In the past three years, the online home entertainment sector has achieved unprecedented growth. From video streaming to online gambling, the entertainment industry has expanded its presence in different markets and now offers users more options to access its services. This has attracted an increasing number of customers and led to the rise of innovative market segments, such as the online casino and gambling industry.
In 2021, the online gambling and betting market was estimated to be worth US$61.5 billion worldwide. These numbers are expected to increase even further, with projections showing that they could reach US$153.6 billion by 2030. Looking at such stunning figures, it is easy to understand that the market is on an upwards trend. What made this possible?
Game variety supports online casino growth
Among the many factors that can help explain why online casinos have become so immensely popular, game variety is perhaps the most relevant. For instance, anyone looking to play online casino at Paddy’s website will find games as varied as fruit machine slots, bingo rooms and live blackjack. Hosting a wide selection of casino games to appeal to all preferences is, in essence, the online casino industry’s biggest asset when attracting new customers and maintaining existing ones.
In addition, casino software providers and developers have worked hard to improve traditional casino titles. This has been made possible by adapting existing titles to the digital world and also by expanding such games and granting them more dynamism and complexity. This has led to the development of gambling game sagas, with sequels and games inspired by other mediums in the entertainment world.
Wider access to the mobile internet helps casinos
The mass use of smartphones and the overall improvements in wireless and mobile data connections have allowed the gaming and gambling industries to promote the growth of mobile gaming. The casino industry has done this by optimising games and platforms so they can have mobile versions. This has made it possible for users to play using their phones and also to access all sorts of information related to their accounts by using casino or game apps.
Ultimately, this has been a crucial step for gambling platforms. According to several surveys, in 2020 70% of all betting revenue originated from mobile gambling.
Bonuses and special deals allow online casinos to thrive
With the number of online casinos rapidly increasing it became imperative for each platform to differentiate its products and offer perks that customers couldn’t find anywhere else. As a result, most online casino platforms began featuring welcome bonuses, special deals, free spins, and other perks.
This has made these platforms all the more competitive in their attempts to appeal to players. In a sense, such promotions are the online casino industry’s own version of a free trial, allowing users to register and gamble without having to make any deposit. Players can then decide whether they wish to continue using that same service or would like to try other options.
These are the key reasons behind the success of online casinos. In the coming years, the successful implementation of virtual and augmented reality is expected to contribute even further to the popularity of these p