It’s 2016 and the Online Casino Industry is Still Growing
It was in 1994 when the Free Trade and Processing Zone Act in the islands of Antigua and Barbuda licensed and granted organisations to extend their trade in the online world. Exactly 22 years later, a lot of casinos and gambling associations are open online and make their way to the homes of millions of people around the globe. Improved broadband connections and innovative software have made the online gaming experience even better.
Statista has found that by the end of the year, the industry will grow to up to 45.86% with over $641 trillion transacted each year. These figures just show that the industry has managed to grow and will continue to do so in the coming years.
What are the reasons for its success?
The continual explosion of this online activity can be widely explained by several technological advancements including the following:
Portable devices have allowed people to connect to online sites whenever they want and wherever they are. This is highly convenient for working men and women who can’t spare enough time to go to an actual casino and have fun. Instead, they can just log in a good online gambling site like zzzslots.com, choose a game, and enjoy. Since most of these sites are open 24/7, it does not matter whether they play during their break at work or just before they end their day.
- Virtual Reality
The early 21st century has shown interesting developments in virtual reality. There are now several tools that gives person an access a more immersive experience in online gambling. If you can have an almost-real experience right in your home, why do you even need to go to a real casino?
According to Newzoo, there are about 205 million people that participate or watch eSports, and the number is still increasing. Professional teams are formed to compete against each other in tournaments and betting on the outcome has become a trend. eSports has so much potential that gambling and gaming sites like Zzzslots incorporate in their platform.
What does this success imply?
The growth of online gaming has not escaped the government, of course. While it’s harder to manage law and taxation in such platforms, it’s not entirely impossible. Governments are becoming stricter when it comes to the registration of online casinos and gaming sites. On the other hand, private organizations have seen an opportunity to invest in the industry; thus, contributing more to its growth. Overall, the industry has helped boost economies of countries such as the UK, Australia, Antigua and Barbuda, the US, etc.
Since innovation is not likely to stop, there’s a high possibility that online casinos will continue to evolve. People will see games and services emerge in something more immersive and responsive. Thus, people will still not be seeing the recession of the online casino industry anytime soon.