Business

7 Facts Showing the Glory of Online Gaming Industry

The COVID-19 epidemic in 2020 forced casinos all over the globe close for guests. The case of Las Vegas, the world’s capital of gambling, all casinos were shut for longer than two months, which resulted in massive losses to the business.

In the course of the lockdown, a brand new market was created. Since there was no casino that accepted retail players, gamblers had turned their attention to online casinos. In the year 2020, the online gaming industry experienced a rapid growth, which isn’t letting up even though the pandemic appears to be gone.

According to a study the trend will continue to grow over the coming months, with the whole online gaming industry expected to be just under $100 billion in 2025. In terms of perspective it’s higher than GDP for nations such as Sri Lanka, Myanmar, Bulgaria, Croatia, and others.

In order to comprehend how the outlook for this business is so promising, here are a few facts that illustrate the beauty of online gambling.

#1 Online Casinos Have Never Been This Generous

The online gambling market has never been this intense. To attract new clients, casinos on the internet need only think of methods to stand apart. A well-known options is to offer appealing deals to players who are new.

It’s certain that nearly all sportsbooks and casinos online offer a welcome gift to new customers. This can take the form match deposits bonuses. There are also casinos that do not offer deposit bonuses that offer cash for free.

Other types of bonus offers that you can find at online sportsbooks and casinos include rebate offers and free bets or spins birthday bonus and more.

#2 The US Is Not a Very Gambling-Friendly Place

The legality of gambling online varies between different countries. The thing that is a bit shocking is that the US is not as gambling-friendly nation as many believe. In reality there are only two states which you can gamble online (e.g., New Jersey, Delaware, Pennsylvania).

In the majority of states, gambling online is either prohibited or unregulated. Two states have the most strict laws on gambling that are Utah as well as Hawaii. Gaming on the internet is not only prohibited in these states, however, the same is true for land-based casinos too.

#3 Online Slots Make up 70% of the Industry’s Income

It is believed that online slot machines generate the most revenue in the world of online casinos. According to studies the games contribute around 70% of total revenue. Other games that are popular include blackjack casino88, roulette online Baccarat, blackjack, and more.

#4 Most Online Casinos & Sportsbooks are Licensed in Curacao

There are a lot of gambling websites online which are licensed by Curacao. The small island state located off from the shores of Venezuela is a favorite destination for online sportsbook and casino owners for a variety of reasons. It all starts by the simple fact that license process is easy.

Furthermore tax rates are also lower in Curacao aren’t as expensive like in other locations. For instance, online casinos within certain US states are required to give away up to half of the profits for the state government.

#5 About 11% of All Internet Users Gamble Online on a Regular Basis

Gambling online is a pastime that is more popular than people believe. It’s estimated that over one-in-ten Internet players gamble regularly online. The typical gambler online is a man with a minimum age of 30.

#6 The First Internet Casino was Launched in 1994

The rise of the internet began in the mid 1990s. A few years after the first websites on the internet were launched, Microgaming launched the world’s first real online casino.

The website is no longer in operation however, the company is active Today, Microgaming is one of the top online casino game designers worldwide.

#7 The Highest Sum Ever Won in an Online Casino is $24 Million

It’s not simple to get all the accurate details in the realm of gambling online. From the data online it appears that the largest jackpot ever attained by an online casino was $24 million. It was one Finnish user who won the jackpot in an online slot game called Mega Fortune. It is believed that the lucky winner wasn’t an avid player of slots. His preferred favorite game was online poker. However, the day he won the winner decided to give Mega Fortune a spin. It was the right decision since it was reported that he won the jackpot with a 25 cent spin.

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