The global online gambling industry has been developing very rapidly in recent years. According to experts, the market will be around the USA $30 billion in 2011, and in 2018 it was already at the USA $50 billion. That figure was $75 billion by the end of 2020. At the same time, the growth forecast is almost 9.7% annually. A huge part of gambling is the activity of online casinos. It is the fastest-growing small business sector in 2021. Let's look at the reasons for this rapid growth.
What drives the development of the online gambling business?
First, these are people. The game has become easier and more accessible to a wider audience. This is a similar path that previously followed leisure activities such as television, radio, or even free online gaming with hidden micropayments.
Technology is in second place.
The main trends shaping the market at present:
- Games and virtual reality. Innovation is changing the way we think about games. The early providers are already offering VR solutions to create a more realistic experience, as well as offering the option to play in live virtual online casinos. In addition, companies are using machine learning to personalize and improve the experience of each player.
- Mobile gadgets. By leveraging the versatility of mobile devices and creating specialized applications, new types of games are making the industry more open and interesting for different consumer groups.
- Gamification. Software vendors are increasingly focusing on shaping the player experience. As a result, mechanisms are created for collecting points, gaining new levels, or discovering better opportunities in the gameplay. The use of popular culture references (such as superheroes or favourite movie characters) is also an important element.
- SSBT (Self Service Betting Terminals) are self-service terminals designed to transfer experience from the network to points of sale. An example is the solutions offered by Playtech BGT Sports, which allowed the company to win 95 per cent of the shares in Europe's largest market in the UK.
The third factor in the rapid development of small businesses associated with online casinos is security. The internet is now the safest place to play. Client protection depends on two factors: appropriate technological and legal solutions. Dedicated tools are available on the market to detect people playing in dangerous ways at an early stage and to support addiction counteraction processes.
The impact of the pandemic on the development of online casinos
Like any other business, the global gambling industry has also been hit hard by the COVID-19 pandemic. In the United States, the world's largest gambling market, many states have had to temporarily close their land-based casinos. But new online gaming platforms have also started to grow. This is because in conditions of quarantine and constant negativity rushing from the TV screen, a person wants to get positive emotions. And such joy can be provided to him by playing online.
Online casinos have become the salvation of the gambling industry. Although online gambling has always played a significant role in the global gambling industry, the growth of such entertainment will now be much larger than the growth of the land-based gambling sector. Following this thought, the owners of online gambling sites can breathe a sigh of relief. A good example is the table games in casino ilucki, which have become very popular during the spreading pandemic.
Online casinos offer their services around the clock and enjoy winning options even amid the global crisis. The main reason for this success is that such casinos can offer their services to potential users remotely, that is, without leaving home. This is very important during the development of viruses. Many online gambling sites are getting more attention than ever before. Nevertheless, they do not stop there and continue to interest their visitors with innovations. Particular attention is focused on the no deposit bonus, which means that an online casino player can try his hand without investing money. What other benefits does an online casino offer?
Here are some of them:
- the ability to play anywhere. Online gambling is simple, fast and easy;
- the ability to play at any time. Online casinos work around the clock;
- the ability to access more games. Some of the best online casino sites have hundreds of games to choose from;
- the ability to play without pressure. Many beginners feel less pressure when they don't have to sit face to face with other players;
- the ability to play free games. Many sites offer a demo mode where you can play without any financial investment;
- the ability to accumulate points. Many casinos have points programs that accumulate for future bonuses and rewards.
To achieve "population immunity" will take time to vaccinate the majority of citizens (60% of those vaccinated). Therefore, the halls of land-based casinos will continue to be a dangerous place. Online platforms have become a way out of this situation. During this time, the gambling industry can work on how to minimize the damage caused by the pandemic and recover some money lost in 2020. Modern casinos are expanding their user audience with the help of new technological solutions such as virtual reality. People will still be able to have fun, only this time on the internet. And small business allows you to create competition in many new casinos. For these reasons, online gambling is considered a very promising and fast-growing area for small businesses.
