There’s no denying it, land-based casinos aren’t the only game in town now. Online casinos have been steadily taking up market shares, and we now have a whole generation of players who have never set foot into an actual casino. It’s not difficult to understand either, with all the advantages online casinos have to offer. The industry has also made huge strides in technology and has done a great job at luring offline players. Let’s take a closer look at the shift from land-based casinos to online casinos, and what it could mean for the future of the industry.
The Land-Based Industry is Struggling to Keep Up with the Online Format
It has been estimated that the global online casino industry is showing a compound growth rate of about 8% per year, which is way higher than the casino industry. And one of the biggest reasons why the online industry is growing so fast compared to land-based casinos is their bonus structure.
For instance, you’ll be hard-pressed to find an online casino that will double new players’ bankrolls, or even allow them to play for free. But this is exactly what casinos like Suomikasino are doing. They will go as far as doubling initial deposits up to €300 and offer 120 free spins on their slot machines.
Land-based casinos, on the other hand, tend to focus mainly on “high rollers” and regulars. Online casinos put everyone on the same playing field, and even tend to favour newcomers.
The Rise of Mobile
Another area where online casinos shine is in the mobile space. Being able to play casino games for real money when waiting for the bus, during breaks, or out and about is something land-based casinos will never be able to offer.
Not only that, but the offering for online casinos used to be limited with casinos only offering partial or stripped-down versions to mobile users not too long ago. Today, not only do many allow players to play their full version through their mobile devices, but many make it even easier by allowing players to use their browser option.
Some of the other growth factors in the industry include the increasing interest of mobile gaming among players under the age of 30, increasing foreign investments, development of infrastructure, and the relaxing of mobile gambling legislation in jurisdictions around the world.
Online Gaming is More Immersive
Another reason why online casinos are soaring in popularity is because of the quality and selection of games. No matter what land-based casinos do, they will always be limited by space, which will limit the number of games they can have on the floor. With online casinos, the possibilities are endless.
Not only that, but the top developers in the industry are constantly competing to come up with the latest innovation, adding to the vast selection of games already available. Many developers have been able to incorporate some classic gaming aspects into their games. This has done a great deal to bring some classical video game players in. These games incorporate elaborate soundtracks, mini games, and storylines that are far away from your traditional fruit machine.
Many online casinos also have live dealer options that allow players to feel like they’re playing in some of the world’s most famous casinos without leaving their homes. Some have even moved towards augmented reality and VR games that allow players to virtually sit at a table with other players from around the globe.
The Role of Crypto
Cryptocurrency has also been said to have a major influence on the global growth of online gambling. For one, it has made it easier and safer for many players. But one thing crypto also did is allow players from jurisdictions who did not have access to online casinos before to play. Cryptocurrency and the blockchain are also allowing casino operators to collect valuable customer spending information and allow them to adjust their marketing strategy accordingly.
There is no doubt that the world of gambling is changing, and online casinos are leading the charge. We could even see a world where online gambling becomes the new normal and turns the whole industry upside down.