One of the major successes of the modern hi-tech age has been the online gambling industry İt is no secret that gambling was around till the internet though we cannot deny the fact the internet revolutionized the game and increased the global popularity for this industry. For those of you who are living in regions where it is allowed to gamble online, you would know how massive of an impact gambling has. Nowadays, it is hard to browse without seeing an ad about an online gambling platform or betting sites. Though, how did it evolve through modern history and become as it is today? In this post, we are going to cover the answers to that question and take a closer look at the online gambling business. If you want to expand your knowledge about online casino business, then you came to the right place. So, let’s start.
What gambling business looked like before the internet?
Before the internet came around the corner, gambling was not so easy. In fact, there were a number of casinos or gaming parlors in local areas. However, the number was limited, and you could not find them in every city. For many people, in order to enjoy the best gaming experience and their favorite casino games, the only choice was going to Las Vegas/Nevada. If you wanted to play a few rounds of blackjack, you should have gone to the gambling parlors. Sounds pity, right?
The local casinos were not good at that time, and that was the main reason why people preferred the big city casinos such as the ones in Atlantic City or Las Vegas. For those people who could not afford to go to the gambling cities or did not have a local parlor, the only choice was going to the illegal casinos, which were riskier. All these things were happening before the internet came out and rescued hopeless gambling players. So, how exactly the internet impacted the online gambling business?
How the Internet Changed the Way People Gamble?
Just like any other aspect of our daily life, the internet changed the online casino business too. Internet pushed gambling platforms to become one of the most popular phenomena in the gaming industry. It was easier and more convenient than ever before. There were other reasons that most players preferred online gambling in comparison with the land-based one. One of them was about the cost. With online gambling, you can easily turn on your computer, phone, or tablet and let the fun begin. On the other hand, before online gambling platforms, you should have gone to the local parlors for playing. The cost of transportation, food, perks in the land-based casino was creating extra expenses for players.
The other difference between those two was about the distraction factor, which is the key to the success of players. While playing from their houses players did not get any external distractions just like in land-based ones. So, they had the chance to enjoy their favorite games faster, cheaper, and comfortably. As the internet helped online gambling to evolve, companies started to invest in these new platforms. The competitiveness level of the industry increased highly, and that led the online gambling business to prosper.
How Legislation Impacted Online Gambling Business?
Another huge factor that impacted the growth of the online gambling industry is legislation. The countries like the UK, Malta, Gibraltar, and the Isle of Man gave freedom to online gambling throughout this century, so that led to the potential growth of online gambling business. The United States limited online gambling platforms in many states though there are places that you can get access to the online casino legally. Both positively and negatively, the legislation places a huge role in the growth of the online casino industry. For example, when in 2003, the US declared a ban on video poker, the industry took a massive hit, and the share prices dropped drastically. As you can see, the legislation affects online gambling, and the choice is here for governments. In countries where it is allowed to use online gambling platforms, the economy and employment market gets big benefits as a result.
How did the online gambling platforms attract millions of customers?
In times of brick and mortar casinos, the most common way to attract customers was live events and shows. Life shows are not possible for online casinos. So, what have they done that worked so well?
Before modern technology and the internet arrived, there was not a need for advertising for those casinos, which are the only parlors in the down. The competition was not fierce, just like it is today. Int6ernet led to the highly competitive online gambling market that improved the quality of the product as well as the number of people who played them. A wide range of online casino businesses uses various platforms for advertising. Some of them include TV radio, billboards, pop up ads, display ads, and so on.
One of the main advantages that the internet brought to players is the new bonus system in casino platforms. There was not this kind of bonus in old brick and mortar casinos. As we previously stated, the competitive market did not exist at that time, so the casinos did not need any bonuses for attracting customers. The comps were commonly used at that time, inexpensive casinos. Those comps included a hotel stay or free meal and such things. The online casinos brought a new type of comps to please their customers, such as signup bonuses, free spin or free cash incentives. The new innovative bonus system hooked millions of people who liked the idea of playing for free to a certain degree after they sign up for the platform.
Freedom of Choice
The number of gambling games and themes in the land-based casinos were limited. The main advantage that online casinos had over them is the freedom of choice regarding those matters. Whether the limitation was due to the floor space or cost of new slot machines, players had only a handful of choices in those brick and mortar casinos. As the internet arrived, the number of options for players increased rapidly. Nowadays, you can find thousands of online gambling business and choose the one that fits your gaming style and needs.
If you are a fan of online casino slots, you can search the games on Google and see a variety of results from nature-based games to sport themed ones all in one place. It is both flexible and easy to enrol in those games. That is why, the number of people who felt in love with casino games increased so much with the technology.
The price range in the online gambling business and land-based ones is enormous. Let’s take the progressive slots. On the web, millions of people have access to the same game. They all deposit some money and form an enormous amount of jackpot. Then some lucky player earns it. There are other similar examples that resulted in greater wins, so the possibility of higher prices is another factor that led to the growth of the online gambling business and increased their audience.