“Online-Pokern” (CC BY 2.0) by wuestenigel
The number of online casino companies continues to trends upwards. The iGaming market has seen sustained growth since the summer of 2016 and there are few reasons to think this trend will reverse. Indeed, the industry is prospering and looks set to enjoy further engagement. That’s why an increasing number of investors are seeing the industry as a good bet.
Market predictions suggest steady growth over the next three years with the global casino industry increasing at a CAGR of 10.16% according to data released from Research and Markets. This growth will also be seen in the United States albeit at a slightly slower CAGR of around 5%.
And despite unease deriving from potential regulatory changes taking place around the globe, the Chinese market for example, in the wake of new legislation, has enjoyed a 22.1% year-on-year growth to $3.3 billion according to data published by the Macau Gaming Inspection and Coordination Bureau, suggesting regulatory flux has made little difference.
The case seems to be similar in the European Union. For example, online casino operator Mr Green revealed it had enjoyed its most profitable year in 2017, growing revenues by a huge 28.9%. Helped by the introduction of “Green Gaming”, an innovative tool to help gamers set a limit on the risk they’re willing to take, Mr Green has become one of several attractive options for investors considering the market.
“lots of slots” (CC BY 2.0) by dennis
Popularity for gambling continues to rise. Although the figures are related to physical gambling locations, the Nevada Gaming Control Board estimated gambling revenues had increased 3.3% between 2016 and 2017. More specifically, Las Vegas enjoyed 4.7% growth while Reno boasted a significant 9.2% increase in revenues.
As more and more people are drawn to the online casino as a form of entertainment, the USA has recognized the need to legalize the online platform with a growing number of jurisdictions changing archaic laws. As a result, online gambling in the United States is predicted to grow up to $4 billion within the next two years.
For investors, some will maintain reservations about getting involved in the industry. But its image has been improved in the age of the internet as, for example, operators give to charities, while policing has made online casinos more responsible for their actions as well as the customer care they give to players. Technology has also played its part in growing the market. Players can log on and play from the comfort of their own homes. And they don’t even need to be sat in front of a computer to do so as almost all reputable internet-based casinos offer mobile apps or phone and tablet optimized platforms.
Now that online casinos are emerging from gambling’s historical lack of visibility and the quagmire of red tape, they present a unique opportunity as a buoyant industry with space for investment. With live streaming and, even more recently, VR platforms joining the fun to push the market even further, the online casino industry will keep expanding across multiple geographical locations.
