Online gaming industry experiencing fast-paced growth

Published on July 13, 2016 in Industry News

Online Gambling IndustryWith all the uncertainty and gloomy predictions regarding the economy in the UK there is one industry that is going against being cautious and kicking it into high gear – the gambling industry.

The UK Gambling Commission has found that during April 2014 and March 2015, UK casinos generated a gross profit of £5.4 billion. Online gambling has proven to be most profitable during this time as it was one of the many gambling fields that stood out when this overall income was calculated.

One of the many reasons for this new burst of interest in online casinos is the constant improvement of technology. In this day and age smartphones and other portable devices such as tablets and notebooks make it easy to connect to your favourite online sites at any time of the day or night. 
 

“A new wave of 360 degree videos and virtual reality are in the pipeline to provide players with a more entertaining experience.”

Thanks to the advance of technology on a daily basis, online casinos are definitely a popular business to watch especially with new developments coming to light.
 

The rise of eSports

Growth in eSports has skyrocketed recently with the reach of the industry stretching across the globe. Research company, Newzoo, said that more than 205 million people took part in or watched eSports worldwide in 2014. Those who watched also place bets on the outcome of these video games championships. With the growth in popularity it could potentially be a huge new revenue earner for the online gaming industry.

One of the best thing about online gaming is that once you start, you’re introduced to a world of possibilities. This could move you to try out other types of games such as online slots. Even the UK government has seen the potential this industry has to offer which is why earlier this year they said that they would invest in start-ups for this sector too.

The Video Games Prototype Fund of £4 million is reserved for smaller companies that need a head-start on developing new games and technologies. The UK is littered with game companies all over the major cities and this is bound to boost the economy country wide. Manchester is especially grateful for this announcement as they’ve been asking for help in this sector for quite some time.

The online gambling industry is only headed in one direction and that’s up. A steady and fast-paced growth means that that gambling and online casinos will be around for a very long time.