With greater access to mobile devices and increasing connectivity around the globe, the public now has a larger variety of gaming solutions than at any other point in time. This has percolated into the cutthroat online gambling industry as well, which as of recent has skyrocketed in terms of revenue and user growth. Not only have casino games become more varied, interesting and advanced as time has gone on, their makers have also found a plethora of ways to monetise them. In this article, we’ll be taking a brief look at the growth of the sector and its products, both in terms of income, and user experience.
Greater Accessibility, Greater Yield
Casino games initially started off humbly with their rudimentary websites and fundamental, simple game offerings. As technology has become easier to access, democratic, portable and more user friendly, so has the online gaming industry. Smartphones, needless to say were the biggest catalyst for massive growth in almost every field of computer software, and have made it easier for anybody to gamble at anytime, from anywhere. Now, to play a casino game, all one has to do is to head to the app store on their phone, press a button to download an app, and within a matter of minutes, the game is there to be played.
Revolutionary technologies such as IoT, VR, and AR have propelled growth in the industry , adding an extra dimension to online gambling platforms. Back-end advancements in technology have made these games safer and the use of complex algorithms is vital in retaining the user’s attention. A study states that the market is projected to bring in over 66 billion USD by the end of 2020, and this number will grow further to 160 billion USD in six years’ time. Millions of people already play online games, and this number is only expected to rise.
Developing markets such as India, which only recently have been entered, are predicted to drive this rapid growth thanks to the ubiquity of internet and smartphone access. The only barrier that poses a challenge to the industry in such markets is the unfavourable state of legislation. Many countries still have strict bans imposed on betting and gambling, which prevents companies from properly penetrating large markets.
More Ways to Monetise Gaming
As the spectrum of opportunities that allow for greater detail and variety in games grows, so does the number of ways in which money can be made from the customer. Usually, the only cost for a casino game is the cost of entering; for example, the cost of entering a game of slots. When playing an online casino game, first, you must pay for the app/membership itself, then, you must pay for the individual round of whatever game you choose to play, and finally, the ads displayed on the interface also earn money for the game developer. Companies that choose to be even more innovative have started selling their own merchandise, hardware, and lure in customers using seemingly attractive offers to purchase a higher number of their own gambling products.
All things considered, the scope for creativity and monetisation is going to rise at a super fast pace, and the overlap between everyday life and online gambling is going to become far greater, thanks to effective marketing, technological advancements, and more attractive options to play.
