Casinos have always seemed glamorous in the movies and in real life, from James Bond in Casino Royale to the Mafia in Las Vegas. Maybe The Hangover took some of the Bond glamour away but people will always visit land based casinos for poker, roulette, slots and craps. However, online casinos, mobile apps and betting sites have grown massively over the years.
The online gambling industry’s market size is predicted to expand to around $127.3 billion by 2027. That is a CAGR (Compound Annual Growth Rate) of 11.5% in the next seven years. Even if you have no financial background you can see this is huge. To give a simpler view you can look at the last four years alone where the market has doubled from $40 billion to an expected $80 billion by the end of 2023.
But, exactly why has the market grown so much? Is it simply that people like casino games or that they want to gamble? Below are some reasons that people prefer online gaming hoping for a profit.
Online casinos are easily accessible
The most obvious reason is that you don’t need to leave your home. Hey, you don’t even need to leave your bed! Smartphone or tablet in hand, login and play your favourite game.
Play online anywhere
It doesn’t matter where you are. You could be on the beach playing poker or in Finland logging into Energy Casino! Nearly everyone has a smartphone. We take them everywhere we go. That means literally everywhere is a casino if you have your favourite app to hand or website to login to.
Online casinos are open 24/7
Maybe you work unsociable hours but like to play poker. Well the online casinos are open all day, everyday. You can play whatever is your favourite game whenever you want. That is obviously convenient and again, you don’t have to travel anywhere. Traditional casinos may have set opening hours or be closed for holidays. During the recent Covid-19 pandemic casinos were forced to close in some areas and then restrict how many people were allowed in after. No such problem with online games. In fact during this hard time earlier in the year, online gaming saw a surge as people started to log on for the first time.
They offer free plays and demos
Not only do a lot of gaming sites offer free sign on bonuses but you can get free plays too. One major advantage is you can play the free demo versions. You won’t win any money and indeed you may find this better. You just get to play your game with no actual gambling and no risk of losing money. Alternatively, you could install a casino app that lets you gamble for real money but also lets you play those games as free to play. This lets you practice and build up your own personal strategies or practice classic strategies first. It also lets you warm up on a free table before moving over to risk your own cash.
The online gaming industry is very competitive and all the companies involved are looking for new players to sign up so the freebies and sign up bonuses are readily available. This means you don’t have to risk so much when you initially start playing.
Bigger variety of games
Although there is plenty to choose from in a traditional brick and mortar casino the online games are much bigger. There is a greater variety of slots, bingo, poker, blackjack, roulette etc. If you don’t like one casino then sign up to another or download a new app. That’s a lot easier than travelling to the next casino and then the next to find what you want.
There is nothing to stop you from signing up to new casinos to find out which ones have the games that you prefer. You may receive sign on bonuses when you do or free spins. Nearly all the free to play slot apps will give you free credits to start you off with.
No other people and no distractions
Not to suggest that you are anti social but you may prefer to avoid crowds or maybe you are just a little jaded with the traditional image of casinos with mobs of loud people around the craps table shouting and drinking. Whatever your reasons, you can sit in peace while logged in to your device of choice. If you are playing on your phone then you can plug in your ipod and listen to music or play a movie on your tablet in the background. In short you get to decide on your own experience.
Quick and easy deposits and cashouts
Adding money to your account is simple and quick as is withdrawing any winnings. You will probably be asked to provide ID to combat fraud and verify you are old enough to gamble. This is standard and will usually be a photo ID and a recent utility bill to match your address.
Traditional casinos require you to pay cash which can be inconvenient. Most online casinos and apps have a huge range of payment methods depending on the countries they are serving. Debit cards, PayPal, Skrill, Trustly are common and now even Bitcoin can be used in some casinos.
Disadvantages of Online Gaming
Are there any disadvantages to online casinos compared to brick and mortar ones? Well, as you have read there is the social aspect that is missing and there is no interaction with a real life dealer. One main thing you will need to consider though is it actually legal to gamble in your state or your country? You should check your local laws for which country you are living in. If you are in the states then a quick google of local gambling laws should provide the necessary information. For example, Texas does not allow any form of online gambling currently so be aware of current legislation and play safely.