The development of Internet technologies has had a positive impact on all industries in the world. The online casino industry did not stand aside because technological progress in this area has led to significant positive changes, an expansion of the range of entertainment. There are also other factors that have influenced the popularity of gambling.
The technological breakthrough in the industry has not only allowed gamblers to completely move to the beattheodds.bet online casino and gamble using any Internet-connected device. The number of various types of entertainment options has increased significantly. Some of them are innovative even for the actively developing Internet environment. This review will focus on the structure of world gambling, growth trends, and prospects for online casinos in the future.
Structure of World Gambling
According to H2 Gambling Capital, the undisputed leader is betting – the share of various bets on sports competitions and other generated events reaches 48.7 percent. In monetary terms, it is more than 19.5 billion euros in terms of revenue. The second place is occupied by the online casino industry (their share is 26.8 percent and 10.7 billion euros in revenue). It is followed by lottery draws (8.9 percent), poker (6.2 percent), skill entertainment such as quests (5.1 percent) – and, finally, bingo draws (1.8 percent).
According to a study by another authoritative resource Evolution, live casinos will become the main driver of the gambling market in the foreseeable future. The data for the second quarter of 2021 proving the tendency is as follows:
- Continued high demand for Live Casino +59% growth YoY;
- Operating revenues increased by 100% to EUR 256.7 million (128.3);
- EBITDA increased by 115% to EUR 174.7 million (81.1), corresponding to a margin of 68.0% (63.2);
- Profit for the period amounted to EUR 144.4 million (70.4).
Live Casinos: Promoting High-End Entertainment
Online casino formats have been actively developing for the past ten years. Every year, we observe a growth trend – both in the number of players and in the number of investments they make. At the same time, the demand gives rise to supply: an increasing number of development companies are presenting games in this segment. But in order to attract partner providers, one has to constantly surprise the sophisticated public with new products and improvements to existing technologies. VR / AR technology is one of the main directions for the majority of live casino software developers in the near future.
The forecast of the industry development is associated with the content quality increase due to 5G networks, as well as an increase in the market due to mobile gaming. Of course, the development of gambling in general and live casinos, in particular, is strongly dependent on the active participation of the legislature and regulatory bodies of countries where gambling is legal.
The development of Internet technologies, tough competition between operators of online establishments, and huge demand make online casinos one of the fastest growing online forms of entertainment in the world. The industry development will be supported by new tech solutions and innovations.