How the Online Gambling Industry Has Grown Over the YearsAugust 2, 2018
The online casino industry has grown faster than many industries in the last 20 years. Let’s see how this sector has grown over the years.
The Incredible Growth
Online casinos have greatly contributed to the amount of revenue collected via the internet. The online casino market was worth tens of thousands of dollars in the 1990s. However, the industry generated a gross revenue of approximately $9B in 2008 and this amount increased to $28B in four years.
What Led to that Growth?
In the past, people who were interested in online gambling had to download casino software and most casinos provided a limited number of online casino games. Today, the online gambling market has grown because of a number of factors. For example, many online casinos have emerged making it possible for casino players to access casinos across the world. These casinos use different payment methods and currencies to facilitate financial transactions. Moreover, modern-day technology has made it possible to advertise casinos and play online games. For example, HTML5 has made it possible to access online casinos via mobile devices and personal computers.
The Future of Online Gambling
There is no doubt that the online gambling industry will continue to grow. The European market is expected to grow because of the ingenious marketing strategies and government regulations. The US market will also continue to grow and casino players should expect to see more regulated online casinos. Casinos in places like Nevada, Delaware, and New Jersey are generating a lot of money and states seek to increase casino revenue taxes.
Virtual reality (VR) in online casinos has led to a better casino experience. For example, Oculus Rift fans can play VR casino games at SlotsMillion Casino. Also, casino game providers are working hard to provide more exciting games every month.
Overall, we are happy to see the online casino sector grow so fast. We can’t wait to see what will happen in the next decade.