Online casinos have been in existence since 1994. This was well before the majority of domestic houses had access to the internet, and the casinos had limited growth and income. Since around 1999, when more and more people were accessing a dial-up internet connection in their home, and more so since the majority of homes have high-speed broadband, online casinos have experienced a surge in popularity, growth and revenue.
Online casino income has enjoyed a growth of almost 10% per annum since 2009. In monetary terms, the market value has gone from £23.7bn in 2013 and is expected to hit £37.1bn in 2018.
In recent years, the inception of smartphones and tablets that allow users to access online casinos on the go, have exponentially increased the market value of online casinos and that trend is expected to continue.
The online casino model has not changed fundamentally over the past 20 years. Country by country regulations has altered the model slightly, but the basics remain the same. Online casinos such as luckystreet.com work on some of the best models in the current market. Internet gambling remains to be a popular pastime for a great number of players. The model is sustainable, with growth anticipated if the USA remove their regulations surrounding online gambling.
Online casinos have been the most lucrative business model on the internet since 2007. The increase in games offered and the availability of high-speed internet to the majority of households has seen the model grow. Although it is not a new business model, it is an ever-evolving one. Regulations being brought in on a country by country basis work to both benefit online casinos and restrict them. Whilst it used to be relatively easy to obtain a licence to open an online casino, regulations now limit the amount of those licences that can be permitted per year. Currently, there is still space on the internet for new and emerging online casinos. However, as time goes on, the restriction on new sites opening up may make it more and more difficult to enter the lucrative market.