The rapid growth of the online casino industry

Published on December 28, 2016 in Industry News

Online casino industryThe launch of online casinos, two decades ago, was met by a lot of resistance and suspicion. People treated it with extreme caution or avoided it completely because it was something unknown. Most feared that playing at an online casino would compromise their private information such as their banking details and other personal information.
 

“In recent years, researchers have predicted that 10% of adults worldwide would be involved with online or mobile gambling by 2019.”

Online gambling went from complete outcasts to slowly but surely sitting at the cool table. Many are wondering how this is possible and in this article, we will look at all the aspects that contributed to the sudden change in popularity.
 

Easy Access and Information

Accessing information on just about anything is as easy as clicking a button. With the advancement of technology, we have a variety of options on how to access information as well as how and when we gamble. One of the best things about having easy access to information is that people can look up information on any online casino in the industry and also go through online casino reviews. This helps to ease the uncertainty and fear surrounding security and safety at online casinos. 

The information found on forums by other players can also make or break a prospective players’ decision on joining a certain online casino. Many online casinos have spent the last few years building their reputations and gaining the trust and loyalty from online casino players. With increased popularity, these online casinos become the go-to for any new players deciding to join the world of online gambling.
 

The Legal Aspect of Online Gambling

All trustworthy online casinos are licensed and will have the information of where they’ve been licensed and when on their site. The growing popularity of online gaming resulted in the birth of independent watchdog agencies such as eCogra. These agencies created player dispute channels and also release independent auditing results to ensure the validity thereof. The credibility of the online casino industry has been dramatically increased thanks to information being freely provided to the public by these agencies. 

The last two years have been quite busy for the online casino industry as a lot of governments have opted for licensed and regulated gaming. Others such as the United States have chosen to completely ban it. This has led to more protection for gamers especially against shady and illegal practices.
 

Rapid Growth and Increased Revenue 

With online gambling’s increased popularity there has been a rapid growth in online casinos and sportbooks. This has resulted in a large increase of revenue and many companies have opted to expand their earnings by getting listed on worldwide stock exchanges. This move has created a more trustworthy appearance in the eyes of the public as it resulted in more transparency of the industry.

Many major financial institutions have started offering online casino operators and bookmakers banking and financing to help their expansion. The credibility of the online gambling industry has sky rocketed with the billions of dollars invested in it by these institutions.

The online casino industry is growing at a rapid rate and its increased revenues have allowed for more growth and improvement. As more businesses start investing in the online casino industry it will continue to grow along with its credibility.