The History of Online Gambling
Online Gambling has grown to become one of the fastest growing industries in the world. There are millions of people who gamble on various platforms every day. Many countries have strict laws on gambling. Some countries make it illegal to play online. But the US, Canada and a few other nations in the Caribbean and the European Union have legalized it.
The history of Online Gambling began in the late 1990s when more and more people accessed the Internet. As a result, more and more sites were created. By the early 2000s, there were more than 150 gambling sites in the U.S. and 8 million participants.
While the law did not go into effect until 2005, it was not long before the federal government took a tough stance against Internet gaming. In 1999, a bill was introduced in the US Senate. It was called the Internet Gambling Prohibition Act. This bill would have banned the activity in the United States.
Later in 2006, the Department of Justice announced that the Wire Act would apply to all forms of Internet gambling. However, the interpretation of the act was in doubt. A number of companies were found to be using fraudulent techniques to circumvent the law.
In May of 2018, a court case in New Jersey came to a head. Several online poker companies had been accused of violating the law. One of the biggest names in the industry was Partypoker, which was indicted for money laundering and alleged to be a conduit for fraud.