No other industry could spike to a net worth of $50 billion by 2017. In two years, it hiked to $55.19 billion. In just a few years, it caught up to retail and healthcare giants.
This is the online casino industry. It’s like the universe itself - constantly expanding and changing.
Online gambling has never been more accessible. Technology pulled online casinos to the top. By 2011-12, mobile betting earned a Gross Gaming Yield of £710.19 million. This was in the UK alone.
Innovation works closely with technology. Game developers scramble to make the best slots. Creative output is the heart of allure of online casinos. A slot is already behind at 1,000,000 spins. Competition is fierce to appeal to players.
Excitement. Promise. Chance.
These are the things that people hold onto. These are the reasons behind every spin. These are the incentives behind every wager. One single spin can change a life. A click of a button can make you a millionaire.
People are excited about the chance of winning the jackpot because it’s possible. It happened before to ordinary people. The best part is it can happen to you.
There are numerous factors behind the value of online casinos. It is an ever-changing enterprise. It is ahead of its time and it needs to be understood.
Innovation and diversity
Online casinos strive to find the next big thing in technology. It’s the busiest and most diverse part of the industry. Big software game developers have 700 to 2,700 employees.
This large workforce is dedicated to creating new slots. It is a long process to make slots. Developers need to create concepts and algorithms. They make sure that slots are at top-notch quality.
Slot themes are limitless. Countless characters and concepts decorate slot collections. Even popular movies have their own slot games. Table games such as Blackjack and Roulette play just as well, if not better in online platforms.
Slots are the rich filling of online casinos. Bonuses are the tasty fondant. They want new players and first deposits, so they need to be enticing and generous. Bonuses need to be sweet enough for players to join online casinos and enjoy.
New players thrive in Welcome Bonuses. Zero deposits, free spins, and free money are common welcome bonuses.
Welcome bonuses may attract new players, but VIP bonuses attract loyal players.
In online casinos, regulars are treated like kings. VIP bonuses give special treatment. Prizes are no longer just Free Spins. Tickets to major concerts, events, and cruises are common treats for VIPs.
Sportsbooks are a strong contender in online betting. It makes up 40.3% of all online gambling activity in Europe.
Sportsbooks cover many markets. Lovers of football, rugby, and cricket can wager on the leagues they want. Fans bet before a game starts and even in the middle of a game. You can bet on interesting props like odd or even scores.
Reality is no barrier to sportsbooks. Fantasy teams and matches are wagered on and determined by track records. Sportsbooks race to be diverse. They seek the best competitive odds. They find ways to spice up matches with propositions.
The online nature of this industry does not remove the thrill of betting in land casinos. Live casinos extend this experience to people any time, anywhere. They are the bridge between traditional and online casinos.
You can talk to real dealers - ask questions and talk to them much like in a land casino. At the same time, you are playing a live table game in the comfort of your own home. Real-time deposits are made. Real-time payouts are now possible.
Security and regulation
Online businesses are under constant threat of hacks and data breaches. The online casino industry always gives faster and safer ways for player transactions. They have security measures that rival most government sites.
Trust is everything for players. A reliable casino is a successful one. Cryptocurrencies are an important foundation of this. Bitcoin is the leading online currency in the market. Benefits of using Bitcoin attract most gamblers. If they use Bitcoin, their identity is protected. Total anonymity is guaranteed. Money going in and out of their accounts stays private.
Some nations are great avenues for security. Countries like the UK have strong regulation systems like the UK Gambling Commission. This high security gives way to the growth of the industry. 171,134 virtual slots originate from the UK. The UKGC licensed 162 casinos in 2015.
Expansion and other factors of growth
Online casinos are racing to have more influence.
Popular figures with large followings have brand deals. Major football clubs are now sponsored by some online casinos. Premier leagues are covered by sportsbooks for fans to flock to. The biggest sponsorship deals come with major events.
Top-quality players in sports have millions of followers. Online casinos and sportsbooks take the chance to strike big deals with them. Big names such as Ronaldo and Ibrahimović spur a craze.
A brand’s logo on a jersey sleeve or a collar is a huge deal. If a company logo is on their jersey, people will notice it. When everyone sees the brand, everyone wants to be a part of it.
Women are a rising presence in online casinos. They make up about 40% of gambling activity in the UK alone. Women are getting into a wider range of games like slots. They are becoming a target market for some brands. Online casinos like Pink Casino and 888Ladies are, especially for lady gamblers. This is just one of the many specific markets out there.
Bringing change to the table
The value of online casinos is a progressive jackpot in itself.
In a progressive jackpot, there is a network of people involved. The market, companies, governments, and players can all contribute to this. They all contribute to a growing pool of influence. Technology attracts more people to help this pool grow.
All counts in this big prize pool. From the smallest bet on a prop, it all leads to the huge value of the industry.
There will surely be more things for the industry in the horizon. New aspects such as VR and skill-based slots are right around the corner. Esports betting is a rising market that’s already piling in millions of euros. These additions will spark new trends in businesses. They have the potential to touch new markets and reach more people.
The successes that the industry went through is just the tip of the iceberg. It has a lot more to offer in the bright future. As long as people are entertained with gambling, the industry will keep thriving.
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