Have you ever thought to try your hand at the iGaming industry and open your own online casino?
Online gambling first appeared in the United States in the early 21st century and has become increasingly popular around the world. According to statistics, since 2007, this industry remains the most profitable and stable.
In recent years, we have seen the enormous growth of the iGaming industry. We have also witnessed the opening of countless new online casinos, which means that the demand for online games is very high. It is expected that the popularity of online casino games will continue to grow, which is natural considering what is currently happening in the world. Of course, this trend was also influenced by the coronavirus pandemic.
But there are other reasons to choose the online gambling industry as your business activity.
So, is an online gambling business worth starting in 2021?
The gambling market is bigger than ever before
It is hard to find another sector of the economy that can demonstrate the same rapid growth rates - the online gambling industry continues to expand, and many new online casinos appear every month.
Now is the ideal moment for startups interested in the online gambling market. Even a small project launched in this market can grow into a profitable and stable business.
In the period from 2019 to 2024, the online gambling industry is expected to grow on average by 8.1% per year. The biggest growth is predicted for the online casino sector. It is estimated that the industry's revenue in this period will achieve $525 billion. This growth is going to happen due to the development of slot machines, Virtual Reality (VR) technology, and improved infrastructure in different corners of the earth.
Current statistical data perfectly demonstrate the global reach of the online casino industry and the increasing interest from customers. We can already see the first signs of this trend today if we look at the development of online slot machines. In addition, we have already seen an increase in the number of female players and the legalization of online gambling in some countries.
Convenience is the main advantage
Since online casinos first appeared, a lot of things have already changed, and now everyone can get access to online games at any time and via any device they want. For these reasons, many gamblers choose to play online. Modern online casinos offer convenient mobile applications. Players are not tied to a desktop computer and can play at any time. The main thing is to choose a quality product, as well as a reliable online casino with a good reputation. We appreciate the contribution of technology to the gambling industry as this allowed the gambling business to grow very rapidly.
Great variety of the games
The online casino is one of the most popular online gambling business ventures because it can offer users plenty of gambling options from the most popular providers. Comparing to a land-based casino, an online casino can surprise players with all kinds of games. For a land-based casino, it is simply impossible to buy such a large amount of equipment. In general, a good assortment of a land-based casinos is considered to have a hundred slots and several tables to choose from.
Everything is easier online. Many online casinos offer more than 1000 slot machines and other entertainment options such as the most popular live games and the possibility to lay in demo mode. Players will not be bored and will stay with your online casino for a long time.
Safety
Land-based casinos have a security service, a checkpoint, and video surveillance cameras. But they guarantee the safety of the visitors only inside the casino, and what will happen after the player leaves the place remains unknown.
Many players continue to choose to play in online casinos also because of safety reasons. All their sensitive data is safe, and online casino guarantees it is not going to be transferred to third parties. Special programs detect suspicious activity on players' accounts if they log in from another device. Players can withdraw their winnings, even very large amounts, using the best payment systems available online.
The house always wins
Some of the players may win from time to time, but the edge of the house ensures that you always will have profit. ‘House edge’ is defined as the security of profitability built into every game in the online casino. This is expressed as the percentage of the player's original bet.
Interesting facts:
- Every year since 2016, the online segment grows by 5.7%.
- The British research center Juniper Research Center conducted an interesting study according to which, the volume of online bets in 2022 will be one trillion dollars!
- Also, the Juniper Research Center has calculated the number of player accounts - 684 million gamblers will choose to play online in 2022.
- iGB Research Center has calculated the turnover of the iGaming industry for 2023. They predict an impressive amount of 37 billion euros.
Final thoughts
The iGaming industry continues to refine and develop to meet the demands of modern players. Gambling is entertainment for those who want to try their luck, experience the thrill, and win.
Being a legitimate and licensed online venture, gambling provides a very profitable business model. Online gambling perspectives are great as it continues to develop its offer and invents constant changes to comply with regulations and keep the industry safe and profitable.
Although many countries in the world restrict online casino services, some of them have already changed their laws and have started to allow these services with very strict regulations. Such changes only show how much the iGaming industry has managed to grow and expand in recent years.
We can conclude that online gambling will only develop. It should be noted that online casinos are not the only ones that are currently experiencing a period of active growth. Cyber-sport is also spreading everywhere and is already almost on the same level as football and other popular sports. The digital era brings up a lot of advantages and different ways for large market players to make a profit.
Are you ready to start your online casino? Contact us now to find out how you can do that much faster and easier.
