The online gambling industry was launched in the 1990s, but it was only in the early years of the new century that online Macan Togel login had controls in place to protect players and casino owners, and therefore considered a legitimate, regulated business. Growth continues and from a value of GBP35 billion in 2019, the online casino industry is expected to be worth around GBP72 billion in 2024.
Online casinos have come a long way over the last 25 years. Initially, there were few choices and poor design. Now, there are live rooms with the feel of a real land-based casino thanks to virtual reality technology, beautifully designed slots with stunning graphics and the harnessing of the latest technology to provide the ultimate gaming experience via desktop or mobile.
The online casino business continues to grow worldwide, with reputable companies that are established and well-regulated, giving confidence to new players. Many of the brand new online casinos now use blockchain technology which offers transparency, anonymity and vastly improved cash flow.
Today, licensing authorities are located all over the world, but the most trusted are the Malta Gaming Authority, the Alderney Gambling Control Commission and the Gibraltar Gambling Commission which regulates more than 30 of the most popular online casino brands including 888casino, plus the Isle of Man Gambling Supervision Commission which is well established yet innovative, being the first to licence a blockchain lottery operator. A licence from offshore nations such as Gibraltar or Alderney can cost around GBP11,000-GBP15,000 and are popular because of low taxation.
In the UK, it has been legal to offer online casino games to players since 2005 when the Gambling Act made key amendments to existing legislation to properly regulate and licence online gambling for the first time and to ensure that players were properly protected. The Act also established the Gambling Commission, independent of government, to which online casino operators have to apply for a licence in order to accept UK players. If an online casino holds a permit from any of the licensing authorities mentioned earlier, it must still hold a licence from the UK Gambling Commission to recruit UK players.
In 2014, the Gambling (Licensing and Advertising) Act added the requirement that all operators based outside of the UK that market to UK players need a licence from the UK Gambling Commission and must pay UK taxes of 15 per cent on all profits made through offering online gambling services to UK customers. In 2018, taxes from gambling companies based in the UK and overseas yielded GBP4.9 billion to the British government from more than 2,800 licences. Add to this the cost of the licences themselves, and an annual renewal of them and the UK is able to bring in several million pounds sterling each year.