In recent years there has been a very noticeable shift from land-based forms of gambling to digital iGaming. According to The Gambling Commission (UK), there is a marginal decline across the entire gambling industry but the Online Gaming sector continues to grow and currently accounts for 39% of the total market. So what’s driving this trend? Like many other online shifts, it’s driven by benefits both business owners and demand from the consumer.
Millennials prefer experiences over possessions. Some have likened the online gaming environment to that of the Las Vegas casinos of the 1970s, where there were always freebies and additional experiences on offer to compliment gameplay. This experience-rich environment is what today’s clientele demand. Convenience is also key. In an always-on world, Online gambling is there whenever the urge takes you. A positive and negative, of course. The ability to multitask and play, make online furthermore attractive.
With a lower financial point of entry and lower stakes, anyone can join in. This democratisation of gambling has led to a wider variety of games on offer, meaning there is literally something for everyone.
Benefits to Business Owners
For the casino owners and bookmakers, the fewer infrastructure costs are complemented by potentially lessened tax burdens. This inevitably gives them a higher ROI. Also, with many fewer overheads, online casinos can cater for this wide variety of games without the financial penalties that see less popular games in brick and mortar casinos swallowing huge investment from comparatively little return.
Land-based gaming is fighting back however. Again experience is key and giving gamblers the kind of attractions that they could never have in their home armchairs has always been the strength of the Vegas casinos, for example. This continues as of course, it would be very difficult to replicate the experience in the virtual world. As land-based gaming is more of destination, the Return To Player is much lower than online. They stay longer and they spend more in one session.
Growth & Opportunity
Overall the shift in growth online means that the opportunity continues to grow in the sector despite some faltering results lately across the sector. The normalisation of gambling has spurred on the equalisation of the genders in gaming, with women representing 40% of all gamblers and that set to increase. Whether playing at home or in the land-based alternative, it’s certainly a time for those wishing to use their transferable financial, technical or creative skill sets to consider the industry as a potential new career path.
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