The casino industry is a thriving industry and it maintained a great number in terms of customers ever since because of the loosened policies the government imposed to casino operators in the country which provides a more liberation for gamblers to access to land-based casinos and its rival, the online casinos, which results to a more vibrant industry because of its accessibility to gamblers from all walks of life.
Because of the accessibility of online casinos through the technology brought by handheld devices such as phones, tablets, and laptops, a lot of recreational players who used to play online mobile games have tried and are hooked up to online casino gaming because of advertising and the normalization of the gambling industry in the country. The industry thrives more because of this new market where the operators and online casino software developers can draw more and more clients.
Here is a brief overview of how the gambling industry started to rise.
A bill was passed in 1960 to allow commercial bingo halls to be set up around and eight years later, on 1968, the Gaming Act of 1968 was passed which allowed commercial casinos to operate by providing licenses that have certain terms and conditions under the law.
The birth of online casino gaming was born in 1996 where a convincing number of gamblers tried shifting their gambling habits from land-based casinos to online casinos by visiting online casino centers by using desktop computers as its platform gaming.
The following year, Slot888 was launched, it was the first fully functional online casino website that is fully accessible through the internet unlike its predecessors where it was programmed and can be accessed offline.
The Gambling commission formed a regulating body in the same year to monitor those new casino operators that opened up small-scale casinos. A white list of approved offshore online casinos was allowed to operate and advertise under the act.
In 2007, under the gambling laws, membership was no longer required for land-based casinos in order for the land-based casino operators to survive from its surging popularity because of the rise of online casinos.
The online casino industry eventually became a full-blown trend to the majority of gamblers.
Because of this, gambling firms remaining were taxed fifteen percent of its gross profits at the source; for example is consumers are based not the companies.
This leads to many overseas-based online casinos leaving market while critics call the move a tax-grabbing exercise.