Online gaming has
rapidly picked up momentum in the past few years and in spite of its relative
infancy, the industry is already a major player in world business. Some experts
estimate that more than half of the world’s adult population engages in some
forms of gambling at least once in their lifetime and online casinos can tap
into this finding to obtain converts and expand the empire.
Four years ago, nearly a quarter
of the world’s online casino revenues and activities were generated by Asian
markets. Although official statistics have yet to be released, that figure
would have increased so much higher in 2013. Globally, it is projected that the
total revenues from all online gaming websites by 2015 would breach the
$40-billion mark.
Although online gambling is
much more convenient to do than its conventional counterpart, it requires so
much details, efforts, and creativity for it to function well. Mathematicians,
business analysts, computer geniuses, money pundits, and software engineers all
work together to produce a highly engaging online casino environment. With the
industry’s rise, customers’ demand for high-quality games and online tools has
also skyrocketed.
Online gambling is composed of
three major market players:
- Software vendors
- Online gambling business operators
- End customers/players
Since 2003, the market has grown
by an annual average of 23 percent and while that figure may soon be reduced to
just single digits (as with most developed economies), the revenues will
continue to soar. The most common gaming
services are wagering, slots, roulette, and card games. Online gaming is
becoming more popular and its growth is catalyzed by factors such as improved
Internet connectivity, increased accessibility, the proliferation of mobile
devices, the continued legalization of gambling in many countries, and the rise
of new player groups. Online gaming used to attract mainly younger men, but
these days it is becoming increasingly enticing amongst women and older age
groups.
