What is Gambling? Millions of people are making money from the form of betting on online casino, and they probably know little about this topic. In today’s article, Vaobo88 will help readers understand the concept of what online casino is, the history of the gambling industry. At the same time, the negative aspects and positive contributions of the Gamble industry to the global economy will be analyzed in detail.
What is Gambling?
Gambling or Gamble is an English term used to describe the form of betting/gambling – one of the hottest ways to make money online in the past decade. In the past, people could only go directly to casinos to participate in gambling. However, with the strong development of technology, a series of large enterprises have spent billions of dollars to bring the gambling industry onto the online platform. 
In Vietnam, gamblers can go to Casino Corona Phu Quoc – a location that the government has piloted for legal card games. In addition, they can also access reputable bookmakers to place bets online very conveniently. As of now, gambling is one of the largest growing industries globally. The value is estimated at up to 140 billion dollars (equivalent to more than 3.2 million billion VND) and continues to increase over time. In Vietnam alone, at least 1 billion USD flows out to markets in China, Macau, and Taiwan for Gambling each year.
Is the Gamble industry legal worldwide?
The online gambling industry is mostly strictly prohibited in many countries. However, for economic benefits, some countries still accept Gambling as a legal business. 
Some countries officially recognize and place the Gambling industry under strict control, such as:
1. Belgium
This country allows its citizens to gamble, but they must meet certain conditions and be under strict supervision to ensure the reduction of social issues.
2. Canada
In Canada, not only the Gambling industry but also most lottery programs and betting games must be licensed by local authorities for citizens to participate. All gambling activities must be taxed and create social development value to be approved.
3. Philippines
The Philippines is a golden land for businesses to invest and develop the Gambling industry. The Philippine government also issues Pagcor licenses and has many policies to closely manage the business activities of these organizations. You can learn more about what Pagcor Philippines is here.
4. England
England is a region with a strong gambling industry in Europe. Businesses only need to register and pay taxes to be licensed to operate online betting legally. However, this does not mean that starting a gaming company here is easy, as it must go through many complex processes, conditions, and requirements.
5. China
China is a country with many policies prohibiting its citizens from gambling. The mainland only has many traditional casinos for foreign customers to participate in. Because of this ban, China is currently one of the countries with the most online casinos. Most of these businesses have their headquarters in the Philippines, which they cannot control.
6. Macau
The casinos in this country have an estimated revenue of up to 37.59 billion dollars, accounting for 70% of the GDP of this special economic zone in 2018. The above figure is enough to prove that Macau primarily survives thanks to the gambling industry. At the same time, tourism has also been significantly promoted as the number of international visitors flocking here to play is increasing. However, to manage the activities of the casinos, the Macau government has also established a very strict and detailed legal system and institutions.
7. United States
Each state in the United States has its own laws regarding the legality of the gambling business. Most of these states have legalized the development of online casinos, and the form of entertainment involving gambling is always very popular among the people of this country.
Is gambling prohibited in Vietnam?
In Vietnam, all forms of gambling, whether offline or online, are considered violations of the law. Whether you are a player or an organizer, if discovered, you will face very strict penalties. 
Currently, Vietnam has a total of 6 casinos operating to serve tourists, which we mentioned in the article about the largest casinos in Vietnam. However, after a period of noticing that a large amount of VND was being taken abroad for gambling, the government proposed a “pilot” law for Vietnamese people to participate in playing cards domestically at Casino Corona Phu Quoc for 3 years.
What benefits does gambling bring to the economy?
Gambling is defined as a double-edged sword. It can be a powerful force driving the economy of an entire nation to rise quickly, but it can also be a factor leading to social evils, robbery, and illegal activities. If we talk about countries that have become wealthy thanks to the gambling industry, Macau and the Philippines are two typical examples. Macau, from a poor fishing village, has now become one of the attractive destinations for millions of players around the world. It has helped this land earn tens of billions of dollars each year, accounting for more than 70% of the GDP of this special economic zone. The Philippines is currently a destination for hundreds of betting sites from around the world to set up their operations here. Every year, the government of this country collects billions of dollars in taxes from businesses, contributing to strong GDP growth.
History of the gambling industry in the world
In fact, betting activities have existed for a long time, and according to historical records, the habit of gambling has formed thousands of years before Christ. 
2300 BC in China
According to some historical documents, betting activities began to form in China around 2300 BC. Scientists have made many discoveries showing that the ancestors of the Chinese used primitive tools made of wood and carved numbers to play with each other, similar to our modern Keno lottery. The money lost by players was used for the construction of national projects at that time.
500 BC in Rome
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In the year 500 BC, the Romans and Greeks enjoyed participating in gambling games, especially dice. The state at that time also issued a ban with a penalty of having to pay four times the amount they used to place bets. To cope with the authorities, many venues invented chips similar to the chips used today in casinos to avoid fines in case of being caught.
Baccarat appeared in 1400 in France and Italy
According to records, Baccarat is the card game with the longest development history and originated in France and Italy. However, according to many scientists, after hundreds of years circulating in England, America, and Cuba, this game was only improved to international standards as it is today. Nowadays, it is not too difficult for us to encounter a Baccarat table in both traditional and online casinos, and it has been adapted into many different forms.
Blackjack appeared in 1600
According to data from the famous literary work Don Quixote, Blackjack originated from Spain with the name Ventiuna 21. Additionally, there are many other reports suggesting that this game originated in France with the name Trente 31 in 1951. In fact, no information is absolutely accurate to prove when this card game originated. Before that, people only knew the card game Vingt-et-un. In 1930, to attract more players, a casino offered a bonus of 1 to 10 if they participated in betting at the “Black Jack Of Club.” From this strategy, the club experienced extremely remarkable growth and the name Blackjack. It is believed to have originated from the name “Black Jack Of Club” to commemorate the glorious event that this casino once achieved in the past.
1638 – The first casino was established
In the year 1638 of the 17th century, the Ridotto casino was formed, and this was also the casino first established in Italy (Venice). After that, a series of other casinos were born and developed strongly in Europe, later spreading to America.
Roulette was known in 1796
Roulette has long become a quite famous game loved by many gamblers when participating in betting at casinos around the world. In fact, Roulette was first formed in 1796 and has two versions: American and French (European). Currently, the French version of Roulette is considered the main version of this game. Most gamblers prefer the French version more than the American version due to having fewer zeros, thus the probability of winning is higher.
The year of the Poker game (1829)
There is quite a bit of data related to the formation process of the Poker game that is causing controversy. Scientists have not yet determined exactly when this game was first developed. According to what is considered the most accurate evidence, this game first appeared in the 17th century in Persia. The development of Poker was quite slow until tournaments related to this game were broadcast live on television, at which point Poker truly exploded.
“`At the present time, Poker is gradually becoming one of the top card games loved by many players around the world. From here, a series of tournaments worth millions of dollars began to be initiated.
1891 – The first slot machine was created in New York
Messrs Sittman and Pitt were the two who created the first coin-operated gambling machine – a 5-card Poker machine in New York. At the same time, Charles Fey in San Francisco also successfully invented the Liberty machine. From here, a new revolution in the betting industry – slot machines began to explode. Many people used his design to invent many different types of gaming machines. It wasn’t until 1976 that slot machines were born and became popular in bars and casinos around the world under the name Slot game.
The gambling industry in the United States in the 1910s
The United States was previously a country that always had two opposing sides regarding whether or not to develop the betting industry. By 1910, under pressure from the public, the U.S. government had to issue a ban on gambling businesses, and the prohibition of alcohol was also applied during that time. It wasn’t until 1930, when Wall Street began to collapse, that the economy of the United States was severely affected. At this point, the U.S. government was forced to approve the legal operation of the betting industry as a lifeline to help the country swim out of the brink of poverty.
Online betting formed in 1994
Microgaming – one of the live casino providers, the largest online gaming company today, is the pioneering entertainment unit in bringing the casino industry to develop on the online platform. It can be said that this was the first brick to build the vibrant gambling industry we see today. Following that, in 2003, Playtech helped make online betting popular and accessible to more countries.
The era of mobile gambling in 2020
In 2011, the state of New Jersey in the U.S. legalized the online gambling industry, and this event also generated significant interest from the community. Many states in the U.S. also decided to legalize online gambling. Game developers also realized that most users were gradually shifting from playing on computers to mobile devices. The 21st century is considered a milestone when the global Gambling industry made a strong transformation to be compatible across various platforms. This direction is also seen as a reasonable strategy as it has helped the casino industry’s revenue grow significantly. => See more: How to play online casino: 7 steps to start participating in safe and secure betting for newcomers.
Conclusion
In this article, we not only gain a better understanding of the concept of What is Gambling but also have a deeper insight into the history of the formation and development of the Gambling industry worldwide since 2300 BC. Although gambling is an industry that brings significant benefits to the national economy, it is also a double-edged sword that causes a series of social evils. As a Vietnamese citizen, we advise you to become a civilized player to avoid being caught in the vicious cycle of gambling like many other bettors have been. We invite you to read more articles on the same topic:
- What is a chip? Learn about Casino Chips & their real money conversion value
- Should you play online casino? Answers for beginners
- Do you have questions: What are the conditions for casino business in Vietnam?
