Online Casino Industry Among The Top Gainers
Thanks to the growing popularity of online casinos, it is estimated that the industry will touch $101.30 billion by 2015. A new study by GIA (Global Industry Analysts) suggests that the casino sector is one of the biggest and most profitable fragments of the gambling industry. It has the potential to alter the economic future of nations.
According to the study, the big players in this industry across the world are planning to go online in a bid to make the most of the wide potential here. But, a stringent and sometimes unfavorable regulatory environment holds them back.
It is Bloom Time for Online Casinos
One of the growing trends noticed is the mushrooming of online casinos that allows global players to compete against each other. Online establishments are known to shower huge payouts and bonuses on the players who are ready to put their stakes. They introduce newer slots and versions of games to lure the gamers to try their luck. But, online gambling comprises just a small part of the entire gambling industry across the world.
A ray of hope lies in the fact that online gambling is growing rapidly. One of the factors to drive the fast growth in this sector is huge consumer demand. Online gambling offers almost the same amount of fun and rights to the players as brick-and-mortar casinos.
Overriding the Economic Recession
Even the economic recession has failed to curb the enthusiasm of online gamblers. This has continued to provide opportunities to the online casino industry. The land casino industry may have faced the brunt of harsh economic times, but online casinos continued to offer moments of recreation to players at relatively lower stakes.
The study states that the developed nations are witnessing saturation in their casino industry. But, the Asian world is becoming a hotspot for online gambling. The income generation from casino gaming is so enormous that governments of several countries levy hefty taxes on this sector. Some states in the US are even looking upon casinos as an important revenue source.
GIA has titled its research study as: “Casinos: A Global Strategic Business Report.” It is an all-embracing report providing an overview of the gambling industry, issues and trends, legal aspects, industries related to it, product innovations, profiles of global casinos, and latest industrial developments.
Various other studies also suggest that the number of online gamers have increased in the recent years. Online casino sites have reported to be the highest gainers in internet activity. Now, with the reshuffling in the laws of various states of the US, online casino is likely to become a legitimate activity. Surveys have also shown that games have played a vital role in the success of iPhone. A large number of users prefer using their iPhones more as a gaming tool than an actual phone.
Looking at the potential of online casinos to keep the cash registers ringing, the governments’ views on this form of recreation has tilted to some degrees in its favor.