General

A global industry: How the online casino sector is still thriving

Over the last decade, technology has really developed, in which the digital revolution has meant that organisations from all sectors have been able to grow, expand and adapt. Operating in a global village of sorts, companies are now able to reach different demographics of people that once would have never of thought of using their services, and this could not be truer for the online gaming sector. As land-based casinos have slowly declined across the globe, the uptake of online casinos has been rapid and successful, in which today’s market is completely saturated by a variety of innovative online casino providers.

There’s no denying that 2020 has been a challenge for the global economy, whether businesses are land based or operating within the virtual sector. So how has the online casino sector managed to thrive?

Expansion on a global scale

Statistics show that the global online casino market is currently valued at more than 59 billion US Dollars, with its’ worth being expected to double in the coming years. The rise in global success is thought to be attributed to technological development that has enabled more people than ever before to be able to access such services. Thanks to the likes of smart phones and tablets, as well as affordable internet connections and public Wi-Fi, people from far reaching corners of the globe have been able to access online casinos sites that were once unreachable to them.

The UK are thought to be leading the way in the online gaming market, in which the sector is highly saturated by successful online casino operators from the UK and outlying territories. What’s more, it’s thought that the Britain is the most dominant nation when it comes to people participating in online casino games.  Statistics show that 6% of consumers that are aged between 25 and 34 and 45-54, visit an online casino at least once every 90 days. Some of the most popular games include online poker, bingo, sports betting and lotteries.

Online casinos are popular on a global scale, with many citizens across the world playing casino games online in different countries.

The convenience of online casinos

While nothing quite beats experiencing the glitz, glamour and atmosphere of a brick and mortar casino, the needs of today’s consumers are vastly changing. Today’s gamers no longer have the luxury of time, in which they value convenience over experience and good customer service over traditional brand loyalty. Some of the main perks of opting for an online casino include –

  • More game variety – With physical space not being a problem, online casinos can offer a huge variety of different casino games. Providers such as 888casino Canada are able to offer a huge variety of games while utilising the latest gaming and software technologies to provide an unrivalled experience. Whether you’re looking for the latest slot games, poker rooms or blackjack tables, reputable casinos such as this are hugely popular.
  • Larger pay-outs – While casino providers no longer have to pay costly rates to rent or buy physical venues, they are able to offer more bonuses and larger jackpots. In fact, statistics show that many online casinos now have a pay-out rate of 95% or higher.
  • Convenience – Online casino players are able to access games at any place and anytime that suits them, whether that be on the train on the morning commute, or simply on the sofa at home in their pyjamas. The modern convenience of being able to deposit funds and play these games at the tap of a button is highly appealing and beats having to spend an evening planning going out to a physical casino venue.

The popularity of online casinos is mainly due to the convenience of the games and how players can play anywhere and at any time.

Building a sense of community

While research still remains scarce, there is an increasingly associated link between online casinos success and having a sense of online community, which many online casinos facilitate. More so than before, with the global restrictions in place of entertainment venues this year, having and maintain a sense of community has been more important to people than ever before.

Online casinos offer a range of features, from leadership boards that enable people to unleash their inner competitive spirit, to online chat rooms that enable people to build friendships and socialise over their mutual interest and enjoyment of casino games.

It seems that for online casinos to continue to flourish, the community aspect will be a big part of an online casino’s success.

Online casinos in Canada

While Canada has a rather complex history with gambling, due to laws, which can often be open for interpretation, the online casino sector in this region is still thriving. While it may be illegal for Canadian casino venues to offer their services to Canadian citizens online, offshore casinos are able to. Statistics suggest that the Canadian gambling industry is now worth in excess of 30 billion Canadian Dollars per year, indicating that the locally governed laws in each region have still allowed the industry to grown in a controlled way.

With more and more Canadian provinces now lifting some of the crippling gambling restrictions that have limited the industries growth in this region for a number of years, the possibilities are becoming endless. What’s more, while 2020 has been notoriously tricky for the global economy, it seems that the online casino industry has been one that has benefitted greatly. With more people at home and needing to find something to do, online casinos have been a hit.

About the author

Avatar

Steve Murphy

Steve Murphy has handled various businesses throughout his career and has a deep domain knowledge. He founded Report Door in an attempt to bring the latest news to its readers. He is glued to the stock market most of the times and just loves being in touch with the developments in the business world.

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *