Online casino industry speaks the story of the struggle for the existence of entire casino industry. You would find it difficult to believe, but it is the fact. Most of the millennials, the income-earners of future, were reluctant to go to casino houses and spend their hours behind tables. Instead, they chose to play video games in their consoles or online. It would have damaged the entire industry in future, but the strategies and innovations of online casinos helped the industry to bring a percentage of millennials to it.
Though the first online gambling platform began its journey in 1994, it took more than a decade to respond to the needs of the young generation – people who use the internet predominantly for entertainment. In the recent years, online casinos began adopting specific strategies to take the young generation to their wings. If you are a gambling enthusiast, you should know how the online casino industry is rewriting the fate of the entire casino sector.
Targeting Millennials – Focus on Future
Since the vast majority of millennials are interested in video games as well as fantasy games, the online casino houses combined those experiences into gambling games. The casino houses joined hands with fantasy sports companies and video game developers to expand the online gambling experience further. It means that new video games are introduced by the casino houses with the elements of gambling like spins, free slots, and more. The houses also conducted fantasy game tournaments and began various sports betting.
For instance, the classic Atari game Pong got a redesign by casino houses in the recent years and introduced as slot Pong. The game that came up with five reels and 20 paylines is a perfect example of how online casinos are rewriting the story of the industry. The online casinos think that the smart insertion of gambling into traditional gaming can bring the young generation into the industry. The online casinos also follow the strategies of video game publishers like frequent updates, promotional programs around festivals, and more.
Increased Profitability, Unlimited Opportunities
While traditional gambling houses have a bigger pain of operational expenses of the facilities, online casinos do not face the pressure of such expenses. It means that they get better profit and can offer better payouts to the gamblers. It is going to be the make for online casinos and break for traditional casinos in the near future. It is highly evident with the number of new online casinos being listed with online casino review and listing sites like www.onlinecasinoinfo.com.
The online mode of gaming gives numerous opportunities to casino houses. First of all, it gives much wider market than a traditional gambling house gets. The gamblers from across the world, only from the countries that permit online gambling, can access online casinos and bet on games. Secondly, the online casinos provide round the clock gaming, which is entirely different from the operational hours of traditional gambling houses. Also, the online casinos have room for innovation and better options for advancement compared to traditional houses.
Some Statistics and Developments
Though online gambling is showcasing excellent double-digit growth in the recent years, still the traditional gambling houses hold over 90 percent of the total revenue. However, with aggressive strategies and technology innovation, the online sector is quickly becoming the face of the gambling industry. The leading industry , research and Markets confirms that the online gambling industry would be an $81.71 billion market by 2022.
Per the recent developments, more and more countries formulating and grabbing online gambling. For instance, countries like Mexico and Argentina have initiated steps to legalizing the online gambling. Many states in the U.S. are coming forward to set a policy for the industry and legalize online gambling in the recent years. Pennsylvania legalized online gambling in 2017, and states like New York, Michigan, Louisiana, and more are expected to pass their bills in 2018.
It is a fact that the technology advancement greatly incentivized the growth of online gambling industry. It is also the biggest potential for the industry in the coming years. As more people access smartphones and high-speed internet, the online gambling industry would get a more expanded market.