Only several decades ago, if you wanted to play a casino game, you had to be physically present. You needed to take a long way around and travel to your nearest brick-and-mortar establishment.
Even if you did, some places didn’t even have proper gaming spaces. Most had a limited range of games and were usually limited to simple, mechanical slot machines with attached handles. Those slot machines were prone to mechanical problems, so often, players were highly dissatisfied and left with an empty pocket.
Today, online gambling has become one of the fastest-growing tech-driven sectors. This industry was worth nearly $262 billion in 2021 on a global scale, and the number is increasing further as global digitalization takes over.
Today’s growth is driven mainly by the rise of online casino websites and app-based platforms. At the same time, innovations and technological advancements promise further opportunities for growth. What other factors are contributing to the exponential growth?
Factor 1: Transparency
Slot machine fans understood that old casinos had a mathematical superiority, as the winning opportunity remained a trade secret in real casinos.
Today, the implementation of the Random Number Generator (RNG) coding system guarantees fair play, which is what players need. In other words, the system ensures the randomness of the outcomes, meaning no game is rigged.
What’s more so, each game has a publicly disclosed Return to Player (RTP) percentage. The RTP shows a theoretical number of how much you can win over millions of spins. While it’s hard to know the exact RTP on a land-based slot game, all online reel machines contain this information. This is one of the contributing factors to the growth of the iGaming industry as a whole.
Factor 2: Ease of Use
Gambling sites are much more accessible than traditional gambling facilities made of bricks. Compared to their “analog” predecessors, digital ones may lack the social aspect, but you no longer have to wait to catch a free seat.
Instead, you can use your mobile phone, PC, iPad, or notebook on any online gaming website to play slots, live online games, wager on sports, and much more as technology rapidly advances. You can do this from the convenience of your residence or while on the go.
Internet coverage and speed in today’s digital era open numerous possibilities, and it has reached places that we’d have never thought possible. This is what helps the number of users grow on a daily basis.
Factor 3: Lucrative Bonuses
Online casino operators know that they can combine virtual coins and real cash to generate a variety of bonus offerings for their customers, and they provide more bonuses for the growth of their business. First-time welcome bonuses are usually the most appealing among players, especially no-deposit deals and they attract more customers.
Moreover, numerous loyalty programs are used by iGaming websites to draw in more customers. AI apps often are coded in a way to record loyalty and produce behavioral patterns of customers to improve their experience and decide which type of bonuses they are offered in particular games.
Factor 4: Variety of Gaming Options
Online casino sites offer countless varieties of games. They’re fun, thematically diverse, have enormous winning potential, and are easy to find with the help of advanced filters and search bars.
You can find thousands of slots, table games, live dealers, scratch cards, keno games, and even live dealer game shows. On some sites, the number of game varieties can reach a 4-digit number, which is unimaginable in real-world casinos.
Another reason why the online casino industry is experiencing rapid growth is the quality of the games. This is mainly a result of the now-established software providers.
Factor 5: Technological Advancements & Advertising
We are constantly witnessing the emergence of new technologies, but their daily use can be rarely seen in land-based establishments. On the other hand, players can already see how AI is redefining the concept of VIP schemes, and we expect to see the same with the games.
Some online casino providers have already merged Virtual Reality (VR) technologies with their existing games, while others are introducing Meta realities.
Advertising through brand partnerships and celebrities is another huge factor that brings new customers and increases revenue. However, online casino advertising is not contained in a legal frame in most states yet.
Online casinos have grown exceptionally fast over the past few years. Some of the main factors are transparency, AI technologies, fantastic bonuses, a variety of options, and top-notch loyalty programs. Moreover, the iGaming sector has greatly improved, now offering maximum safety encryption.