The iGaming industry, which encompasses everything from sports betting to casino games, is expected to reach a total value of $100 billion by 2026. That figure has grown from a value of $42 billion in 2016. It’s one of the fastest growing sectors in the world but it hasn’t just happened overnight, as a result of luck. In fact, there are a few different factors that have contributed to the growing popularity in online gambling. Here, we explore them in more detail.
Accessibility and convenience
In this modern digital era, most of us are looking for ways to do things easier and quicker – and the internet has a role to play in this. Whether it’s doing the groceries, catching up on our favorite programs or even dating, technology and the internet has made general day-to-day responsibilities more convenient. In fact, as one fifth of US adults admit to being dependent on their smartphone, it probably won’t surprise you that mobile gaming is growing in popularity too.
Nowadays, individuals can play a range of games – wherever they want – and the quality is being regularly enhanced too. Smartphones and tablets mean that players can enjoy their favorite titles on the go and there’s no need for laborious downloads either – thanks to cloud-based gaming and streaming facilities. What’s more, developers are seeking new platforms for individuals to game on with smartwatches tipped to be big for the future.
Choice
85% of US adults have gambled in the last year. A huge reason for this, and why the sector has grown so much, could be because of the wide choice of games available now. Put simply, individuals typically want a title that matches their interests and, with thousands of games out there, finding one that suits your preference is more likely than ever.
There are games linked to TV series, movies and music as well as sports-based titles and even those that require critical thinking and strategy. Plus, gamblers and gamers can personalize the experience by taking their pick from platforms, music, screen view and even live dealers. Unlike brick-and-mortar casinos, players can now play however they want.
Experience
Think about why we do anything in life: because of the experience it provides and the way it makes us feel. The convenience and choice within the online gambling industry certainly adds to the overall experience but, in a highly saturated market, developers are becoming even more innovative. This results in an experience that traditional casinos can’t compete with.
From promotional offers and bonuses for new and existing customers, chat functions and more, online gambling brands are now thinking outside of the box so that they can stand out ahead of the competition and allow their players to enjoy the best online gambling in Canada and elsewhere around the world. This, again, comes down to technological advancements and the internet but it can’t be denied that online gamblers are provided with an experience that can’t be replicated.
These are just a few of the biggest reasons why online gambling has grown in popularity over the past few years. Of course, as technology gets smarter and gambling preferences mature, developers will be forced to adapt and innovate – again – if they really want to stay ahead. While this is likely to bring even more gambling trends to the market, the industry will also likely see more growth.