- What’s Happening Now?
- What Do You Get?
The online gambling business brings high profits to all involved in it: this is facilitated by the popularity and availability of online casinos for users. Despite the high competition, opening a gambling house on the Internet is a promising investment that quickly pays off.
What’s Happening Now?
Virtual gambling establishments from evenbetgaming.com are confidently taking over the offline gambling market. This is facilitated by the emergence of high-speed networks, the availability of the Internet, and smartphones. One of the main advantages of virtual casinos is the possibility of free play and a loyalty system for customers. You don't need a large budget to place bets, and newcomers are even entitled to bonuses for registering.
Recent research from H2 Gambling Capital shows that the income of the global online gaming market has grown by 10% over the past decade, and by 2023, it will increase by another 7%. This means that more online casinos and online betting platforms will appear in the world, and the interest of users will only grow. Let's consider the main reasons why it is worth opening your own online poker room or gambling platform in 2021. What are the main prospects of this business? What risks and competition should you be aware of?
1. Large Flow of Clients
Land-based gambling establishments are banned in many countries around the world; their citizens use alternative ways to enjoy their favourite games. In some regions, casinos exist only in special gambling zones, and far from everyone can reach them. Adult clients from different countries can visit an online casino; the site is open for them at any time of the day. Such availability provides a large flow of visitors and high income in the long term.
2. New Regulated Markets
Every year, the governments of different states understand that it is necessary to be flexible when regulating the gambling industry, without completely banning it. So, last year, online casinos were officially allowed in some European countries. This opens up new opportunities for niche businesses, as well as access to a larger number of clients on legal terms. Of course, before registering the business, you need to know the current legal situation and all pitfalls associated with it.
3. Simple and Quick Start
Launching an online casino is often both easier and cheaper than opening a land-based gambling establishment. There is no need to rent a room, hire staff for a permanent job, pay taxes from every gambling table. It is not always necessary to even buy your own license since there are different casino solutions. So you have the opportunity to open a gambling resource and work with the support of an official partner.
4. Development of Technologies
Modern online casinos are not the same platforms as they were a few years ago. The development of technology makes it possible to add new types of entertainment as well as convenient tools to an online gambling portal. These are games with live dealers, the ability to instantly deposit funds, work with advanced and popular payment systems, VR, and artificial intelligence algorithms for better data protection. All this attracts more customers and opens up new development paths for online casinos.
Taking into account the fast development of the business segment, gambling operators do their best to make their products as convenient as possible for use, engage users and earn more. They are working on game design, adaptability, load speed on all platforms, etc. Nowadays, you can benefit from gambling on different devices and a 100% realistic online gambling experience.
5. Improving the Quality of Graphics
Due to technological progress, the visual component of games and the design of online platforms are becoming more high-quality and vivid. Clients are now attracted not only by the opportunity to win, a feeling of excitement and involvement in the process but also by high-quality graphics. Nowadays, it has become even easier to attract new users thanks to the unique and attractive design of the casino website.
6. Mobile Accessibility
According to recent research data, the number of players who accessed gambling resources from mobile phones and tablets increased significantly. Their growth amounted to 117% in six years. This applies not only to online casinos but also to online betting offices. Mobile versions of sites have become more convenient and accessible; they offer the client almost the same range of services as in the browser version. This attracts those users who find it convenient to carry a “casino in their pocket” always with them. When it comes to the dynamics of mobile gambling development, the share of the mobile segment in the market was 6.6% in 2003. In 2013, it reached the level of 24.3%, and in 2020, it went up to 40.4%.
According to the analytical agency Research and Markets, the global gambling market is estimated at $79.5 billion in 2020, amid the COVID-19 pandemic. Based on forecasts, the market volume will grow to $250.4 billion by 2027. It is noted that the share of the mobile gambling niche in the industry is 42.6%. And this indicator has been demonstrating stable growth from year to year for 5 years. Oceania takes the leading position in terms of the share of mobile traffic — 49.2%, followed by Europe — 42.4%, then Asia — 40.8%, North America — 27.3%, and Latin America — 21.1%.
7. Cryptocurrencies and Blockchain
The development and popularization of cryptocurrencies have opened up new opportunities for online casinos around the world. With the help of digital assets, players can carry out instant transactions that are reliably protected using blockchain technology. The use of smart contracts in a casino helps to increase the level of trust in the casino: the user knows that the winnings will land on the account with no problems.
8. New Marketing Tools
The most important role in the popularization of the gambling resource is played by a well-thought-out promotion and a competent marketing strategy. You can attract new customers and retain old ones using a whole series of effective advertising tools and techniques. Their number is growing every year, and those resources that keep up with trends and innovations in the marketing industry come to the top. Enlisting the support of specialists, you can quickly make your online casino popular.
9. Payback in a Short Time
Opening an online casino is quite simple. Besides that, this process is cheaper than registering a land-based gambling establishment. The best thing about this business is that it begins to bring profit almost immediately. With a competent approach to advertising and work within the legal framework, the gambling resource will bring a stable and rapidly growing income, which will soon override the costs of opening and paying for a license.
10. Industry Growth
Land-based casinos do not have time to change (improve) as quickly as the very same establishments in the virtual space. Online casino players are attracted by 3D graphics, live games, the possibility of regular tournaments, different bonuses, and much more. More and more new offers appear on the market, and well-known developers offer a wide range of games for gambling resources. All these attract a large army of customers from around the globe. Over the past 2 years, 50% of the citizens surveyed have played in online casinos. And in the past 3 years, the number of online players has tripled! With this in mind, it is no wonder that GGR amounted to 60 million euros, against 22 million in betting and 2 million in poker.
What Do You Get?
The most important thing that is worth paying attention to is the impressive growth rate of the gambling business. According to the research company H2 Gambling Capital (H2G), the capitalization of the gambling market in 2020 around the world was about $484 billion.
In particular, the IGaming segment is one of the fastest-growing in the gambling market, accounting for almost 12% of the market share. One of the most lucrative regions for gambling is Australia. By the way, losses from rates per adult in the country last year amounted to $990. This is 40% higher than the runner-up Singapore, according to H2G, and about double the average in other Western countries, such as Ireland and Finland.
A well-established merchant's turnover can average $ 90-120 million per month (according to the same research group H2G). At the same time, the income can be significantly higher if the one also operates physical outlets and accepts both alternative payment methods and traditional ones.
Other research publications predict that the gambling market will grow to $2.2 trillion by 2021-2022. But does this make the online gambling industry free of any issues? Fortunately, no. Especially considering some strict jurisdictions, whose representatives of the gaming industry are on the list of high-risk merchants for a short time. This, in turn, imposes some restrictions in the framework of cooperation with payment providers for reasons that are clear to all of us.