What is the future of online casinos you ask?
Internet gambling or online gambling came to life in 1994. When the government of Antigua and Barbuda decided to expand its legislative family by passing a law that allowed for licenses to be given to companies that were applying to run/facilitate online casinos, the first few online casinos were born. Online casinos quickly popped up all over the world, due to the ease of setting up. All you have to do is get a casino license in a certain country and then operate from wherever you want. An example would be Oshi. They have a casino whose headquarters are in London. But they are licensed to operate as a casino online, by the powers vested in the laws of the government of Curacao.
This industry has seen unparalleled growth ever since its inception. This is probably one of the biggest incentives for new entrepreneurs in this field or investors alike to join in. Between 2016 and 2020, CAGR estimates come in at between 9-11%. These are incredible numbers, not only for this industry but any industry in general, in these unforgiving economic times. Online gambling is expected to reach between $56-100 billion in the next few years. A large amount of this is apportioned to online casinos as the main cause.
Crucial to the superlative and intense growth that make this industry is, the fact that, there is constant innovation. Whether that be in the form of new games being pushed out every so often or new developments in technology made to facilitate the never-ending increase in demand for these games and platforms.
Online casinos are incredibly versatile as opposed to their land-based counterparts in that, they are able to operate cross—platform/across multiple devices and easily so, depending on the amount of effort a casino puts into their website. With the increase in smartphones across the world, it is no wonder that most online casino are making, or have made, the move towards engineering a well-functioning mobile platform for customers to gamble on. With continuous iOs and Android – Betacade – developments, looking to better facilitate these casinos, mobile casino gaming is here to stay. Aside from the convenience that it offers, mobile casino gambling looks as if it will be a cheaper alternative. However, debates are always ongoing as to whether or not, mobile gaming will ever become more, if not just as, popular as online casino gaming via desktops. For now, research suggests that mobile casino gaming is dwarfed by its counterpart.Other elements play to reinforce the future of online casino gaming. One such element is Bitcoin.
Bitcoin at Online Casinos
Bitcoin is a digital currency that is decentralized. This means that nobody owns the currency. Everybody that trades in it, is solely responsible for their transactions. Its allure lies in the facts that there are little to no transactions costs, and, deposits and withdrawals are extremely fast and easy. Another advantage is the anonymity that accompanies it. This is one of, if not the most popular factors, that is known to influence online casinos to adopt Bitcoins as a source of payment. The move by the government of the United States of America, arguably the most powerful government in the world, to create regulation around Bitcoin only underpins its legitimacy as a currency. Online casinos like Crypto-Games and 7bit are amongst the forerunners in offering casinos that deal almost exclusively in the cryptocurrency.Like sizzling popcorn kernels, Bitcoin casinos are popping up, with people commenting that there might be a little bit of saturation within the market. Within the Bitcoin online casino market, I am not too sure. However, in terms of the whole online casino market itself, there would lie, a good amount of objective truth. With growth rates for the industry such as those mentioned above, coupled with other predictions, one would be an excellent fool to say that there is no saturation in the online casino market, even if it may be a fledgling saturation.Private equity funds are slowly finding solace in online gambling, having seen its worth.The indication of investors wanting to join into an industry is always a good thing. Particularly because investors tend to flock to an industry after having vetted it, usually over a period of several years. Thus further reaffirming that online gambling has earned its stripes as a reliable, legal industry to engage in, from any perspective. Due to the fact that it is constantly growing, jobs are always being created, especially by opportunistic entrepreneurs.
Online Casino Software
Some of the big players in the online casino industry include legends like Microgaming, Betsoft, NetEnt and Real-Time Gaming. Given their time in the industry, and constant quality output in software and games, it is no surprise that the industry is dominated by these guys.New kids on the block are popping up all the time, however. The beauty about this industry is its constant progress, whether that progress is at times slow or not, is another story. But the point is, online casinos always adapt to changing times. Although, in this arena, governments are usually seen as antagonists of online gambling casinos and gambling in general, the increased regulation which those whose jurisdictions allow it, further shows the legitimacy of the industry in the eyes of the state.
Given the relative infancy of the online gambling industry, more specifically: online casinos, and the constant shock that it bestows upon people, even industry insiders, in terms of growth rates and popularity; it is easy to see why the future of the online casino industry, really is unpredictable. More and more governments are easing towards the acceptance of online gambling – most recently South Africa. Like a well-oiled machine, from the software developers, the entrepreneurs who set up the various casinos, to the forward-thinking, non-discriminatory governments that disperse gambling licenses to companies who wish, all the way to the customers who play more and more, everyday, the vehicle of online casinos stands set, to ride far into the horizon that is its future.
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