Video Poker Industry Forecast
In the world of casino games there are some that are more popular than others. Slots tend to be tops, as do classic games like Roulette and Blackjack. However, there is one game that has seen a significant increase in popularity in the last decade, and that’s Video Poker. Simple to play, with each round taking only a few minutes, it’s a game that appeals to a broad player demographic.
Giant companies within the online casino industry are currently driving the popularity of Video Poker, and the game is being heavily promoted. Now that we have smartphones, access to online casinos has never been easier. In 2020, the market for video poker machines was estimated to be at USD 14.7 billion globally. Within the next five years, this is expected to continue to grow significantly.
Steady Market Increase
The market has continued to increase steadily in the first half of 2021 and key players are adopting more strategies. Between 2020 and 2027, it is estimated that the Video Poker machine industry will grow to reach USD 39.1 billon. This comes as no surprise considering the fact that states like New Jersey are recording some of their highest ever profits.
China has the world’s second-largest economy. The country is expected to hit an estimated market size of USD 8.9 billion by 2027. Japan and Canada are two other notable markets, and each has a forecasted growth rate of 10.7% and 13.2% respectively. According to estimates, roughly 26% of the world’s population plays casino games.
Online Casinos Legalised In Many Countries
Naturally, the annual growth of online casinos corresponds to changes within the online space. Online casinos have been legalised in many countries around the world as it helps creates jobs and generates a fair deal of revenue. However, controls have been introduced in order to ensure responsible gambling. Over the past year, safety protocols have fallen under the umbrella of responsible gambling due to the global health crisis. This has meant that many land-based casinos have had to close, leading to further escalation of the popularity of online casinos.
In 1996, a Poker player named Huck Seed won the main event of the World Series and claimed the USD 1 million prize. These days, he makes his fortune playing Video Poker instead. In 2011, he won a jackpot of $670,665. The simplicity of Video Poker combined with the industry’s recent growth will help ensure that the future of the game remains bright.