, to the already successful and world-renowned manufacturers Microgaming, Cryptologic and Starnet Communications has joined the newly formed company Playtech and almost immediately rose to the strongest level of market participants. Trying to win the biggest share of the newest market, manufacturers have entered into serious struggle for supremacy, constantly developing and improving its aspiration segment. Ros range, increases the maximum prizes and continuously improved the playing field for ordinary users. So, in 2001, the maximum gain was 414 $ 119, and a year later one of the lucky players won $ 1.5 million.
- Internet casinos offer a way larger percentage of payments to players than the best casinos in Las Vegas.
- The largest prize won at a virtual casino club was 15,000,000 EUR. A Finnish citizen from Helskinki hit the jackpot in PAF casino.
- The legislative prohibition of gambling in Russia has deprived the state of reportedly 2bn. cash payments to the budget, and the people continued to play freely in their favorite rooms that moved to offshorezones.
- The title ‘eCOGRA Fair and Safe’ is granted only to the best gambling establishments; it ensures the integrity and security of the virtual club.
- DGFEV, a German gambling review and statistics center, predicts a 3 times turnover growth of the industry by 2022.
Privacy and Security
Of course, in a completely new segment of gambling lacked any legislative framework and, consequently, the first time gamblers could only rely on the honesty and integrity of the manufacturer. The situation changed in 2003, when the eCOGRA Company was created, a profit organization dedicated to the verification and certification of gambling establishments, as well as the protection of customers of online casinos. The appearance of the defense institution that cares about the interests of the users has boosted the initiative to stick to safe gambling in all the major manufacturers of the world. In addition to the company’s guarantee of honesty some eCOGRA casinos cooperate with auditor PricewaterhouseCoopers, which is the fourth greatest audit company on the planet.