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Online gambling has grown rapidly in the last decade

Fri, Feb 1, 12:15pm by Staff Writer

The gambling sector has transformed itself within the last 10 years thanks in large part to technological advancement. Online gambling has totally revolutionised the industry by allowing a once remote sector to bolster its market share.

In the United Kingdom, online gambling brings in more than one third of all gaming revenue, making it the largest gambling income stream in the region.

Online casinos have many advantages compared to their land based rivals, with the biggest of them being the ease with which customers can access games.

Players are able to gamble on the move or from the comfort of their own home.

Casino technology has improved so much in recent times that players are finding games to be better and faster than ever at online casinos, according to TechGuide.

At the forefront of the online gambling movement are live casinos, which pair players with dealers in real-time, adding the human element that was once missing from online gambling.

This gives players a ‘personal touch’, while affording players the opportunity to use strategies that wouldn’t be possible with online games, such as card counting and judging ball velocity in roulette.

The casino industry has always had its eye on technological advances as a way to make more money.

Video poker was the first fore into this field, but it wasn’t until 1996 when the industry first delved into online gambling.

The first ever online gambling software was created in 1994 by developer Microgaming, but the first bet wasn’t accepted online until 1996.

InterCasino open it’s Internet doors and offered customers the chance to play 18 casino games from the comfort of their own home in 1996, being the first site to offer this service.

Asia-Pacific’s online revenues expected to grow faster than other regions

Since then, there is a litany of online casinos, with companies developing their own software and offering their services to the market.

Digital technology has changed rapidly with the advent of online casinos, with better graphics, faster speeds, virtual operators and an unlimited variety of games.

This has led to a spike in revenues for the online gambling market and they are expected to continue on this upward trend.

Mobile World Live has reported that the predicted global mobile gaming market alone will generate $58.71 billion in revenue by 2023, growing at a compound annual growth rate of 9.4 per cent from 2017 to 2023.

Research conducted by BIS Research established the figures that also include an assertion that the Asia-Pacific gaming market will witness the fastest growth of any other thanks to improving Internet connections and availability of low cost smartphones.

One such example is the Indian mobile gaming market, which is expected to grow 28 per cent in the next five years.

A rising level of income in the middle class population and young people looking for alternative modes of recreation are also contributing factors to the growth.

The report notes minimal capital requirements have led to an influx of mobile game developers. This, coupled with secure payment gateways, availability of a diverse range of gaming options and the rise of augmented and virtual reality has helped to boost consumer interest.

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