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Online casino is a derivation of the land-based traditional
casino, also known as virtual casinos or gambling sites and
providing diverse games or a single one depending on the website
operation, franchise, etc. The online casino offers generally
better odds than land-based casinos for games such as slot
machines where the chances of winning are regulated by the
house, the so-called house advantage.
On August 18, 1995 the world's first online casino debuted,
Internet Casinos, Inc. (ICI) operating with 18 different casino
games and for the first time offering also online access to the
National Indian Lottery. However, since the early days ICI
operates out of the Turks and Caicos Islands, outside the United
States to avoid government prosecution.
Also, in the mid 90's, two other online casino's made their
debut claiming to be the first; The Gaming Club and Intertops
casino and sports book, which in fact launched the first online
sports book before Internet Casinos, Inc.. Building a reputable
service with reliable payouts, high security, efficient customer
support, and serving a large number of customers excited with
this new gambling modality, the online casino succeeded.
The spring of 1996 brought into the gambling scene a second
sports book planning to launch an online casino as they did. The
Interactive Gaming & Communications Corp. (SBET), soon becoming
a publicly traded company listed on NASDAQ. The financial
success of this online casino is not only the internet, but also
the acceptance of bettors' sports wagers via telephone calls to
Antigua on a toll free line via satellite.
Due the American gambling laws of regulations, the online casino
industry has been developed mainly from the Caribbean Islands
nations, as well as from Asian and European countries where even
governments have also entered the business holding their own
gambling sites, like Liechtenstein's government operating an
online international lottery, not only in German but in six
different languages to drive international traffic.
Atlantis, was the first online casino based in Great Britain and
licensed by the Isle of Man, an inspirational fact that made Sol
Kerzner, its owner, develop a new concept in online gambling;
the thematic online casino.
Today, this online
casino has become one of a kind offering from five-figure
slots payouts and progressives, offering free trips to Atlantis,
the Paradise Island in Bahamas, and property of Mr. Kerzner.
Atlantis was also the first casino recognizing the importance of
players introducing the VIP program, exclusive for London Club's
Members.
According to Rolling Good Times Online, a popular gambling
magazine, currently there are 452 gambling-related sites on the
internet with thousands of subsidiaries, affiliates, franchises
and co-branded sites, and the overall market for online gambling
is estimated at approximately $49 billion worldwide on average.
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