Although casino games like blackjack and roulette have been around for centuries, the online casino industry is showing record signs of growth. A recent study by Global Industry Analysts has revealed that the global gambling market is expected to reach a staggering $876 million by 2026.
The reasons for this are manifold. From the omnipresence of smartphone technology to the ongoing deregulation of online gambling in major national markets, it seems as though the world is in the grip of a gambling revolution. Here are the major reasons why online gambling is on the up:
The switch from physical to online
The gambling revolution has largely been caused by a switch from the physical to the online domain. One of the most consistent stories of recent times has been how gambling revenues have declined at traditional casino resorts in places like Las Vegas. However, this is the direct opposite of what’s going on in the online domain with many new casino sites taking advantage of the trend for online play. Interestingly, many key players in the traditional US casino industry have been quick to join the fray with everyone from Harrahs to MGM getting involved in the online casino revolution.
Global deregulation of gambling
Gambling has always been tightly controlled around the world, but many governments have been slow to adapt to the trend for online casino gaming. As such, something of a legal grey area has opened up in countries like India and Canada, and a host of international operators have flooded in to fill the void. In a big to harness the immense revenues of online gambling, countries like the US are currently in the grip of ongoing deregulation of the gambling industry. This has meant that there has been something of a goldrush for new entrants to get one of the few online gambling licenses in the US. With the gambling market in the US thought to be $262.4 billion as of 2021, it’s easy to see why the stakes are so high.
You can’t talk about online casinos and not mention mobile gambling. Casino games make up a significant proportion of all of the games played online, and people are using their mobile devices to do so. With over 748 million smartphones in India in 2020, it is no major surprise that casino sites like wetten.com/in/ would ensure that their gaming platforms are as mobile-friendly as possible.
New gaming formats
Many online casinos feature instantly recognizable table games such as baccarat, blackjack, and roulette. However, most casino sites will feature a range of colorful online slot games that feature a range of graphics and audio soundtracks that are a world away from the traditional one-armed bandit. As such, it’s just as common to find a slot game that’s based on a Hollywood blockbuster such as Jurassic Park or even a boxset TV hit like Game of Thrones as it is the old-fashioned fruit machines. Plus the arrival of live casino gaming means that anyone can enjoy an immersive table game in real-time against a real-life dealer from the convenience of a smartphone, tablet, or computer.
Where will casino gaming go from here?
It’s hard to deny that online casino gaming is set for massive growth. Even a pandemic couldn’t stop the appeal of slots and table gaming on a global scale. As long as the trend towards deregulation continues across the world, we can only expect the online casino revolution to go from strength to strength. All of which paints a bright future for casino gamers worldwide.