The online casino industry has grown exponentially since the first online casino games were launched in the mid-90s. What started as a few poker rooms on the internet has grown into an $80 billion dollar industry, with no signs of slowing down. In fact, all signs point to the online casino industry growing ever bigger.
However, to determine the exact factors that drive the growth of online gambling, we have to consider numerous factors, which may be wholly unrelated to each other in some cases.
Because we’re examining the global casino industry, we need to examine player gambling trends across regions, shifting government policies regarding casino industries that can help or hinder casino operators, and internet technologies that online casino operators have adopted.
Preferred casino games across hemispheres
Western casinos are typically associated with card games like poker and blackjack, roulette wheels, craps tables, and to a degree, slot machines. While slot machine games generated $10,876.7m in 2019 in the United States, Americans actually spend almost 7x more on other types of casino games.
The stats for casino floor action in-game popularity are:
- Blackjack 31%
- Roulette 24%
- Casino table games 21%
- Baccarat 9%
- Craps 6%
However, we are speaking specifically about physical land casinos, and so the stats vary for online casino games, which are of more variety due to technology.
For example, in the state of Pennsylvania, revenues from six online casino slots outpaced physical table games in the state’s twelve casinos.
Purely speculative theory, but land casino visitors may enjoy the social excitement that occurs at table games but prefer the solo-player slots online. Online casino operators like Casumo casino offer 3D slot games with progressive gameplay highly similar to video games, which may resonate with young adults globally more than traditional table games.
In Asian countries, the legality of casinos, and gambling in any form, can vary widely. Thailand only allows horse racing and government-sponsored lottery, for example, and online casinos are outlawed in South Korea, and while tourists are allowed to visit land casinos, South Korean citizens are prohibited.
The Philippines, on the other hand, has the highest number of online casino operators in all of Asia, and Macau has the most land-based casinos.
Japan has only recently relaxed their strict laws on casino operations, but the country spends over $200 billion per year on Pachinko machines, which are similar to western slots. Japanese law did not consider Pachinko machines as gambling, even though they may include cash prizes, and often do.
A joint report led by AlphaBeta Australia and Australia Pty Ltd., an Australian credit agency, has uncovered a 67% expansion in online gambling in April 2020. As physical casinos were shut down due to the global pandemic, it increased more demand for online casinos.
Rise Of Mobile Casinos
Increasing internet users on smartphones is changing the online gambling market. These clients use cell phones to play gambling games and bring in genuine cash. Online gambling providers in the market are focusing on attracting web-based media stages, for example, Instagram, YouTube, and Facebook, to pull in new clients.
The development of portable gaming can be connected to the increased hype of social gaming. Gamblers have discovered online gambling to be more interactive and dynamic, which has resulted in many to build up an affection for it. Why not simply gamble on the go?
BlockChain And Cryptocurrencies
All throughout the history of online casinos, one of the primary concerns among players was identified with the security of their own online transactions.
Digital forms of money have become the standard today instead of an exception. With blockchain and cryptocurrency, installments have gotten more secure and quicker.
Although conventional types of payments will stay a centerpiece of online gambling, it is normal that cryptocurrencies will gradually take over these old frameworks of transactions with time.
Virtual Reality Slots
Virtual reality slots are changing the game. Software developers have perceived the potential that virtual reality has, and there have been several notable experiments at constructing virtual casinos. It’s a niche market for now, but may become more popular as virtual reality technology advances and becomes popular in the mainstream.
In 2020, facial and gesture recognition is foreseen to develop, which will additionally drive the development of online gambling. This will be tied into the augmented reality sector, which may become mainstream in the next 5 to 10 years, according to some predictions.
Imagine yourself turning the roulette wheel, physically pulling switches of gambling machines, or signaling whether you might want to fold or bet at a virtual poker table. These are only a portion of the ways that facial, motion, and voice acknowledgment is being utilized for online gambling.
With such innovation, players can even create custom avatars that include the gambler’s facial features. As innovation keeps on advancing, it is normal that this advancement will keep on affecting the gambling business to offer clients a more dynamic and exciting gambling experience.