Since the dawn of time, humanity has experienced gambling in some form or another, and ever since 200 BC (before Christ, if you didn’t know), there has been evidence of placing a bet. Though it is impossible to discover what really went down back in ancient times, there is proof that gambling was experienced in a lottery-based game in China. From 200 BC to 2023, the world has evolved so much that the wild and wonderful world of gambling and betting has sprouted onto our phones.
A far fetch from the drawing on wood-type methods in ancient China, we’re now able to log in and place our bets from the comfort of our home. Evidence shows that even The Great Wall of China was constructed from this lottery-type game, which was actually the reason for many state funding buildings – if only that was the case now!
Regardless of how far back you look into the history of man, the process of gathering individuals together to place a bet has been evident throughout. A huge jump from the throwing of dice or makeshift cards, the newly adopted flashy casinos stepped into play by the 1940s. From then on, the world has shifted to a virtual space, where we now conduct most things online and, in fact, work from home (thanks to Covid!) This technological advance has created a shift in the world of physical betting, and we’re going to delve into the evolution of online gambling. When did it come about? And where are we now? Take a look…
The technological early days
Ah, the 1990s, known as the “post-cold-war decade.” The world was on an up, and so was everything else. The nineties saw a lot of change, and it marked numerous infamously known cultural points in society like the first ever blockbuster to hit the $1 billion mark at the movies (Titanic, FYI) or the hip-hop scene leaving a mark in the world. Better than that, the glorious TV series Friends aired, and the 90s TV shows we all know and love followed suit.
Though those changes were memorable, the most notable advancement in this period of time was most definitely the World Wide Web – or, as we so simply put it, the Internet. Years have passed since poker players were hitting the tables back in the swanky 1940s casinos, and now online slots can count their cards on the web. People in the 1990s were gaining access to the internet, and by 1995, the first formation of online betting was born.
Encryption was first created in early 1995, which meant that a software was in place to make sure that all transactions were as safe as can be. But it was still a small amount, as anti-gambling laws across the world prevented most of this advanced technology from being used. Caribbean countries, however, were used to bypassing these laws as their regulations allowed bookmakers and casinos to stay afloat.
Sports betting soon followed the same path as online poker, and by the late 1990s, the World Series of Poker grew. The WSOP, as it is also called, then took full advantage of encryption and technology that allowed players into the online event series. This meant that a huge array of individuals was gaining access, bettering their abilities, and growing their love for poker! This new version of poker had just 839 players by the year 2003, but by 2006, it grew to 8,773 players – This alone shows the mammoth growth in that online poker made in the world, and 2023’s statistics show just this.
Technology in online betting today
The rise in online betting is all thanks to the versatility of the smartphone (Apple mostly) and the ability to get online. The numbers are big, and the gross revenue of the gambling market in the UK is the largest online market across the globe, where it exceeds $12.5 billion. The USA, however, follows close behind with a huge market of $11 billion, which is a massive growth for a trend that has only been around for almost two decades. This growth index rate is getting bigger, and it’s the biggest trend the 21st century has yet to see.
Transformative tech innovations are also thanks to this huge spur in online gaming, with Live Dealer Games now being utilized for a truly authentic experience. New tech creations mean new methods to do different things, like VR or crypto – Virtual Reality headsets are now available for the full immersive experience, and cryptocurrencies, which are virtual funds, are now making a boom in the market.
Cryptocurrencies like Ethereum or Bitcoin have affected all forms of markets, and gamblers are never shy of using this virtual fund. Online wallets now let the player make immediate transfers, deposits, and withdrawals and defeat the point of any pesky third-party processes – think safer, easier, and quicker!
Along with all of these new transformational technology-based gambling or betting platforms, there is also a new thing on the block: ESports. ESports is a new world of online sports betting, which is far fewer than anything you’ve seen before. Now, infamous Esports stars play online games, and individuals can virtually bet on their favorite racers. Though these advancements are coming thick and fast in this ever-evolving world, there will always be a place for the regular casino homes and online betting platforms. Head to Bovada if you’re looking for a trusted online casino where you can indulge in poker, sports betting, and even dabble in horse racing!
