VIP Casinos Lounge

The history of the Internet gambling industry is not very long. In fact, it starts only in 1990’s. But it has been rapidly growing for the last almost 16 years. Online casino business is one of the most profitable one in the Internet space because of its high popularity with online users. Due to online casinos accepting US players the Internet gambling has become the industry of many billion dollars in a very short time and still continues to grow. The development of business of casino for USA players began in 1994 when the Government of the Caribbean islands, Antigua and Barbuda, issued a law that allowed online casinos to work in organizations registered in the offshore zone.

While the Internet has been developing and technical possibilities foronline casino for US citizens have been appearing, this idea has already wandered in the air. New opportunities have been made legally relevant to license and operate online casinos from Antigua and Barbuda jurisdiction. Two of those who considered it as an opportunity to get a good profit were brothers – Andrew and Mark Rivkin. They created the company Cryptologic which have been developing software for online casino for US players. At the same time the companies Microgaming and Starnet Communications were created by jurisdiction of Antigua and Barbuda as well.
The development of the industry also brought to the formation of the Kahnawake – the commission which was formed to regulate online casinos accepting us players and prescribe standards of justice. The Microgaming and Cryptologic were the first ones who created the completely full software that supports accounting of online players. In the end of 1996, Cryptologic with the assistance of their affiliate the WagerLogic released the first software package.

Hereby, the multimillion industry had appeared to become the one of many billion dollars soon. Shortly after the Cryptologic had begun to receive income from online gambling business, the company Boss Media started to control their game server from Antigua and Barbuda. At the same time the Starnet System International began to provide online casino operators who had customized software packages with licenses. By turn, the Starnet required that casinos paid the company a part of their income. Later the software manufacturer apparently used this money to sponsor own online gambling business.

The next year, the industry was noted by prompt development of Internet casinos and by the end of 1998 the business obtained annual revenues of 835 million dollars. American players made up a large part of the income. Discover more on www.jackpotcapital.com.