1. Amillennialism: They believe that Satan was bound at the cross of Christ and His work. Some take a futurist view that he is temporally held back and then will be bound in the future. Satan is let loose for a short time where he goes on the prowl, seeking to destroy the Church at the end of days, but he will be unsuccessful. Because Satan sought to persecute the Church, he is persecuted, judged, and sentenced to eternal damnation. This passage also represents Christ and His victory over death on the cross. For us, it further means we have no fear of death or judgment when we are in Christ. The fire and judgment of God represents those who are evil being consumed by God’s just wrath in one universal judgment where the wicked go to hell and Christians receive their reward. All this coincides with the Second Coming of Christ and then the rebuilding or creating of a new heaven and earth.
2. Premillennialism: This view sees a chronological sequence as Satan is bound in the future when Christ returns and before Christians receive their reward, and then the millennium commences, hence the name, “pre”. This makes two distinct judgments—one for Christians and one for non-Christians after the millennium. Then, Christ reigns on earth as the full extent of God’s kingdom lasts for 1,000 literal years. Most see this happening in Jerusalem, Israel. Jesus will judge the wicked; then, a new earth is created after Christ returns and after His 1,000 year reign (of course there are many divergent views in this camp, but this is the prominent view).
3. Postmillennialism: This view sees this passage as the successes of the spread of the gospel, which we, the Church, are responsible for and the resulting conversion of all or most of humanity to Christianity. The binding of Satan will greatly help the spread of Christianity; then will come a great future age of peace and prosperity for the Church. Then, Satan is let loose for a final period of persecution; after that, those who are in Christ are resurrected as Christ returns (of course there are many divergent views in this camp too, but this is the prominent view).
Ironically, this is considered the most controversial passage in the Bible, the one over which most fights and divisions for Christians occur. Scripture is very clear in most places, but there are passages like this one that are hard to understand; if we are really willing to examine and look to the Spirit, we will have a better idea of its real, intended meaning. The sad fact is, most do not read the passage in its context and meaning; rather, many people seek an agenda and fight with all they can to prove it regardless of facts, ignoring effectual procedures to know and read God’s Word effectively. In addition, sincere Christians hold different views on non-essential theology like this, over which there is no reason to have disunity and strife! What is essential is that Christ will return, and as of this writing, He has not yet arrived in His second coming form (Col. 3:4). A final judgment will take place where all peoples will be judged; the righteous will be rewarded and the wicked will be held to account (Matt .25:31-46; John 5:28-29).