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Online Gambling Popularity is on the Rise at Record Pace

Online Gambling Popularity is on the Rise at Record PaceThere is nothing like the thrill and excitement when placing a bet at a casino.  Whether you play blackjack, roulette or slot machines; we all enjoy the thrill of gambling.  Just knowing that you could win or lose with the roll of a dice or the pull of a lever has made gambling what it is today.  This is why online gambling popularity is on the rise at a record pace.  Industry experts expect revenue from online gambling to overtake traditional casinos in the next 20 years.

The online gambling segment of the industry currently has a steady annual growth rate of 10.81% CAGR.  If it continues at this pace, the industry will have over 45% of the total gambling shares by 2020.

Even though the actual number online gambling sites is unknown, it is estimated that they are over 4,000 online gambling sites around the world.  Most of these gambling sites are independent of land-based casinos and may be illegitimate.

Even though online gambling does not give you the environment and the amenities of a casino, it is more convenient for the normal gambler.  It allows you to play whenever you want in complete privacy, thus increasing the online gambling popularity.

The Millennial Factor in Online Gambling Popularity

Online Gambling on the riseA large part of today’s world is based on the internet. Before the era of the internet, going to a casino for most people involved a planned trip.  Today, many things can be done using the internet.  This includes, ordering food, paying bills, watching movies and of course online gambling.

The millennial generation which was raised on the digital world will make up almost 50% of the entire work force by 2020.  As time goes by, they will become a group with a lot of influence. This group has a love for social media and online gaming and the gambling industry has taken notice. This is why gambling companies are expanding into the online gambling world at an even faster pace.

Most casino companies are in one way or another involved in getting governments to legalize online gambling.  For example, the state of Pennsylvania recently approved a major gambling expansion. This made Pennsylvania the first state to allow online gaming for both commercial and its state lottery. Several other states like Connecticut and Rhode Island are trying to follow in their footsteps.

The Evolution of Online Gambling

InterCasino was the first real money online casino. Their website was launched in August of 1996 and is still going strong today.  The company is considered by many to be the pioneer of the online gambling industry.

This all started in the country of Antigua because it was the first to make online gambling legal to offshore bettors around the world.  The first software company to truly advance online gambling was Microgaming who launched Gaming Club Online Casino in 1994.  Even though Gaming Club Online Casino did not use money real money, it was the first true online casino.  This lead to the development of an online casino management tool and player tracking system which became the model for the first online casino.

This led to even more advancement in the online gambling business like the first progressive jackpot for slot machines.  The technology rapidly spread throughout the world into what it is today.

Online Casinos Today

This year, the online casino industry is expected to earn $56.05 billion in revenue. To get a piece of this revenue, online gambling websites like NetBet must constantly improve.  They hope to achieve these results by adding new types of games which is a must for any internet casino wanting to stay competitive.

In order for an online casino to be a success, they must always be on the lookout for new types of games.  Without it, they will be unable to neither acquire new clients nor retain old ones.  Thanks to the advancement of the internet and software programming, casinos are now able to do just that.  Some of these new types of games include multi-player online poker, live dealer casino games, virtual sports betting and much more!

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