The global igaming market has been growing steadily for the last 3 decades and the last two years of social distancing created a more marked upward trajectory for the industry. The global online gaming market was valued at $64.13 billion in 2020 and is expected to grow to more than $92.9 in 2023.
The growth is due to a number of factors ranging from new Sloto cash casino games, an increase in the number of people with access to the Internet worldwide, new online gambling platforms and more. The market is also optimizing growth opportunities provided by the use of cryptocurrencies as payment methods and increasing investment in software and technology. Current projections are that the market will reach $112.09 billion in 2005.
According to a report from ResearchAndMarkets,"The online gambling market comprises of revenue generated by remote gaming activities by means of the internet using desktop and mobile devices. The market includes gambling establishments developing online sports betting, casino, bingo, lotteries, and poker games, among others. The online gambling laws vary wildly from one region to other. Most countries have their own local laws that deal with the relevant legal and regulatory issues. Countries such as the USA, have much more complex gambling regulatory process. Moreover, in countries like India, gambling is under strict control. With each individual country enacting different gambling laws…"
Video games offer more variety than casino games so...
Why is online casino gaming growing at such a phenomenal rate?
- Accessibility and Convenience – Convenience isn’t just convenient any more – in this day and age, convenience is an expected amenity. No gaming events offer the kind of convenience to players that online casinos provide. There’s no need to travel, no need to carry cash, no need to download software, no need to buy in-game NFTs or upgrades, no time constraints and no device limitations. All the player needs to do is to log into his/her favorite casino site and start playing. All of the games are available in the casino’s Free Mode for free gaming entertainment and for players who want to play for real money prizes, there’s the Real Mode where they can play for real cash rewards connection.
- Incentives – You won’t find the kind of incentive programs at other gaming venues as you’ll find at the online casino. Online casinos offer a wide range of promotional give-aways and bonuses that give you more gaming time and activity without the need to add additional deposits.
These bonuses can be used concurrently so after you finish with your Welcome Bonus you can go on to collect free spins, match bonus gaming points, free credits, comp points, cashback deals and more. There are daily, weekly and monthly bonuses as well as special holiday gift packages.
Best of all, whereas in a land-based casino your bonus give-aways take the form of casino gifts such as discounts on meals and hotel stays, at the online casino those bonuses are real money bonuses that you can add to your casino account and withdraw in cash. - Transparency – at the online casino everything is transparent. Land-based casinos offer many of the same games that you’ll find at an online casino but the payouts are lower because the casinos must cover fixed costs – staffing, building expenses, etc. When you play online, the entire payout is yours including the whole jackpot prize for jackpot games.
- Versatility – space concerns are one of the biggest reasons that land-based casinos don’t feature the number of games that you’ll find at online casinos. The online casino has the ability to hold onto all the old games while adding new games – sometimes several new games per month. None of this takes any space so the new games just keep increasing while the old ones are always there to go back to.
This is especially attractive to players who enjoy choosing their games from an extensive listing, rather than finding themselves limited to the “popular” games that the casino has space to add. It’s easy to zip down the list of online games on the online casino’s website and make a choice so you avoid walking around the casino labyrinth trying to find the game that meets your interest and expectations. - Anonymity – There’s no reason to justify your casino entertainment to anyone when you play online. You can enjoy an anonymous gaming adventure and gamble in private without explaining your pastime to anyone.
- Safety – Today’s online safety safeguards ensure that online casino real money gambling is safe and secure.
The online casino uses 128-bit encryption software to ensure that your personal information remains safe and secure.
All communication between the gamer and the casino is similarly encoded so you don’t have to worry that any third party is accessing your data inappropriately. Financial transactions between the gamer and the casino are encoded via the online bank or cryptocurrency payment method which means that the transactions are effected in a secure manner.
Online casinos invest heavily in the protection of their players’ data and adhere to high standards of security protocols and data privacy. Online casinos also adhere to safety standards regarding problem gamblers. When a person with a gambling problem requests a time-out from an online casino the casino automatically enters that name into their system so that they are refused service for the time that they request. Land-based casinos are notorious for ignoring self-exclusion requests which boosts
What's the Attraction?
Even with all the logical reasons for playing online casino games, why do so many people choose to play at the online casino?
The main reason is that a lot of people enjoy the interactive action of gambling. The fun of betting on the games is something that many people enjoy because it adds to the excitement of the game. There’s always that thrill that you feel when your bet delivers a payout and that’s something that all video and board games lack. When that combines with game bonuses, casino promotions and other real money returns, it’s easy to see why online gaming is so popular.
