The online gaming industry’s future is bright and it only gets brighter by the day. With over 7 billion online gamers globally, the industry is estimated to be worth over $175.8 billion in terms of future revenue growth. This is a jaw-dropping figure and to think that it will only grow with time is insane.
COVID-19 is a great reason for this growth. People all over the world were in isolation, lockdowns, and unforeseen free time became available. This drove people to online gaming as a way to deal with their anxiety and socialize with their loved ones across the world. But the pandemic isn’t the only reason why online gaming is experiencing growth. There are several other reasons and we dissect each reason below to understand how the iGaming world will evolve.
Slots were the first games to go online but not everyone is a fan of these games of chance. As such, developers and creatives at various game studios introduced more games online such as blackjack, craps, keno, and live dealer games to diversify the market.
That also meant more and more iGaming sites popped up in a bid to reach more players. For instance, Everygame Poker is a new site that primarily offers poker games. This goes to show just how diversified and niche-specific the market is right now. You can read more about this site in this Everygame Poker review.
Massive gaming consoles that require a huge investment were what you needed back in the day to enjoy your favorite game. But that is no longer the case. Smartphones and tablets are now normal items to own and almost everyone owns such a device.
Gaming companies are also shifting focus to where the majority lie. And that is in the mobile gaming market. Almost all games introduced in the market are mobile-friendly, allowing players to get in on the action while they are on the move. All you need is a stable internet connection and an updated web browser for the best gaming experience.
Competition in the industry is fierce and many iGaming operators are constantly trying to appeal to new players and retain existing ones with appealing rewards. New iGaming operators constantly coming up are also posing a challenge to existing players in the market as they come up with new and creative ways to reward players.
Some of the rewards often offered to players include bonus cash, free spins, and loyalty points. Other operators go the extra mile and give physical rewards such as tech gadgets and trips to exotic destinations. Such rewards give players a sense of achievement that keeps them motivated to play more.
Which one do you think is cheaper? Packing your bags and heading over to Las Vegas to enjoy your favorite casino game or visiting an online casino and enjoying all games from the comfort of your location. Of course, the second option is cheaper. Heading to a physical establishment is expensive because you need to plan for your transport and hotel accommodation. Plus, you also need to eat and move around.
Online gaming is now a preferred way of entertainment because of its convenience. And the emergence of new sites is a testament to this. Besides, you enjoy a diverse collection of games on your device, something you may not find when playing in a physical establishment.
Increased technology has opened doors for innovative ways to maintain the social aspects of gaming. Inviting people to your house to enjoy a game is no longer cool. What’s cool nowadays is to play with multiple people over the internet. It gets even better since the internet connects everyone from across the globe. That means you can compete with anyone from anywhere at any time of the day.
This kind of sociability allows you to make friends over the internet while also learning more about their cultures you didn’t know existed.
The 9 to 5 workplace is slowly shrinking, with more people making money online. This frees up more space within the day, allowing them to explore new forms of entertainment. The online gaming industry is the biggest beneficiary of this increased free time as many people explore iGaming sites to enjoy different online casino games.
Online gaming is on a growth trajectory and will continue to grow in the coming years. The reasons discussed above are enough evidence to support this point. Besides, online gaming is a great pillar of globalization as it makes the world a village by increasing social groups. Advanced technology is also shaping the industry and it can only get better with time. Therefore, if you’re planning to engage in online gaming, these reasons are enough to convince you that it’s the correct decision.
This is a paid guest post.
Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.
