The history of gambling may have started with land-based casinos but we are not sure it will continue like that. It seems online casinos took the lead and represent the future of this industry. This is a revolution started nearly 20 years ago: The first online casino in the world opened in 1999 and since then, their numbers keep increasing day by day. Due to the fact that in the last 10 years almost everything has moved online, the casino industry could not be left behind. Because of the fact that it’s much more convenient to play on your couch, dressed in casual clothes, online players are increasingly, choosing to move online due to the benefits explained above.
Land-based real casinos, on the other hand, do not increase in numbers but their profits do not seem to get affected by this.
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Statistics Of Online Casino Companies and Real Casinos In 2020
First, let’s take a look at some statistics and answer this question (*): How big is the online casino industry?
- The size of the global gambling industry is 110 billion dollars. And the online casino industry worth is 51.96 billion dollars. With simple math, we can say that online casino companies get half of the global market.
- However, these values are for 2018. In 2020, it is expected that the global market will reach 130 billion dollars in size, and online casino companies will get a share of 55.19 billion dollars. This figure is expected to rise to79 billion dollars in 2020. In other words, the size of the online casino industry keeps increasing.
- On average, the global gambling market increases by 3 billion dollars per year and online casino companies keep increasing their share. Social gambling is also on the rise, so the share of land-based real casinos keep getting smaller and smaller.
(*) All of these data is taken from Statista.com
In other words, we can safely say that in about 5 years, online casino industry will dominate the global gambling market. In fact, as new gambling technologies become widespread, land-based real casinos may become a thing of the past. For example, VR (virtual reality) gambling is at its first stages now but in 5 years, it will be used more often. Simply put, land-based real casinos cannot compete with these advancements.
What Do Real Casinos Offer
Back in the 90s, when somebody said casino trends, the first thing that popped to your mind was Las Vegas casinos. This is still true to an extent: Las Vegas is still the gambling capital of the world. However, the main reason for its popularity is not because of the “games”. Las Vegas (and other land-based real casinos) are popular because they are an attraction before anything else. Casino games are not the only thing they offer: When you visit a real casino, you can attend shows, eat, drink, and socialize. Sometimes, you return back without playing any games! So simply put, land-based real casinos are offering an “experience” at the moment. But, is this enough for them to compete with online casino companies?
Why Has Online Casino Industry Become More Popular Than Ever?
Not really. Land-based real casinos may be offering an “experience” but it is quite an expensive one. When you visit Las Vegas, for example, you cannot use all of your budgets to play games. You need to purchase tickets, pay for the rooms, and allocate an additional budget for travel. Online casinos, on the other hand, offer a pure gambling experience. If you have a gambling budget of, let’s say, 100 USD, you can spend it entirely on games. There will be no “hidden” costs. So, in a way, land-based real casinos become a rich tourist attraction. Online casinos, however, are for real gamblers, no matter what their budget is. Having a luxury resort that also offers to gamble is a nice thing but only if you gamble for a week every year. If gambling is something you do every week, online casinos offer the best price/performance ratio.
Of course, they have additional advantages, such as playing at the comfort of your home, no time and place limitations, thousands of different games to choose from… But, in the end, we believe that the main reason for online casino growing is that they are able to appeal every gambler out there and offer pure gambling services. And this is why they will keep getting more popular: As we said at the beginning, the future of this industry lies at online services.