Top Five Reasons Why Online Casino Businesses are Thriving?
Online casinos have been around for a while, and I have been writing about these for a couple of years now.
Since the first online casino that started in 1994 in the United States, a lot has changed. The phenomenal rise of online gambling in the last few years deserves a study.
Keep reading to understand the reasons behind the increase in online gambling in the last few years and also find the top five reasons why online casino businesses are thriving.
Online casinos can give you many reasons to like math, like
- percentages of Return to Player (RTP)
- wagering requirements
- odds calculation.
Sharp mathematical thinking can be really helpful in your gambling night. Luckily for Norwegian players, there are specialists and websites dedicated to finding the best odds bonus. I chatted with Norwegian online casino expert, Benjamin Reppersen, to learn all about what is happening in the Norwegian online gambling sphere.
There are also lucky numbers making casino owners smile. It’s the impressive rise of revenue and customers lately.
A recent study shows that gamblers were six times more likely to gamble online since the first lockdown. In fact, since the beginning of the pandemic online gambling has soared.
Why were Online Casinos so successful?
Many factors can explain such a spike in the numbers of players and revenue. In this article, we’ve narrowed those factors to five. Check them below.
1. Better Technology
Better internet speed and mobile technology have helped propel online casinos to new heights. Online gambling technology has come a long way since Nintendo tried to adapt its console to bet on the lottery back in 1991.
Now players can bet on their favorite casino anywhere, whenever they want. Not just the US or EU or Japan, online casinos have now covered top developing nations like India, Thailand and China.
Online casinos have made gambling available to wider audiences. Because almost half of the world population has a smartphone, the number of potential players has skyrocketed.
2. Investment in Marketing Campaigns
Casinos are spending more on digital marketing now than ever before. Wherever it’s permitted by law, casinos invest impressive amounts in local TV ads. The advertisement budget went from $10.7 million to $154 million from the beginning of 2019 until now, and that was only in the United States.
Because of the pandemic, people are spending more time at home. Therefore, TV campaigns can reach those players who would spend most of the day at work but are now in a home office. The number of players engaging in online gambling is following the same upward trend.
3. Safer Online Environment
Remember that visionary Nintendo project we’ve mentioned before? It was dropped, under concerns of facilitating gambling to children, among other reasons. The internet at that point wasn’t great either. None of those problems remain today.
Nowadays, online casinos have efficient ID-checking methods. Not to mention the incomparably better technology we enjoy today.
Casinos have invested in solid security systems, such as the SSL (Security Socket Layer) and TSL (Transport Security Layer). Those systems are the same used by banks and aim to protect your data while in transit. It means that your personal and banking information is safe while you play.
The group of people using smartphones today comprises about 49% of the world’s population. This number is expected to grow even further in the next few years. So, it looks like smartphones are the future of online gambling. Going mobile was a matter of survival for online casinos, and most of them did so.
Global statistics show it was the right move. Most gamblers still prefer to gamble from their desktops. Still, the number of mobile gambling is rising steadily.
5. Variety of Games
Top online casinos are constantly adding or renewing their games catalogs. Slots fans enjoy new releases almost monthly. The number of live dealer games is also increasing, and it’s already possible to see VR and AR games on the horizon. Social games and sports betting are also gaining space in online casinos.
Some casinos are developing platforms for consoles like Xbox and PlayStation. It’s an attempt to attract younger audiences, but this partnership also expands the options for new games.
Online casinos are living a very prosperous moment, indeed. Such prosperity is the consequence of the combination of the reasons above. The pandemic has exploded the number of online gamblers, one of the few leisure options during lockdowns. It’s a market expected to reach an even higher number in the upcoming years.