The Unstoppable Growth of Online Gaming
Over the past decade alone, the online gaming world has expanded exponentially, with the industry valued at an unbelievable $41.78 billion by the end of 2016. This figure is set to reach $80 billion or more by the end of 2020, while 11% of total Internet traffic currently stems from online casino players.
However, it is not just the remote gambling industry that has enjoyed such a boost. There is plenty of evidence to suggest that iGaming appeals to more than just those who have never gambled before as a convenient and immersive way to bet. Thousands of existing land-based bettors are also embracing digital technology, while still enjoying their visits to physical casinos and betting outlets as well.
When looking at the global industry, it is easy to see why Internet-based play has enjoyed such rapid growth. By the end of 2017, the industry had hit a record-smashing $107 billion – more than the world spent on music and films combined. The main reason for the soaring popularity is due to massive technological advancements over the past few years, including particularly an improvement in mobile technology. As accessibility and connectivity have improved, the number of players who have access to on-the-go remote gambling has also increased hugely.
The Mobile Explosion
Gaming has migrated very successfully from PCs and consoles to mobile devices of late, with mobile gaming becoming the industry’s fastest growing sector, making up almost 45% of the global market and worth $47.5 billion. This is an increase of more than 20% in the space of a year, which was achieved through mobile devices making it easier for brands to market to potential players wherever they are.
Furthermore, as mobile gaming has become more popular, the market’s saturation has actually helped to improve the industry. As player pools have grown, so too have payout rates improved, along with the availability of niche betting markets and casino games to appeal to as many punters as possible. Even the number of women involved has now increased, as women statistically seem to prefer mobile devices as their gambling conduits and prefer playing in private as well.
Games for Every Demographic
Yet another contributing factor to recent growth is its appeal to a wider range of demographics. Older generations are becoming more and more au fait with modern technology, and are participating in virtual gaming far more as a result. This is also true for younger generations, who have grown up with mobile technology and are exceptionally comfortable with using it for gambling-related entertainment.
It is these technological advancements that have ultimately allowed the online gambling industry to grow to where it is now, as well as a massive range of games and software to suit every player’s needs. Furthermore, thanks to newly emerging markets and iGaming’s widespread appeal, the industry will no doubt continue to thrive for many years to come.