One of the biggest successes of the internet age has been the online casino industry. While gambling existed way before the internet came about, the technology has revolutionised how people play and win. If you live somewhere where online gambling is allowed, you've probably already seen how big the industry has become. It can be hard to avoid some of the advertising and offers for countless different casinos and betting sites. But how did it get to this point?
In this article, we're going to have a closer look at the online gambling industry along with how it took off and what strategies some of the key business players have used to become a success. If you want to know more about the casino business, then you're in the right place.
What was the casino industry like before the internet?
If you liked gambling before the internet came about, things weren't quite as easy. While there were casinos in local areas, these weren't everywhere. For many, their only chance to enjoy their favourite casino games was by making an expensive trip to Las Vegas or other similar cities. Clearly, this is quite a big barrier to simply being able to play a quick game of blackjack as and when you wanted. Smaller, local casinos were becoming outdated and weren't always the most pleasant places to visit.
For those who didn't have a local casino or the ability to go to a resort town like Vegas or Reno, they might have had to rely on unlicensed gambling venues which were even less safe. But that was before the internet changed everything.
How the internet changed everything
As with many other aspects of life, the internet has had a huge impact on the gambling industry. Rightly or wrongly, the internet has helped bring gambling and online casinos to the mainstream.
Gambling online is so much easier and more convenient. It's evidently cheaper, as you can gamble from the comfort of your own home without having to make a trip to the casino and incur all the overheads that are associated with doing that.
Consumers have also got much more choice. They aren't forced to gamble at their one local casino or have a limited option of other nearby venues. Not only is online gambling cheaper for the consumer, it's also faster and has fewer distractions. Because there's so much competition in the industry, most online gamblers can find great welcome offers and bonuses before they start playing at an online casino. The internet has made gambling easier, more appealing and cheaper, as well as arguably more fun. Sites like 13wins.com which lists latest bonuses from online casinos has a big role in that too, there are plenty of new online casinos too.
How legislation has affected the online casino business
One factor that has influenced the growth of online gambling in different locations is legislation. Countries like the UK have given online casinos the ability to easily get licensed and operate. This has seen a massive boom in online casinos and gambling in the country, as well as advertising. In the United States, options to operate nationally have been limited, and smaller online ventures only operate in certain states.
When American legislators moved to ban online poker, that industry saw a massive decline and drop in share prices that it still hasn't really recovered from. Prior to that, the online poker industry was massive in the States, with huge growth and millions of players.
Things do look to be changing somewhat as far as online gambling legislation goes. Recent court decisions have opened up the possibility for more betting sites and casino operators to start offering services across the country. A lot of the initial restrictions were to protect existing bricks and mortar casinos like those in Las Vegas, but these restrictions are slowly being removed.
Every country has their own laws regarding online gambling. Those that have allowed a more open and free stance for both operators and consumers have seen a big benefit to their economy and employment market.
How did online casinos attract new customers
Traditionally, bricks and mortar casinos used to attract new customers by putting on shows and other live events. This isn't really possible for online casinos, so they've had to come up with new methods.
Old casinos didn't have to advertise much if they were the only player in town (and the only option). But there's so much competition with online gambling, this has lead to a highly competitive advertising market. Aside from TV and radio ads, you've probably noticed billboards and other advertising efforts from a wide range of casino brands, including sports team and event sponsorship.
One way some older casinos used to reward or attract players is by offering to "comp" their hotel stay or a meal in the casino restaurant. Again, online casinos can't really do this---but what they can do is offer a bonus. These deposit and signup incentives are a cornerstone of the online casino industry these days and you've probably seen tons of them advertised. They're a great way to get people signed up to the casino and playing with bonus funds without risking as much real money.
As we've already touched on, one of the big reasons for the success of online casinos is the choice of games and themes they offer. Because they aren't limited by floor space or the cost of a new machine, they can offer thousands of different games all within one or two clicks. This means they can have a range of different stakes and offers that appeal to a far wider range of customer. After all, super-low stakes tables simply aren't cost-effective in a land-based casino, yet they can easily sit alongside a range of different games online without taking up expensive floor space.
Many online slots share the same game provider and actually contribute to a global progressive jackpot. This can sometimes be in the tens of millions. Much more than a small local casino that's limited by the number of customers they have on a day to day basis.
Hopefully, you've now seen a bit more about why online casinos have been so successful and how they've managed to grow in a highly competitive industry.