November 26, 2020

Is iGaming the Next Gold Mine?

It’s been over two decades since the start of the online gambling world. With the simultaneous advancement in digital technology, online gambling has also been slowing picking up. Currently, several online casinos and casino games are being launched on an everyday basis. The casino operators are not doing it for the sake of launching. In fact, there is heavy demand from the players as well.

Punters across the world are looking for something new every now and then. From launching slots to casino games, live casinos and much more, the operators are coming up with fresh approaches continuously. So is iGaming the next gold mine or just a wave that will pass by? Let’s find out!

How has the iGaming industry fared so far?

It all started in 1994 when the first online casino was launched. It was safe to use and the punters wanted to try something new. Microgaming was among the first casino game developers which offered interactive gaming experience to the punters. 

Then slowly various companies started launching their own new online casinos when game developers were already busy developing gaming software. Early forms of online gambling included slots, sports betting and few other casino games. Later on, lotteries, bingo games, scratch cards etc were included on the online platform. 

These games alone offered enough profit for the casino owners. Statistics show that the online gambling estimated revenue of $21 billion in 2008. 

Over time, live casinos and mobile casino came into form. The live casino offered punters with a closer experience to that of land-based casinos. This made online gambling even more engaging which increased its fan base. 

As for mobile gaming, some casinos even have launched their own applications giving users better gambling space online. Some of these applications work on both Android and iOS to cover more user base. 

Introduction of Jackpot Games and Various Payment Options

iGaming developers also began including games that offered tantalising jackpots to lure punters onto the online casinos. At the moment, you will find at least a few jackpot games on any online casino for you to play. While not all the punters are able to win these jackpots, the desire to achieve it has driven many to these online platforms. 

By now online gambling is not restricted to any particular region or country. It is not just European or American gamblers that are taking advantage of this. It has spread across continents offering fantasy gambling opportunities for users from various cultural backgrounds. 

Accordingly, you will find different banking options availed for deposit and withdrawal transactions for punters from different regions. Different payment methods not only offer confidence in players to make transactions at online casinos but also give a sense of security.

All in all, the online casinos too benefit from all such opportunities. As of 2020, the online gambling market stands $66.7 billion globally and is expected to rise to $92.9 billion. 

So yes we can safely say iGaming is the next gold mine which is already being explored!

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