Considering how much money is in the global gambling industry, it can be quite surprising to find out that it is a sphere that wasn’t really regulated at all until at least the 16th Century. It is funny that, because nowadays in the 21st Century the gambling industry is one of the most heavily regulated in the world, to the point where it is pretty much still illegal in so many countries, or at least regulated to a point that it becomes stifled. But, if you go back to the time before Venice’s “Casino di Venezia” there weren’t any genuine gambling establishments anywhere in the world, with the practise instead taking place in the dimly lit corners of shady taverns and bars. Now, this wasn’t the worst thing in the world of course, however it did leave the gambling world open to criminal activity amongst other things, one of the main reasons why we have regulations today.
The “Casino di Venezia” began the regulation of the gambling market, with the Venetian council opting to create the world’s first casino in order to be able to control it more closely. Other countries in Europe quickly followed suit, until there were countless casinos littered across the continent. By the 19th Century these places had also fallen out of favour, and gambling was banned in most places – something that led to the development of Monte Carlo as a gambling hotspot. It was also at the end of the 19th Century that slots machines were created in America, mainly because of the good work done by a man named Charles D. Fey. These were illegal for the first few decades of their existence, until they were eventually legalised (albeit with lots of restrictions) in the early 20th Century. Ever since then slots at www.slotsbaby.com have been subject to some pretty strict regulations and laws all across the world. Read ahead for a summary of some of these.
The UK was actually one of the first places to properly open their eyes to the potential of the impending online casino boom, something that many other governments were a little too suspicious of at first to take full advantage of. Not so in the United Kingdom, however, as The Gambling Act 2005 was passed not long into the 21st Century, something that changed the face of online casino not just in the UK, but rest of the world as well. It wasn’t all plain sailing however, and in actuality casino providers and gamblers were quite scared of The Gambling Act 2005 at first, thinking that if anything it would take more freedom away. Funnily enough in an ironic turn of fate the opposite turned out to be true, as this set of regulations allowed the online slots industry in the UK to expand at a much faster rate than in other places.
The Gambling Act 2005 was instrumental for a number of reasons, but perhaps the main one was that it gave a successful blueprint on how to avert the influence of organised crime within online slots, and also how to successfully protect gamblers without infringing on their sense of fun in the process. For example, because of The Gambling Act 2005 developers must disclose the RTP of their slots, something that isn’t necessary in some other places, and can be a great help when choosing what slot game to play. The Gambling Act 2005 also paved the way for a lot more advertising about online slots, something that undeniably helped the industry flower in those early years. So there you have it: regulations don’t always have to be a bad thing!
United States of America
Oh, the USA – birth place of slot machines, and a country with an outrageously rich gambling history, especially in places such as Las Vegas. In fact, during the 20th Century America pretty much set the standard when it comes to gambling, especially in the realm of slot machines, where they pioneered various things like progressive jackpot slot machines. It may look all rosy from the outside, but gambling and the US state haven’t had the most friendly of relationships over the years, with gambling as a whole actually being completely outlawed at the start of the 20th Century. Of course this didn’t last too long, especially when the federal government realised how much money they could make off of the practise. This also started the long running tension between federal and state gambling regulations, something that still exists today as we will see.
It certainly is a complicated dynamic in America. For example, whilst gamblers can still spin the reels legally on slot machines across the country, it is a slightly different story online, where the laws and regulations can be slightly less clear. In recent years it seems as though America has taken a leaf out of the UK’s book, with online slots being a lot less demonised than before. However, it is still a difficult situation, mainly because of the complicated ways in which US governmental laws work on a state and federal level. This can confuse things, hence why US online gambling regulations can often be quite slow to adapt.
Eyecon, an Australian online slot developer studio based in Brisbane, are widely regarded to have created the world’s first commercially viable online slot game Temple Of Isis, so it should come as no surprise that online slot gambling in Australia is incredibly popular. One of the main reasons for this is that their regulations closely resemble that of the UK, meaning that gamblers can spin those reels to their hearts content.
In fact, Australia are the leaders in gambling spend per capita, and the vast majority of this is done on online slots too. Funnily enough then, it is actually the countries that have the most regulations that end up being the best for the online slot world as a whole. You may not have thought it, but it’s true!