For centuries, people have been playing games of chance or placing bets on the results of different games. Nowadays these activities continue gaining popularity, especially in the online form. As the internet’s answer to gambling, online casinos allow players to access their favorite casino games from anywhere with internet access using their computer or mobile devices. Despite opposing regulations, the global online gaming industry has shown rapid expansion over the past decade, and economists expect the trend to continue.
Online gaming has grown due to a number of factors such as internet penetration, the opening of new markets, and new players signing up. Since 2005, the online gambling market has increased by 2.5 times and is predicted to generate an estimated $40 billion USD worldwide in 2014. During this time the online casino market has attracted many new participants. Each strive to stay ahead of the competition by offering unique product packages, a great variety of games, new features, and regular system updates. Here you can see the dynamics of the online access to the William Hill, Bwin.Party, Bet365, EUCasino, Betfair Group, PlayMillion, and 888 Holdings.
The widespread use of smart phones and other wireless devices in recent years has revolutionized the online gaming industry with demands for mobile casinos on the rise. Players opt for a mobile casino because it provides a convenient way to place bets from anywhere with internet access using their devices such as Androids, iPhones, or iPads. The online casinos try to deliver best services to their customers. Statistics shows that online gaming will produce $100 billion USD by 2017 and will go beyond that of ordinary desktop players in less than five years.
The gambling market demographic continues to become more and more diverse, and the typical gambler no longer fits into the traditional image of a middle aged man. More females play virtual gambling activities than ever making up 40% of the industry. The age range of online gamblers has also increased as internet penetration in society continues to grow, and currently 30% of online gamblers exceed the age of 50.
Lottery, skill games, bingo, casino games, poker, and sports betting comprise the online gambling shares. However, game preferences vary depending on gender. According to studies, women tend to play bingo games, although they also show increasingly more interest in other types of online gambling. Gambling behavior differs between genders as well. Women usually play for longer at lower stakes, while men play more frequently at higher stakes with shorter sessions. As a rule, males play to be excited while women play to get a relax.
The global internet casino industry
With the increasing popularity of online casinos, more countries around the world have permitted regulated online gambling. Online casinos generate millions of dollars in the economy, give workplaces, and create tax revenue. As the industry spreads, each country adopts its own measures to adapt to the emerging market.
The leading continent in the online gambling industry is Europe. The United Kingdom has become an industry leader with a £2 billion market that continues to grow. In Great Britain there is a tendency to relocate gambling business to the offshore. To counteract the loss of taxes from offshore gambling, the UK has enacted a law to tax online gambling based on the player’s residence, effective December 2014.
Despite the ongoing regulatory backdrop, one thing remains clear – the global online gambling industry is here to stay. In the future, virtual casino revenue will likely create over hundreds of billions of dollars, with mobile gaming to exceed the desktop gambling places. The industry is continuously developing, since more and more countries accept regulated online casino business.