In recent years, the online gambling market has achieved significant growth – going from a nice market in the late 1990s to a billion-dollar industry. And it is set to achieve further growth, with reports showing that the global online gambling market is expected to grow from $64.13 billion last year to more than $72 billion this year – this translates into a compound annual growth rate (CAGR) of 12.3 per cent. The market is expected to hit $112 billion in 2025, at a CAGR or 12 per cent.
But what are the factors contributing to the popularity of online casinos?
Advances in technology have certainly played an important role – especially internet penetration and the increasing adoption of smartphones, which both eased access to casino gaming platforms. This means that nowadays, players can access any online casino from their smartphone wherever they are – and this has met the players’ demand for easily accessible forms of entertainment. As long as they have an internet connection, players can be entertained anywhere, any time.
Such advances are consistent – with the industry pushing continuous innovation. In fact, the industry is constantly proposing elements that keep this form of entertainment thrilling, convenient and safe – with the more recent innovations including pay and play casinos as well as the use of cryptocurrencies in online gambling.
Another element that the online gambling industry thrives on is the sheer variety of games available, ranging from bingo and poker to lottery and video slots. Online casinos have an unlimited space for games – as there is no need for physical space. This means that there is the proverbial something-for-everyone, from old favourites to new and exciting games, and anything in between. Of course, no players has the time available to trawl the internet looking for the latest or most popular games – but online guides with expert reviews provide players with quick and easy advice on which online casino has the best games, the more attractive bonuses and the easiest and safest payment options.
Online casinos also make it easy to play – and entice new players with exciting bonuses and offers. Online casinos also design tutorials for their games, so players can learn without spending any money – and when players get the hang of a game, they are encouraged to keep playing through attractive incentives.
The industry has also boosted its responsible gambling credentials – with trustworthy and licensed casinos investing in keeping their players simultaneously safe and entertained. Casinos also invest heavily in cybersecurity measures in order to ensure that their customers’ data is secure.
These factors all combine to continue making online gambling attractive to new and existent players – thus contributing to the growth of the industry.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/.