The Evolution of Casinos in the Age of Decentralized Internet

Games of chance have been around for thousands of years, even from before there were written records of history. They have existed in all organised societies known to humankind. From astragali to fighting animals to dominoes to playing cards to slot machines; wagering money on games of chance has come a long way.

Casinos are a more recent phenomena. They offer these games under a single roof, often combined with other facilities like food, beverages, lodging, entertainment, etc. The earliest casinos are known to have existed as far back as 1000 BC in China. The first well known casino was set up in 1638. It was called Il Ridotto and was a part of Palazzo Dandolo (Hotel Danieli) in Venice. Players indulged in games of biribi (ancient roulette) and basetta (card game from yesteryears) while mingling with Venice’s finest. After 136 years of operations, The Ridotto closed its doors to the public.

The Ridotto may be considered as a Generation 0 casino – the first iteration of an organised gaming house with amenities. Over the years, casinos have grown into a market worth many hundreds of billions of dollars, with entire cities like Las Vegas and Macau centred around these services. The total size and variety of the market is mind boggling. For example, Japan’s tiny pachinko parlours are estimated to rake in more revenue than all the casinos of Las Vegas, Macau and Singapore combined. Physical casinos are slowly giving way to digital ones. And now even these online casinos are evolving to make way for decentralised gaming houses.

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