Can Startups Change the World?
Startups. This is a term introduced recently for a - usually - dynamic and innovative company that seeks for new ways to achieve success in the business world. The word is new, but the concept is not. Companies with a fresh vision, a fresh solution to a problem have been around for quite some time. And, to answer the question in the title: yes, they can change the world. Let me show you an example: Isle of Man based company Microgaming.
The idea
Internet games have been around ever since the beginnings of the global network. People have been playing all kinds of games, including games of chance, over the internet. But their games didn't involve money. This until the mid-1990s, when a newly formed company - let's call it a startup - though of offering its users a new way to play online.
The company was called Microgaming, and the industry it has founded is known as iGaming (or real money online gaming). They combined their game development expertise and the secure online payment solution developed by CryptoLogic (another startup), they launched the first genuine online casino in 1994.
The growth
By 1996, the number of online gambling websites grew to 15. But the new service has gained a lot of popularity, and the industry started growing like crazy in the coming years. The next year saw the number of online casinos grow to 200, and this growth has continued for the next decade. And it was popular among players - according to a report, it generated revenues worth $830 million in 1998 alone. All was well until 2006, when the US introduced the Unlawful Internet Gambling Enforcement Act, which prohibited online gambling in the US. This took out hundreds of casinos instantly, and sent the industry in a massive decline for the coming year. But it has rebound - by 2008, its revenues have grown to exceed $21 billion. And it continues to grow, too. According to recent estimates, the online gambling market was worth over $41 billion in 2015.
What does an online casino look today?
Founded in 2000, the Royal Vegas Online Casino is one of the oldest such establishments in business today. It's part of the Fortune Lounge Group, an industry leader in the iGaming business. The Royal Vegas uses software provided by Microgaming, the startup that laid the basis for the whole industry. It is one of Microgaming's flagship gaming destinations, used to roll out several of its innovative products, like the mobile casino in 2004, and the first Android Wear slot machine in 2015. Millions of people from all over the world (except for the US, and some other countries with a restrictive legislation) play new online pokies at Royal Vegas each month, on desktop and mobile devices alike. They make deposits using modern, secure electronic money transfer methods, they play their favorite games on the devices they choose, and even take the casino with them in their pockets wherever they go.
What about Microgaming?
Microgaming, the startup that changed the way people play online, is still alive and kicking today. It has given up operating its own gaming destinations a long time ago - today it is one of the leading software providers for the gaming industry. Its software is used by hundreds of operators, millions of players, day after day. The company continues to explore new frontiers, taking their kind of games to the players on any device they might use.
