Bookmakers and online casinos began entering the scene during the middle of the 1990’s. The belief is the industry has boomed due to the smartphone. The estimated value of the online gambling market in 2009 was £14.3 billion globally. This increased to more than £32 million in 2017. The industry has tripled in size in eleven years and is expected to reach a value exceeding £40 billion by the time the decade ends. The online gambling surge is parallel to the accessibility of internet capable devices. This is especially true of the smartphone. These devices have increased the popularity of online gambling through online casinos and sportsbooks. The innovation in the industry has also had a key role.
A good example is the casino arena. Players have access to virtual computer type games and live casino dealers through a live video feed. These advancements in technology enable players to enjoy a more immersive and social casino experience. Communication between the dealers and players is enabled with a live chat function and bets can be placed on games including blackjack and roulette. This provides many players with a degree of trust. These players see a real deal instead of a computer simulation.
The live casino feeds may be a stepping stone to a more immersive player experience through virtual reality or VR technology. VR will provide players with the ability to walk around the casino as if they were really there. They can communicate with the attractive croupiers while enjoying their favorite games. The mobile experience has also improved in other areas within the industry in recent years. This is mostly because the online casinos have realized the importance of a good experience for the mobile user for their bottom line. Games have been developed by numerous software companies with an approach putting mobiles first. Since in excess of sixty percent of online gambling happens on a mobile device this is an excellent move.
Mobile devices are also playing an important part in online sports betting. The way people play is being changed with live betting functionality. This additionally brings the industry a new audience. This audience may not be interested in a high street bookmaker but are happy to engage with their phones. The draw is being able to make sports bets at any time from any place. Football fans can watch their team at the stadium and place their bets as the game unfolds. Other fans can enjoy a tasty beverage from their living room while placing their bets.
Online gaming is definitely changing. The growth of the industry is immense due to technological leaps, customer friendly innovations and previously unreachable masses now having easy access due to the online era. The growth of the online market has been one of the last decades biggest success stories. The revenues during this period have tripled. The question is if this immense growth can be sustained well beyond 2020. As the regulations for the industry continue to tighten it presents an enormous challenge for the industry.