The online global gambling market size was valued at a whopping 53.7bn USD in 2019 and this figure is only expected to grow 11.5% year on year from 2020-2027. Although the uptake in use of mobile phones and the rise in the average time we are spending on the internet may seem like the obvious reasons as to why online casinos are on the rise, there are a host of other factors that have materialised within the last ten or so years that are playing a hugely influential part in the increasing popularity of online casinos. Below we have included the top 3 factors that have led to the rise of the online casino.
Many countries that still hold restrictions on gambling have come to realise the societal and economic benefits of online gambling. As a result, many nations are turning to legalise though licensing means like the UGKC and more aspects of this entertainment form due to the employment opportunities it brings and the increased national revenue it will generate through tax. Online gambling, for example, has recently been made legal in France in 2010 and Spain in 2011 allowing international casinos and newcomers in these countries to capitalise on new users and new growth opportunities within these markets. The opening of mass markets such as these greatly accelerates the growth of already international online casino companies as they are already equipped with tools to enter such markets at no extra cost to them.
Enhanced User Experience
With the unlimited possibilities available to both gamblers and game developers online it is no surprise that online casinos are gaining traction due to their limitless offerings they offer customers. Not only do you no longer have to travel and make arrangements at physical casinos to win big, but we have access to so much more information in online casinos that significantly increase our enjoyment of casino games. From the comfort of our own home we can call, bet and fold on multiple tables at once and even see statistics of our own gameplay and the play history of the tables we are playing on. If you’re a sucker for data, as most of us are, online casinos are a new world of fun. What’s more, the global nature of the internet has brought us unlimited playing capability with servers connecting us to users from all across the world meaning that regardless what time it is where you are, there will be plenty of people in other time zones logging on to play their favourite games with you. Don’t like people? Most online casinos have employed cutting-edge artificial intelligence technology to create automated bots for you to practise with making gambling when and how you want the easiest it could ever be.
Due to the increased volume of players on their platforms, online casinos can now offer greater capabilities for its customers by offering platforms that feature free-to-play games using game money making gambling a safer and less risky experience
There are currently an estimated 1.5 billion global online gamblers and this number is expected to grow in the wake of the coronavirus pandemic. According to reports, some 31% of people have tried out a new game during the pandemic with the figure rising to 48% when one considers already engaged gamblers (European Business Review). In addition to this, the months of lockdown in many countries and the stimulus packages provided by governments has left many people and gamblers with excess disposable income that they can only really spend online. This increase in disposable income has fuelled the growth of many online casino companies and is only expected to continue as 2021 progresses.