Casinos and gambling as an industry are both incredibly fruitful businesses. For as long as competitive sports and games have existed, gambling has been in action. Estimated to be worth $450 billion annually, casinos and gambling are powerhouses of financial wealth and continuous evolution in gambling worldwide.
As with any new business concept, there are those who have their concerns about the morality of the gambling industry, but for the most part people have come to realise that it is safer and more secure than ever. The establishment of the casino industry has enjoyed many years of fruitful income and returning customers, but the rise of the online gambling industry caused a significant dip in popularity at the traditional casinos.
This dip was felt almost immediately. It is not difficult to understand why; while traditional casinos are often chaotic environments and open at specified times, the online casinos that began to pour into the digital stratosphere offered limitless time constraints and a virtually seamless gaming perspective.
Now, traditional casinos have joined forces with their online modernised counterparts to strengthen the industry and reap the rewards – together, not against one another (as has been the case up until now). Online casinos have significantly risen in popularity over the last few years.
This is especially true in the few short months since the US Supreme Court ruled that banning sports gambling was unconstitutional. More popular than ever, the gambling industry is increasingly financially stable. In 2016 alone, the industry earned $14 billion. Of that amount, $4.5 billion came directly from online betting. Noting this astonishing financial sum of value, traditional casinos have seen the potential in welding together their forces and established market with that of the newer, modern online gambling market.
We are currently amid a transitory period of traditional casinos making the move to include and align themselves with online casinos. This transitory period is allowing the entire legal gambling industry to go from strength to strength, while giving both casinos (both traditional and online) and gamers the means and the opportunity to increase their income value.
The popularity of the gambling industry is not exactly difficult to understand – especially when one considers the fact that the industry is now increasingly being legalised. The slot machines are casinos’ most lucrative source of income, but the traditional casinos felt the fall in their popularity when online casinos first became a competitive platform a few years back. Even with the income from slot machines (slow machines make up anywhere from 65-80% of traditional casinos’ annual income), the online casinos were quickly rising to the top of the food chain.
Gamblers want easy access to their chosen games, and online casinos provided that without strings attached. Traditional casinos have since noticed this, and as a result more of them have made deals with online casinos to weld together both companies, forging a stronger, more fruitful income bracket for both parties. The gambling industry has seen recent increases in its value, as the rise of legalised gambling has been met with deals with traditional casinos and even major sports leagues.
When traditional casinos recently noticed a decline in their effectiveness and popularity, they looked to online gambling sites for increased revenue. This is an industry that is ripe with gamers who are ready and willing to invest their time and money into betting, and the inclusion of the online market has resulted in what is essentially a limitless scope of possibility for the gambling industry and its tens of millions of clients.
In having the two branches of gambling come together, there is a stronger sense of collaborative efforts to bring clients a more inclusive, seamless user experience. This is what the modern consumer wants, and this is what they are getting – even with their gambling outlets. This is a wonderful time to be involved in a blossoming industry that has become legal and risen from height to height since that legalisation.
The gambling industry has traditionally been a strong market. Before the rise of technological advancement and certain digitisation, gambling in brick-and-mortar casinos was immensely popular. As online casinos began to come out of the woodwork, however, gamers began to realise that the time constraints and the chaotic environments of traditional casinos was no longer an inevitability.
Now, they could gamble online, eliminating both issues at the stem and enjoying their gambling experience for what it now was – a limitless experience from the comfort of anywhere in the world. Traditional casinos noticed this shift in client focus, and worked through the initial stages of panic and anxiety to come out the other end with a frankly brilliant solution: combining the two counterparts to create a stronger market.
These days, the traditional casino industry has been strengthened in alignment with the modern online gambling sector, and if the movements thus far are anything to go by, there is much more to look forward to.