It is no secret that the online casino industry is growing at an exponential rate. In fact, it is predicted that by the year 2020 online casinos will be rivaling cinemas for earnings per year. That is a pretty significant development, especially when one takes into account how new online casinos are.
It took the movie industry since 1950s to build up where it is now, while online casinos will be doing the same in a fraction of the time. The question that people are now asking is just how big will the online casino industry get, and at what point will it stop the staggering level of growth it is currently seeing?
It is important to take a few factors in mind when asking this question. First of all, online casinos are built on the back of the already popular real world gambling industry. When movies first became a thing people were willing to pay money to watch, the very concept of a movie was foreign to the human race in general.
In order to get a person buying a cinema ticket you first had to sell them on the fact that it was a good idea. In the case of online casinos it is pretty well established that people enjoy games of chance. And, further more, the games played at online casinos have been around since before movies even existed.
An Extension Of Casinos
When a person logs into an online casino they very much know what it is they are looking for. The question is whether they will get it, and how much effort it takes them to get it. They want casino games, and in the case of online casinos they can be in a game and putting down their first bet in literally seconds of time. In other words, an online casino is the fastest, most convenient way for a person to get something they already know they want. Hence, it really isn’t much of a shocker that the online casino industry has grown at the speed it has.
Impact On Real World Casinos
The next question people often ask is if online casinos are killing real world casinos. It seems logical that the online casino revenue is coming from somewhere, and the quickest conclusion to draw is that it is being taken from real world casinos. But is this true?
The answer is that there is no real sign that online casinos are having much effect on real world casinos at all. People tend to forget that a real world casino offers a great deal more than just gambling. There are live shows, shops, and many other forms of entertainment that bring in customers.
In fact, some have said that online casinos may even increase the business of real world casinos, since players will learn games such as poker online, and want to test out the skills in a real world environment. And likewise, real world casino game players may like to hone their skills at home at an online casino. The relationship between the industries might very well turn out to be beneficial, as opposed to conflicting.
As to how long the online casino industry will see growth, there really is no real solid answer. Popular new industries often see immense growth for the first few years, but this growth inevitably stabilises and balances out. All current indicators say that the online casino industry is going to see growth for a good few years still, and will probably keep growing until at least 2020. As to what will happen at that point is really just guessing and speculation. The growth will, however, definitely balance out at some point.
A question that is perhaps more interesting than how much the industry will grow, is how it will develop as it grows. Currently online casinos are exactly as one would expect them to be; offering easily accessible casino games. But as more and more competitors enter into he market, they will be trying any new approach they can to attract customers to their websites. This will inevitably result in a wave of new and interesting online casino variations. The games will get better, and perhaps in ways that people never even foresaw.
Better graphics and sound are an inevitable evolution of any digitally based game, but what is beyond graphics sound? If virtual reality is a term you still relate to science fiction movies, then get ready to have your world rocked.
Many digital casino game developers are already moving into the world of virtual reality, and a wave of VR based games are already on the horizon. How such an evolution will affect the industry at this point is again guessing and speculation, but the one certain thing is that the online casino industry is going to be an interesting one to watch.