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The history of online gambling is not a long and mysterious one, although there have been a few scandals in its time. Rather, the history of online gambling is quite short (starting in the 1990's) and explosive. Internet betting has become a multi-billion dollar industry in a very short time - still continuing to grow in its fiscal rise. Online gambling happened so fast, that as it became a reality, the largest and most successful companies in the industry were just being formed - and scrambling to do so. The catalyst for this scramble happened in 1994, when the government of the Caribbean island, Antigua Barbuda, passed the law that enables online casinos to operate from their homeland to this day - the Free Trade and Processing Zone Act.
With the technological possibility of online gambling already in the air, this new law made it legal to license and operate online casinos from the Antigua Barbuda jurisdiction. Of those who saw this as the lucrative opportunity that it was - two brothers - Andrew and Mark Rivkin - formed the company Cryptologic, and began creating software solutions to safely handle financial transactions with unprecedented encryption designs. At the same time, both Microgaming and Starnet Communications were formed - all in the same year Antigua Barbuda passed its groundbreaking law.