Today, many people rely on smartphones, tablets, and laptops to run their day-to-day lives. That has brought forth a new opportunity for industries to adapt to the trend to stay relevant in the internet world. As a result, online casinos have risen to more prominence among gamblers. Online casinos such as the Aussie online casino offer players the convenience of gambling from anywhere anytime and access to a wide range of casino games under one platform.
Online gambling has skyrocketed in the last few years, and there is no sign of stopping. Currently, online casinos are the most lucrative in the gambling industry, and they are expected to grow more in terms of revenue and scale in the coming years, especially due to the technological advances we are seeing.
The role of technology in the growth of online gambling is unavoidable. It is currently playing a critical role in advancing online casinos into the new futuristic world. It is fascinating to learn how online casinos are setting the pace for the future of gambling.
The gambling industry in a nutshell
Gambling has come a long way. It dates back to when historians uncovered dice games, one of the earliest forms of gambling. In the 18th-century, slot machines were invented, giving rise to casinos. Gambling started as a mere leisure activity to a fully established industry in the 1970s. A man known as Harry Ogden was the first bookmaker to make profits hence changing the world of gambling.
From there, the gambling industry grew significantly but experienced backlashes and challenges with laws about using money as a stake. However, in the 19th century, the industry obtained legal recognition. In the UK, gambling stores received legal recognition in 1961, while in the US, casinos were first legalized in Nevada in 1931. Since then, the gambling industry has never stopped growing.
In the 1980s, the gambling industry achieved significant growth when the law approved television broadcasts for betting games. With the introduction of the internet in the 1990s, globalization began, and the gambling sector is one of the industries that the internet helped expand. In 1998, the first betting site went live, and the introduction of smartphones in the 2010s pushed the advancement of the industry further to what we see today.
Today, gambling has endured the test of time by adapting technology and the internet giving rise to online casinos. The recent introduction is the internet which has greatly revolutionized the way people gamble.
Internet and its influence on the gambling industry
The internet has inspired great changes in how people gamble and transformed the gambling sector into one of the most profitable industries globally. In 2015, the gambling industry was worth $41.4billion in revenue. That increased to $44.3billion in 2020 in only five years. With 2020, covid 19 pandemic influencing the growth of online gambling, experts have projected online gambling revenue to hit $66.7 billion in the next five years.
The introduction of smartphones and tablets has played a vital role in the growth of the online gambling sector. The ease and convenience of mobile phones in accessing online gambling sites have provided more growth opportunities for online gambling sites.
The internet enables players worldwide to access online casinos to play their favorite casino games anywhere, anytime. Bigger online casinos attract global players and serve them by providing hundreds of playable games all around the clock and multiple banking methods.
What is the future of online casinos?
Online casinos and technology go together when it comes to evolution. As online gambling becomes more prominent, the demand is also bigger, and players are looking for an excellent user experience in online casinos. Some trends shaping the future of online casinos include:
- Live gambling allows a player to play a casino game with a live dealer from the studio and even place bets during a live game. With the introduction of the 5g internet on the horizon, live gambling is set to be the order in online casinos.
- Crypto gambling allows a player to deposit using cryptocurrencies such as bitcoins. The power of cryptocurrencies in securing online transactions will see crypto gambling become a big thing in the next few years.
- Peripheral gambling- smartphones and tablets are not the only gadgets that can facilitate internet services. Wearable devices such as smartwatches are growing in popularity due to their functionality and versatility, and online casino operators are likely to integrate them into online gambling in the future.
Given the growth seen in the gambling industry in the past, technology will play a more significant role in the future of online gambling. The trend is predictable by reflecting on the growth in the past, and it goes hand in hand with the internet.
Technology and the internet have dramatically transformed the way people gamble. In the modern-day, a player can access an online casino from anywhere, anytime, and indulge in their favorite casino games. Online casinos have set the pace for the future of gambling and as technology advances, so does the industry.