On this day in history: Atari creates video games
The release of "Pong" in late November 1972 gave birth to the era of home video-gaming that has remained popular with millions of households right up to the present day.
29 November 1972
In 1958, scientists in New York made a primitive computer game called Tennis for Two'. But it wasn't until 1971 that the first attempt at a mass-market, coin-operated video game emerged.
Computer Space' proved too complicated and received few orders. But its creators went on to found Atari, which in 1972 came up with a hit.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Inspired by a game bundled with the early home computer system Magnavox Odyssey, Pong allowed two people to play simulated paddle tennis against each other.
The simple concept, combined with deliberate design quirks to ensured games were limited in length, proved such a hit that Atari scrapped plans to develop it with other firms and launched the product on its own.
Atari initially struggled to keep up with demand, and before long games machines were appearing everywhere.
Rivals entered the market with clones; others worked on fresh ideas. The arcade industry boomed, helped by games such as Space Invaders (1978) and Pac-Man (1980).
Eventually, the market become saturated: machine sales peaked at $8bn in 1981 ($25.2bn in today's money), although they remained high throughout the 1980s.
But Pong's greatest legacy lay in the boost it gave the development of home computer games, starting with the home version of Pong in 1975, which sold 150,000 units in the first few months of release.
On its first day of release this month, over a million PlayStation 4 units were sold globally.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Government launches full review of parental leave and pay – what could it mean for you?
The government wants parental leave to be fairer - will its shake-up fix the widespread problem for families?
-
Nationwide: House prices see biggest monthly fall in over two years
UK house prices dropped by 0.8% in June, according to Nationwide. We reveal the top-performing and worst-performing regions