Online Casino Sites is Big Business - Some Facts
Online gaming is increasingly becoming popular, as more people belonging to a wider demographic keep on venturing into this arena for leisure. There has been a dramatic shift in how we entertain ourselves and unwind after a hectic day and online casino gaming is a big player in this modern market. In fact, this industry is only getting bigger or more exciting with new technological advancements making gambling a prime opportunity for entertainment for youngsters and the older generation alike. Here are a few interesting facts that will get you interested.
Online Casino Sites – An Overview
The online casino gaming has a massive market, especially in Europe, where betting and gambling are popular leisure activities. This could include anything; from buying lottery tickets and betting to playing on the online slot machine and even includes table games played in casinos. Mobile devices have become the norm of the day. This has resulted in casino companies looking at this medium to attract a larger audience to get involved in this exciting form of entertainment. Check the casino sites here, and experience some of the most amazing online casino gaming interfaces. Sophisticated online wallets and payment systems make it convenient for gambling enthusiasts to go cashless.
A $128-billion industry
Globally, the online casino business is easily valued at $128 billion by 2026. This estimate is based on the consistent growth witnessed by the online gambling market in the past decade. In 2016 alone, this industry raked in a massive $41 billion; it will nearly double to $80 billion by 2020 alone.
The online casino gambling industry is part of the global gaming industry, which made $107 billion in 2017. The CAGR, (compound annual growth rate) from 2018 to 2026 is estimated to be at 11.8%, making it one of the most profitable online businesses for casino owners.
A Shift In The Way People Think
One of the prime reasons for online casino gaming moving on to become one of the most lucrative industries is simply the fact that our society has become a lot more progressive than what it would have been decades ago. The advent of Internet has made it conducive for even the older generation to become internet savvy. Additionally, there has been an upsurge in the disposable income of families. Traditionally, gambling has been marred by a social stigma; anyone who would gamble was usually frowned upon. We have come a long way since and the open – minded nature of people has made this industry more progressive.
Options To Place Bets On Wide Varieties Of Topics
In its early days, gambling attracted the interest predominantly of the older male population having a keen interest in sports. The online casino and gambling scenario has changed this situation drastically. In today’s times, it is possible to place a bet on a topic of your choice. This has attracted not just the older men but also youngsters from all walks of life.
Females At The Forefront Of The Online Gambling Industry
There is a tremendous upsurge in the number of females who participate in gambling activities online. This is paved a path for casino companies and giving them an opportunity to create exciting possibilities to get more women to sign up with these casinos. One of the prime reasons that has led to this upsurge is the increase in the use of mobile devices for a wide variety of reasons. This ensures that the male players do not dominate or intimidate the fairer sex. Taking advantage of this new trend, some of the popular online casino companies have created new arenas where the female population can exclusively entertain themselves and play in their online casinos.
Introduction of VR into gambling
The introduction of virtual reality has completely changed the game by enabling gamers to engage with the platform in a much better manner. By 2022 alone, virtual reality is expected to boost the growth of online gambling industry’s CAGR to 55%. At present, very few casinos have actually adopted this technology. Not just in the online space, with the pace at which VR is presently moving, it is more than likely that this will be the norm for land-based casinos as well.
Gambling has now gone live in the online spaceOnline casinos have also introduced the concept of live gambling, which has brought in a flurry of enthusiastic audiences interested in this form of entertainment. For serious gambling aficionados, this is the preferred method of playing online and the industry has seen an upward trend, with nearly 45 million people visiting live online gambling platforms.
Casinos are adopting gamification
Essentially, gamification involves creation of a storyline with different characters and the possibility to unlock levels as you progress through a game. This is a classic format followed by online gaming, which casinos are adapting to as well. This creates an engaging atmosphere for gambling enthusiasts encouraging them to play for longer durations of time, which also helps the online casinos rake in good profits. This aspect of online casinos has seen a tremendous growth and is estimated to become one of the prime features of online gambling.
Concluding Remarks
The online casino business is booming and with the advancement in technology and the progressing mind-set of the society as a whole, this industry is set to become one of the most popular ones in the next decade.
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