Not too long ago, the internet wasn’t something that most people had or used on a daily basis. Nowadays, there are discussions surrounding internet addiction, and many people set timers to keep their internet consumption in check. Technology has come a long way and is now used in virtually all areas of human activity. From work to entertainment, you undoubtedly use quite a few gadgets on a daily basis. Indeed, some of them have become so inconspicuous that you likely don’t even consciously notice them anymore, and remembering what it was like before using them might be a bit of a struggle.
Technology has left its mark in every single industry out there, offering brands new opportunities to develop and thrive. And it shows no signs of stopping. In fact, tech solutions are growing and becoming more efficient, shaping the world as we know it and creating new market branches that haven’t existed before.
The gambling industry is one of the markets that have seen a skyrocketing ascension since the introduction of online means. Currently one of the most lucrative businesses on the internet, this particular niche has adapted from its roots to be the powerhouse that it is today.
But how has it changed precisely, and how is it set to develop in the future? Let’s examine it closer.
The History
Gambling dates back to the dawn of civilization, with dice uncovered by historians dating back to 3000 BC. Over the centuries, it became a favorite pastime of all social classes, with the stakes ranging from the very low to the exorbitantly high depending on the circles in which it took place. Later, in the late 19th century, the first slot machine was created, a device that has endured the test of time. Its adaptability to technology is what birthed modern-style casinos.
The rise of gambling as a legitimate industry began in the 1940s and 50s, although locales have existed before, including large-scale ones that could host many guests and games simultaneously. It’s true that the road to acceptance was a somewhat troublesome one, but once the laws were passed, there was no stopping the development of the market.
In the 1980s, some games were even broadcasted, and formal advertising began to attract people’s attention and draw them in. Nowadays, the most prominent promoter is the internet. While the first online casinos appeared in the late 90s and early 2000s, it is only since the rise of smartphones in the early 2010s that this part of the industry began to really leave its mark. What we’re witnessing right now is the development of the online space in the gambling ecosystem, and it is set to change the way people bet forever.
A rejuvenation
The use of the internet in promoting casinos and hosting online games has served one very clear purpose: the rejuvenation of the industry. This isn’t the case just for this market. Many businesses and niches have been saved by their association with cyberspace.
After all, it is undeniable that the world is veering towards digital solutions and landscapes. An ever-growing number of people use the internet to perform tasks they would leave their homes for before, such as paying bills or buying groceries. Nowadays, all that can be quickly done from the comfort of your living room. As such, it would be abysmal planning for businesses not to realize this trend and capitalize upon it.
Not only has it helped increase engagement, but it also means that you’re more likely to discover trustworthy locations where to place your bets. For instance, if you’re looking for Japanese online casinos with best reputation, you’ll come across a plethora of different places you can try. You can have your pick and choose between them and decide which one fits you best. In the case of some, you get a ¥3500 bonus just by registering. Others offer instant cashback within a specific range, and some casinos offer a no-deposit bonus.
The growth of the gambling industry can easily be observed over the past few years.
Between 2015 and 2020, net revenue climbed from $41.4 billion to 44.3 billion. Keep in mind that 2020 was the year in which the pandemic struck and left economies worldwide in a sorry state. Many businesses closed their doors forever during that year, and a large number of people lost their jobs. The same cannot be said for the casino market, and by 2025 it is expected to reach a whopping $66.7 billion. It is estimated that nearly 50% of this growth can be attributed to mobile-device betting, which is absolutely incredible and a testament to the influence of technology on daily life.
The future
The future looks bright might sound like a cliché, but in the case of casinos, it is nothing but the truth. Constant evolution and new features added all the time means that gambling is always going to be attractive and engaging for those interested. This is very important because it can be hard to keep up in today’s world, where so many new and shiny entertainment options are readily available. This incredible growth means that development also helps attract prospective players, cementing the future of gambling and ensuring it doesn’t go away anytime soon.
It is plain to see that technology has overtaken the industry, and it has all been for the best. While land-based casinos are still popular and, so far, coexist peacefully with their online counterparts, it is plain to see that the latter medium is gaining ground and developing faster. It’s a predictable movement, given the fact online casinos blend tradition with novelty and then wrap the mixture in easy accessibility.
With this in mind, it likely won’t be long until we can expect to see developments such as crypto-based gambling and live or peripheral games. The first is likely, not surprising at all, given how digital money has become an incredibly popular asset.
As technology has entered the gambling ecosystem, the two have become interlinked.
The continuous growth of tech will also help casinos thrive.
