What is Behind the Unbelievable Growth of the Casino Industry?
The casino industry has, for some time, been experiencing an unprecedented rise. The significant growth is attributed to the popularity increase of online casinos. By the end of 2020, forecasters believe the online gambling sector will have attracted more than 60 million gamblers.
The facts give investors a viable option. Various factors cause the casino industry’s growth: e-Sports growth, a boom in mobile, and new geographical territories. Below are some of the major factors driving the change.
The growth of online casino
At the heart of the online gambling industry lies the online casino, the new model of gambling. One of the most prominent casinos nowadays is the Lucky Nugget casino site, which has a wide variety of casino games to offer to their users. About twenty years ago, some established land-based casinos tried experimenting on the online casino, and as of today, its value has skyrocketed. The growth can entirely get credited to the increase in bandwidth and internet consumption.
As more people continue to access a reliable internet connection, the market keeps on rising immeasurably. The improvement of bandwidth has ensured that the online casinos are providing quality services to their customers.
The boom in mobile
Despite the broadband penetration, Smartphones have reached markets beyond broadband, thus lessening the time taken to gamble. The connection between limitless entrée to gambling portals by enormous demands and continued rise is clear-cut.
A while ago, mobile app providers had complicated gambling restrictions for companies by setting up strict measures, but gradually, they have relaxed their stand. Nowadays, the providers are allowing those with valid betting licenses to publish their gambling apps.
New geographical territories
As the penetration of technology needed to further online gambling platforms keeps on advancing, more countries keep issuing licenses. Legislators have responded swiftly by creating laws that favor citizens who wish to access offshore gambling platforms. It ensures they can easily regulate and tax the companies.
Once they pass such laws, companies can work in a conducive environment without feeling targeted. The opening of more markets across the globe has ensured that the industry value keeps growing every day.
A more significant amount is needed to operate land-based casinos; however, changes are augmenting its growth. There is a sudden rise in the sports betting business market, hence experiencing a land rush to be first on the move.
The enormous growth in e-Sports
Some consider e-sports not to be “real” sports; hence not many will jump on this one. However, despite the doubts, there has been a rapid growth in video games, attracting numerous players across the globe and huge sponsorship deals.
Forecasts believe that by 2021, over half a billion people will be watching e-Sports. Video games have long penetrated the market, allowing e-Sports to grow massively courtesy of twitch and mobile penetration.
Among the primary factors driving the above trends can be based on the rise of the favorable international legislative environment and mobile surge. With the internet speed getting better, the market is set to reap massively in the coming years.
Moreover, with higher-quality graphics, VR game technologies, and more computing power for gaming devices in the future, the industry’s market value is expected to have an upward trend.