Not too long ago, gambling was an activity that was concentrated mostly in specific geographical areas or kept within the confines of home via online casinos accessed through web browsers and desktop apps. However, the recent advent of mobile casino gaming has brought this form of entertainment out into the world and into the hands of millions of people.
As a result, we’ve seen the industry explode in popularity, reaching an estimated market size of more than £70 billion in annual revenue. Statistically, that ranks online gambling within the top 10 largest industries in the world. So, how did this once-vilified habit become such a widely accepted and enjoyed pastime? Here are some of the factors that played a role:
More Convenient Interfaces for Gamers
As mentioned, the development of mobile apps geared towards sports betting and casino gaming has definitely had an impact on public perception. Along with the apps provided by the casinos themselves, we’ve also seen the release of related apps that are used as tools or resources during the casino gaming process. For example, the PlaynPin Bonus Tracker is an app that lets you manage many different online casino accounts within a single dashboard while also tracking the latest and great bonuses. Such technological conveniences have made casino gaming and gambling more accessible and enjoyable for the average person. Any time you increase ease of access for a specific product or service, its popularity will inevitably rise.
The Industry is Approaching Maturity
Every industry and technology goes through a period of adoption when the initial growth is slow and gradual. During this time, only the early adopters will take notice of the opportunities and possibilities provided by the new sector. Online casino gaming has been in existence since the mid 1990’s, but it was still a cottage industry up until the early 2000’s. From 2000-2010, the industry was still in its infancy – having only a small fraction of the audience that it would eventually capture. From 2010-2020, the industry has been its adolescence – making significant strides with exponential gains in popularity and profits. From 2020-2030, the online casino gaming sector is expected to approach full maturity, at which point we’ll see the industry achieving at least a third of its overall global potential.
More Lenient Regulations and Laws
Many countries are loosening their laws surrounding organised sports betting and online gambling. As a result, online casino gaming is becoming more widely accepted in may circles. In fact, the Google Play Store now allows you to download casino gaming apps directly to your Android device in certain countries. As the act of gambling on your mobile device gradually becomes legally in more places, there will be a direct correlation between the increase in liberating legislation and the popularity of the industry as a whole. Of course, many people aren’t even aware of the changes that have been made in this regard and are still avoiding casino gaming for reasons related to legality and legitimacy.
The Jackpots are Getting Bigger
Any time you have a large jackpot on offer, there will eventually be millions of people signing up for their chance to win. This lottery-like scheme makes certain jackpot-intensive games like video slots an irresistible temptation for any gamer who wants to win big. The largest online casino jackpots are typically offered in slots or roulette games. The industry’s biggest jackpot in history was about £7.3 million won through the Mega Moolah game – one of the world’s most popular variations of progressive slots.
The Experience is Designed to Keep You Coming Back
Modern online casinos are designed to give the user maximum convenience and entertainment. The developers have created algorithms to make the gaming experience relatively fair in that it is possible for anyone to win if they continue to play. In fact, the law of averages states that the more times you attempt to win, the higher your chances of eventually winning will be. This simple concept, also commonly referred to as “the number’s game” is self-evident and is the motivating factor behind the habits of many avid online casino gamers. If the casino can keep you playing enough to let you win that first prize or small jackpot, you’ll be naturally incentivised to return for more chances to win.
VR Will Make Gamified Gambling a Global Pastime
If you’ve ever seen the movie Ready Player One, then you can imagine a reality in which virtual reality (VR) becomes more appealing than our mundane existence in the real world. If and when that happens, the idea of competing for money in the virtual realm will be one that most humans will gravitate towards. This would not only provide an immensely entertaining form of gaming, but it will also give normal, non-pro gamers the opportunity to generate and win money with only a VR headset.