All about casinos
Gambling is an activity which is prevalent in all circles of society around the world and has a cultural background dating up to the Stone Age in 3000 BC. Gambling has evolved with the growing civilisations and transformed itself from a mere act of entertainment to a hardcore money-making business setup. This corporate revolution in gambling came into existence after the establishment of gaming houses known as casinos in Italy during the 18th century. The governments around the world understood that betting as an activity should either be banned as it made people invest less in the economy or impose heavy taxes on it, so the balance is maintained. As mentioned in a report by The Business Research Company, the global gambling market will reach 565 Billion U.S. dollars by 2022, given its current growth rate of 6% per annum.
The first casinos were built in Italy in the early 1600s, and these were one of the infamous establishments of their time. The word casino is extracted from the Italian word ‘casa’ which translates to ‘house’. These casinos were known to be a place where people gambled their money, engaged in prostitution and took part in other notorious activities. After the great depression in the early 1900s, the United States of America gave birth to one of the biggest gambling cities in the world, Las Vegas. Situated in the middle of a vast desert and mountainous terrain, this metropolitan area in Nevada became the symbol of casinos for the entire world.
The world of online gambling is estimated to be worth US$ 40 billion globally. It all began in the 1990s with the invention of the World Wide Web, and it was all the gambling industry needed to find a new premise to work on. Online lotteries were the first to make a mark on this new market followed by poker, casinos, bingo, horseracing and sports betting. Which advancements in technology and mass production of portable gadgets like mobile phones, laptops, smartphones and similar devices, online gambling had a new set of prospective clients who were ready to bet. Although by the end of the 2000s most countries had made rules, whether to allow online gambling or not, with some leaving it in a grey area, open to interpretation.