If there is one business that has been growing steadily over the years, it must be online gambling. Digital casinos are becoming more popular every day on nearly every continent for a number of very specific reasons.
According to the report, the gambling market is projected to increase by $82 billion in the next three years, progressing at a CAGR of over 10% during the forecast period. The question we get to hear a lot these days is: Will the global casino market continue to grow?
The numbers obviously prove the positive trend, but we want to explain how new technologies and other factors influence the evolution of online gambling. Keep reading to learn more about it!
Where does the casino market grow?
Although it seems like a very simple question, we can actually answer it in a few different ways.
First of all, the casino market is thriving online. Digital gambling apps and platforms have become available all over the world because of the Internet, which means that the online realm is the first answer to the WHERE question.
Secondly, we can conclude that gambling is on the rise almost everywhere on the global scale. We are talking about a steady growth on nearly all continents – North and South America, Europe, Africa, and Asia. That’s the power of online gambling as it transcends borders and influences every part of the world more or less equally.
And thirdly, it is important to emphasize that some countries proved to be genuine leaders when it comes to the adoption of online casino businesses. Great Britain is known for a strong virtual gambling system, which is why people often search for the best casino online UK online. Mainland Europe is also prone to Internet gambling, particularly in countries like Germany, Sweden, and Italy.
Of course, we must not forget Canada and United States. The former is already a superpower in terms of digital gambling, while the US promises to become one in the next decade. Besides that, the Asia Pacific region is also growing because its countries have always been high-tech frontrunners.
Key factors that give casinos a big boost
A lot of things make a substantial impact on gambling, but only a few of them can be considered game-changers in this area. Let’s take a look at the five most important features that boost the growth of the casino industry.
- The Internet
The Internet is the main precondition for the development of the entire online gambling industry. Without it, online casinos would not exist and we would still be stuck with traditional gambling outlets. Today, the global availability of Internet connections makes digital gambling more accessible than ever before.
- New technologies
The Internet represents the first piece in the puzzle, but new technologies keep the trend alive and kicking in the long run. From desktop computers to smartphones, online gambling has been getting easier and more comfortable in the last 20 years. New technologies make it possible to play casino games whenever you want and from wherever you feel like doing it.
- Marketing technologies
Tech advancements impact marketing as well, so now casinos have superior promo tools to attract new players on a daily basis. Personalization has become a big deal in modern marketing since gambling platforms can design bonuses and promo offers that match a given user’s personal preferences.
- Game design is improving
Another thing that helps the rise of online casinos is game design. The situation is simple here – casino games are getting better and more interesting, which is a true magnet for younger generations of users who always look for fresh gaming solutions.
- The coronavirus pandemic
The last item on our list has nothing to do with casino technologies, but it indirectly gave a huge push to the gambling market. In the time when traditional casinos were closed for COVID-19 restrictions, online platforms experienced unprecedented growth.
The bottom line
You don’t need to be a financial analyst to figure out that the gambling market is growing. With all the commercials and marketing promotions on the Internet, it is clear that virtual casinos are doing just fine these days. But the question of why this happens is troubling the minds of many users, so we gave you an overview of the main factors that contribute to the growth of the global casino market.
The bottom line is that new technologies keep reshaping casino businesses in a way that helps them remain relevant and useful even for new generations of gamblers. It’s an ongoing trend and we don’t see it stopping any time soon. How about you?
About the Author
Emma Rundle is an online gambler and a blog writer who creates articles about gaming, sports betting, and casinos. She is particularly interested in tech innovations that make the gambling industry possible in the first place. Besides that, Emma loves horse riding and reading French literature.