The Rapid Growth of the Online Gambling Industry In Last 5 Years

Online gambling is probably one of the favorite activities around the globe. People often log in to their accounts on different gambling sites to make their free time more entertaining and potentially earn some money. However, the gambling opportunities that we have today did not exist only 20 years ago. The entire industry has gone through a rapid development process that brings a wide range of benefits to all the players. 

The reasons why this industry improved that much in the last 20 years is pretty simple to understand. First of all, online technology has improved a lot. People are spending more time in front of their smartphone screen and watching movies, listening to music, and chatting to people. In other words, millions of people started to look for entertainment in the online world.

Yet, gambling is special and different from everything else that online gambling offers. It is one of the rare entertaining activities that can also help people improve their financial stability. That is the reason why more and more people were attracted by the fact they can earn some money and have fun while spending time at home. 

The good news for people is that more and more gambling site owners were aware of the requirements and expectations that people have. That is the reason why they invested a lot of effort to ensure a safe and comfortable gambling experience

The Gambling Industry Improved a Lot Especially In the last 5 Years

The improvement of the gambling industry has been especially visible in the last 5 years. It would be unfair not to mention that pandemic has also influenced its popularity. People had to spend time at home, and the only thing left during lockdown is to find something online that will entertain them. It seems that gambling was one of the most common options for many. 

Let’s talk a bit more about numbers. The value of the USA gambling market was nearly 42 million dollars in 2016. Today, while you are reading this article, the value of this business field is around 261 BILLION dollars. 

Despite the USA, it is worth mentioning that the same trend is visible in UK and Australia. For instance, around 1/3 of the population in the UK is gambling regularly (at least once or twice per week). On the other hand, in Australia, around 80% of the population is gambling at least once a month. 

So, which changes were the most influential ones?

If you want to understand the rapid growth of online gambling even better, it can be useful to check out the main changes within the industry. 

Influence of Cryptocurrencies

As mentioned, gambling sites such as did (and still do) whatever it takes to make their customers satisfied. That is the reason why they won’t hesitate to follow the latest trends in the world. One of the trends more and more casinos are applying to their casinos is cryptocurrencies. 

People now have the opportunity to gamble with Bitcoin, Ethereum, and other altcoins popular in all parts of the globe. The reason why crypto-based deposits and withdrawals made the industry more attractive is simple. They are safe, reliable, and often quick as most transactions end up for a couple of seconds. 

Live Games

The reason why some people stayed “loyal” to land-based casinos is interaction with other people. Some people are not even impressed with games themselves. Going to a casino is a place where they love to gather with their friends and test their luck and skills. However, it seems that many gambling sites have become aware of that as well. 

In today’s world, more and more online casinos are offering live games. For instance, you may have the chance to interact with the real-life dealer while chatting with other participants. If you put your headphones on while gambling, there is a big chance the entire gambling experience will be too realistic. 

Cybersecurity Has Improved a Lot

Another reason why only 5 to 10 years ago people didn’t want to gamble online is the sense of insecurity. People need to provide some data such as personal name, credit card number, and others when registering to account. They would do that without any hesitation only if the gambling site can guarantee security. 

Luckily, cybersecurity has improved as well in the last 5 years. Most professional casinos invest a lot of money to improve the protection of the platform and protect people from any type of cyber threat. Logically, this improved the conversion rate as well as the popularity of the entire industry. 

Virtual Reality Is Present at Gambling Sites

As mentioned, live dealers have made online casinos more entertaining. People can interact with real people in real-time and test their luck that way. However, there is another modern innovation that appeared within the industry – VR technology. 

Different devices such as electronic gloves or even googles can make the gambling experience more enjoyable. When you spend a lot of time at the gambling site, there is a big chance you will even forget you are gambling at home. The view is 3D and it allows you to enjoy most games that gambling sites offer. 

AR Technology As Well

The combination of VR and AR technology is probably the best “cocktail” that you can drink. The purpose of AR technology is to make gambling even more realistic. You will feel like you are in a land-based casino surrounded by crowds and noise. This is only one more reason why the gambling experience has experienced such rapid growth. 

Final Thought

We have finally come to the end of this article. As you see, there are many amazing reasons why the gambling industry has experienced rapid growth. Just like popularity, the revenue that this industry gets is increasing. As the matter of fact, the same trend will continue in the future. 

Will all casinos offer you a pleasant experience? Unfortunately, the answer to that question is “no”. They can look similar or almost identical, but those tinniest differences are those that you need to explore. That is the reason why you may want to check out after reading this article and read a couple of reviews about different gambling sites. You should always check out bonuses, promotions, the number of games, and other relevant factors. 

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