How Online Casino Shapes The Future Of Casino Industry
As technology plays a more important role in people’s daily life, gambling industries figure out the opportunity to stay relevant and thrive in the world of the internet.
As people become more dependent on internet-connecting gadgets, such as smartphones, laptops, and tablets, a new opportunity has also arisen for industries to adapt to the trend.
That’s how online casinos begin to grow in numbers and rise into prominence among gambling enthusiasts. Online casino sites, such as smartcasinoguide.com, provide much-needed convenience and information to gamblers, who can now have the ease of playing the games anywhere and anytime. The popularity of online gambling has skyrocketed in recent years with no sign of stopping at all. In the coming years, the industry has foreseen positive expectations in revenue and scale as well. Currently, online gambling is one of the most lucrative businesses on the internet.
One thing reflected clearly from the insurgence of this industry is the role of technology in advancing this old industry into the new, futuristic world. It remains enticing to learn how online casinos will shape the future of the casino industry.
Looking Back at How Gambling Industries Grow
Gambling history dates back to the dawn of humanity. Historians uncovered known examples of dice games from the early millennium as one of the earliest gambling forms. The invention of slot machines in the 18th century has triggered the surge of casinos. In modern times, gambling and slot games has endured the test of time by adapting to technology, hence online casinos. The recent culprit is the internet, which has changed how people gamble their money.
Gambling began the transformation from a mere leisure activity to an established industry in the 1970s. Harry Ogden is the first known man to make profits as a bookmaker; and, what he did has changed the landscape of this industry once and for all.
The industry rose but soon received backlashes after struggling with laws about the use of money at stake. Only in the 19th century, the industry eventually got legal recognition. In the United States, casinos were first legalized in the state of Nevada in 1931. In the United Kingdom, betting stores only received legal approval in 1961. After that, there’s almost no stopping in the development of the industry.
The gambling industry received bigger boosts when the law allowed betting games to get television broadcast in the 1980s. Globalization also began in the same decade. The internet helped expand the industry when it was first introduced in the late 1990s. The first known betting site went live in 1998. The introduction of smartphones in the 2010s pushed the advancement even further into the state we see right now.
Rejuvenation Of Gambling Industry By The Internet
Like in many other industries, the internet has inspired massive changes in how the gambling industry works. The Internet has also turned the gambling industry into one of the most profitable businesses. By 2015, the revenue of the online gambling industry hit USD 41.4 billion. Within five years, the net worth hit USD 44.3 billion by the end of 2020 —a year plagued by a global pandemic. Experts have foreseen online gambling’s total revenue to hit USD 66.7 billion by 2025.
The exponential growth of mobile devices has also transformed the landscape of the online gambling industry. The ease and importance of mobile applications have radically provided more opportunities for gambling companies. Mobile-device betting had contributed to 47% of the total gambling market according to a report in 2018.
The internet has enabled the gambling industry to reach more players from around the world. There is almost no limitation in what gambling companies can do and have nowadays. Bigger companies attract players in foreign countries — offering hundreds of playable games live 24/7 and accepting deposits in any method.
The Future of Casino Industry
Gambling and technology go hand in hand when it comes to development and advancement. As online gambling gets bigger, the bigger the demand is getting when it comes to a great user experience. Today, here are the latest online gambling trends that are shaping up the future of gambling.
Reflecting on the growth in the past, it is apparent that technology will play a pivotal role in the future growth of the casino industry. The trend can be predicted from the recent development, but it’s not always restricted to that alone. The future of the casino industry will again go hand in hand between land-based casinos and their online counterparts. However, it’s the online counterparts that will eventually grow in scales and varieties. Here are some online casino trends that may emerge to shape the future of casino industries.
Cryptocurrency gambling began to gain popularity recently. However, it’s still in the early development stage. Betting companies start accepting cryptocurrencies, like Bitcoin, Doge, and the likes of it. Looking at the popularity and the power it has in online transactions, there might be a massive chance for crypto-gambling to be the next big thing, especially when cryptocurrencies have become more popular.
As the internet gets quicker day by day, global live betting becomes more plausible and balanced. Live betting games, also commonly known as in-game betting, allows players to place a bet during a live match. With 5G internet service on the horizon, live betting might see the light of day sooner than it is later.
Smartphones are not the only mobile device nowadays. Smartwatches have become as popular and as integral to daily life. Even, the future might seem bright for smart glasses as well. As wearable peripheral devices rise in popularity and functionality, the future of casino industries might also lie there. Betting on the go from those devices sounds more plausible now knowing how betting companies always find the opportunity to integrate into the latest technology.
The internet has massively changed how the gambling industry operates in the modern world. With the growth of online casinos, gambling companies can now attract players without having a land-based venue. Players can gamble anywhere and anytime from their gadgets. The future of gambling industries might also be related closely to the growth of technology as well.