History About Casinos(Part 2)

5 min readOct 29, 2021

For those who haven’t read the part 1 of “History about Casinos” please go to the link below.

https://medium.com/@SUNRISE_GAMING_by_DAO/history-about-casinos-part-1-85ca2a251c57

The Rise of Online Casinos

Like casinos, online casinos have had a long and winding history due to laws and regulations before they were recognized in various countries.

The current popularity of online casinos dates all the way back to 1994, when Antigua and Barbuda (Countries that are also a member of the British Commonwealth) passed a law allowing the operation of online casinos and the issuance of licenses. Then, in 1996, the world’s first online casino site called “InterCasino” was born. This site was licensed to operate an online casino in Malta in 2007, and is still a popular casino in operation as of 2021.

At one point in time, it was thought that online casinos would be a new type of online content that would spread worldwide. However, due to complex international regulations, online casinos have been plagued with taxation and operational problems that have not been experienced with offline casinos.

In particular, due to the nature of online casinos, an unspecified number of operators and an unknown number of users are involved, and the opaque movement of funds has led to problems with taxation. Delays in withdrawals as well as some sites even going as far to be malicious has made it become a breeding ground for fraud and bookies.

Of course, there was a movement to try to change this horrifying situation. In 2003, an organization called eCOGRA was founded to regulate and guarantee e-commerce online games. This organization, eCOGRA, is a non-profit organization (NPO) that has created standards for online casinos from a third-party and fair perspective. As an impartial third-party organization, they control and monitor over 100 casino sites, and their criteria is very detailed and rigorous. Even now, it seems obvious that this eCOGRA approval provides users with an important criterion regarding safety and fairness.

Despite the various problems that have arisen, it is no exaggeration to say that online casinos have exploded in popularity in the United States and all around the world, due to the aforementioned measures taken by organizations such as eCOGRA.

Although the United States of America was late to the scene, it seems to appear that the U.S.A. have a better understanding of online casinos compared to other European countries, but unfortunately on September 30, 2006, the U.S. Congress passed a bill that would make it illegal for banks and credit card companies to allow U.S. residents to do business with online casino organizations. The bill was added to a completely unrelated port security bill and just before it was introduced, it was enacted by then President George W. Bush on October 13, 2006.

The market reaction was very fast after that, and online casino-related stock prices plummeted, leading to a very difficult situation.

Why are casino games so simple, yet have been loved and enthusiastically played by so many people for so long?

The reason for this is that the gameplay is extremely simple and straightforward. It utilizes the gamification of “human beings,” which is essentially a game of players fighting each other or the dealer, and most importantly it brings out the “passionate emotions” that many people cannot resist.

In addition, casino games reflect the absolute value of money in modern society, which is either you gain “profit” or you sustain a “loss”. However, as human beings, when we win, we want to taste it again, and when we lose, we want to get it back.

The nature of gambling is very simple and clear without thinking about it, but it is also an irresistible feeling. The system of casino games makes great use of these feelings.

When people experience large movements of emotions, such as dopamine highs, they feel a sense of accomplishment similar to a narcotic effect. Casino games have been said to have the perfect balance of not getting in the way of people’s emotions while still being able to maintain enthusiasm for the games.

This is because casino games and other mechanisms can be said to funnel “people” and “their emotions”.

Casinos do not need developers to keep adding new content or games. The fact that it is a universal entertainment is the reason why it has been loved and enthused by many players for a very long time.

About SUNRISE GAMING

We plan to change all this by having a decentralized management run casino where most of the important decisions will be done through a vote, and also by giving transparency to the casino games we will believe that the true model of the casinos games becoming important again will be the answer for gambling.

For other inquires

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