Online gambling has always been popular since its inception in 1996 and since then has continued to grow at an astounding rate, gaining more popularity with each passing year. Only 5 years ago, in 2015, the size of the global online gambling market was worth $41.4 Billion, today it is worth almost $59 billion. The rise in popularity can be directly linked to the advances in technology. These advances have allowed laptop users to experience the same state-of-the-art visuals that only traditional desktop computer users would have been able to enjoy a few years ago. Moreover, these same games are available on smartphones, and more recently smartwatches, expanding the market even further.
Since the beginning of the lockdowns in several countries caused by the COVID-19 pandemic, traditional casinos have been closed. This has given many dedicated players around the world the opportunity to their hand at online gambling. New players have also joined the frenzy due to boredom and have found thousands upon thousands of casino games they may not have in traditional casinos. Because of this and other factors, the online gambling industry is expected to see a growth of 8.1% between now and 2024, and is estimated to be worth $92.9 billion in 2023.
COVID-19 Keeping People Inside
With thousands of people stuck inside their houses because of lockdowns and practicing social distancing protocols, it’s no surprise that people have turned to online casinos to enjoy their favorite pastime or placate their urge to play. And it’s not difficult to find an online casino if you’re new to playing with the availability of thousands of online casinos to choose from. Many casinos have generous promotions available as well. At the time of writing this Casino Secret is currently offering a $66 no deposit bonus. Although, this sure to change at some point so it’s better to check a more up-to-date article like this one from Japan 101 which will always have the most current offer from Casino Secret.
Reduction Of Sporting Events
With the suspension or cancelation of major sports events, not limited to the Olympics which was supposed to occur this year, a large void has been left for many gamblers and sports fans to fill. Sports betting generates roughly 42.5% of gross gaming revenue which is more than what casino games generate at only 32.5% in comparison. This has lead millions of sports fan and gamblers to participate in virtual sports betting which has increased in popularity since the beginning of the COVID-19 pandemic. People are also dealing with anxiety, boredom and stress from being cooped up all day and as a result screen time has increased, leading more people to try out alternative sources of entertainment. The closure of physical casinos has allowed the online casino industry to flourish even more than it already was before.
One of the most beneficial aspects of online gambling is the convenience that it provides. The benefits provided from using online casinos are even more apparent now with people staying home and practicing social distancing, since physical casinos were closed due to being a hotspot for the spread of the virus, while online casinos had no such problems. Online casinos allow players to play from the comfort of their own home, in whatever attire they choose to wear. Even before the pandemic, online gamblers were enjoying the benefits of playing online, such as not having to travel to physical casino, or having to wait until they were open as online casinos are available 24/7 The use of smartphones to gamble offers many perks, especially during lockdowns, such as an uninterrupted internet connection through mobile data, and the ability to move around the house freely while gambling and doing chores or watching television.
The biggest benefit to all players are the thousands of games available on online casinos. There is a game for everyone, and most of these games are created by the best software developers in the industry. They contain stunning visuals, great sound and immersive gameplay. They provide players with the opportunity of being social while playing as well as proving a real casino experience. Some players prefer the game modes available online compared to traditional casinos, and with the introduction of virtual reality technology, the casino is now really being experienced from the comfort of the home, while still providing the same variety online games. The world’s first virtual reality casino was released a few years ago, and today contains over 3000 games for players to enjoy, as well as a bar area and the ability to see and communicate with other players. Online gambling has never been so immersive.