For several thousands of years, gambling was something that humans undoubtedly enjoyed, as many historical records show, however it was also something that wasn’t very well regulated at all, with most gambling activity going on in shady bars and taverns. In fact, it wasn’t until the 16th century that the world saw its first genuine casino arrive when the Venetian authorities decided to build one to help with the harvest celebrations.
Since then laws and regulations have become a lot more commonplace within the world of gambling and nowadays regulated gambling far outweighs the illegal, unregulated kind. One of the main gambling games to get covered by an assortment of laws and regulations was the slots, in particular online slots – try Twin Spin. It should come as no surprise that this was the case considering their monumental popularity either. Read on for some slot regulations and laws across the world.
The modern online slots industry actually owes quite a lot to Australia, because if it wasn’t for Eyecon, an Australian online slot developer, the industry may not have exploded in popularity the way it has done. This is because Eyecon is widely regarded as being the first developer to release a commercially viable online slot game, with Temple Of Isis in the very early 2000s.
For this reason, Australia has always had a fantastic relationship with the online slots industry, something that has led to the country having one of the largest gambling spends per capita in the world. Now, this simply would not be possible without some flexible slot regulations and laws, with Australia often being touted as one of the best countries to live in if you love gambling via online slots.
The UK has been a leader in the fields of technology for a long time now. For this reason, it may not have been too surprising to learn that the UK government was one of the first global entities to realize the outrageous potential of the online casino industry, passing The Gambling Act 2005 in the mid-2000s. This new bill allowed for much more advertising, however, it did mean that online slot providers had to satisfy a set of strict regulations. This has gone too far with playing online slot games on mobile phones. Till now, it has shown a steeped growth and is expected to follow the same path.
At first, people were worried that these regulations would stifle the online casino industry. However, the casino industry turns out the exact opposite has actually happened. There is now so much more trust in online casino developers and providers, and The Gambling Act 2005 also meant that developers were obliged to disclose information about their slot games such as RTP.
United States of America
If it wasn’t for the US online slots probably would not exist, as it was a Californian engineer called Charles D. Fey who set the blueprint for slot machines all the way back in the late 1800s. Moreover, it would remain to be seen whether or not as many people would be playing slots if it wasn’t for Las Vegas and its cultural importance throughout the 20th century.
Surprisingly, however, US online slots regulations have historically been quite messy and confusing. This is because of the distinction between federal and state law.