Online Gambling Industry Worth

• Online Gambling Industry Worth Money

/PRNewswire/ - The global online gambling market size is expected to reach USD 102.97 billion by 2025, registering a CAGR of 11.5% from 2019 to 2025.

1. Aug 20, 2018 RECENT GROWTH OF ONLINE GAMBLING In the past decade, the world of online gaming has expanded massively. The industry was worth $41.78bn by the end of 2016 and that’s set to hit the $80bn mark by the end of 2020. Just to put it in perspective, 11% of total internet traffic now comes from online casino players.
2. Nov 05, 2018 FELTON, California, November 5, 2018 /PRNewswire/ -. The global online gambling market size is anticipated to reach USD 73.45 billion by 2024 owing to rising prevalence gambling across the globe.
3. The online gambling industry is projected to grow at a CAGR of 8.77%, during the forecast period 2019 - 2024. This report includes the impact of COVID-19 on online gambling industry.
4. In a study released in May 2018, it stated that the online gaming industry is worth a staggering $116 Billion, whereas Television is worth $105 Billion. Furthermore, we cannot forget that the.

• » History

The history of humanity is inextricably linked with the history of gambling, as it seems that no matter how far back in time you go there are signs that where groups of people gathered together gambling was sure to have been taking place. Now we are not going to attempt to track every single twist and turn in the evolution of gambling in this article, but what we are going to do is to pick out some of the most important dates to act as milestones on the road to today’s gambling experience.

The Earliest Evidence of Gambling

While it is almost certain that some forms of betting have been taking place since the dawn of human history, the earliest concrete evidence comes from Ancient China where tiles were unearthed which appeared to have been used for a rudimentary game of chance. The Chinese ‘Book of Songs’ makes reference to “the drawing of wood” which suggests that the tiles may have formed part of a lottery type game. We have evidence in the form of keno slips which were used in about 200bc as some sort of lottery to fund state works – possibly including construction of the Great Wall of China. Lotteries continued to be used for civic purposes throughout history – Harvard and Yale were both established using lottery funds – and continue to do so until the present day.

Dicing with the Law on the Streets of Ancient Rome

The Greek poet Sophocles claimed that dice were invented by a mythological hero during the siege of Troy, and while this may have somewhat dubious basis in fact, his writings around 500bc were the first mention of dice in Greek history. We know that dice existed far earlier than this, since a pair had been uncovered from an Egyptian tomb from 3000bc, but what is certain is that the Ancient Greeks and Romans loved to gamble on all manner of things, seemingly at any given opportunity. In fact all forms of gambling – including dice games – were forbidden within the ancient city of Rome and a penalty imposed on those caught which was worth four times the stake being bet. As a result of this, ingenious Roman citizens invented the first gambling chips, so if they were nabbed by the guards they could claim to be playing only for chips and not for real money. (Note that this ruse will not work if attempted at a Vegas casino).

Playing your Cards Right in China

Most scholars agree that the first playing cards appeared in China in the 9th century, although the exact rules of the games they were used for have been lost to history. Some suggest that the cards were both the game and the stake, like trading card games played by children today, while other sources believe the first packs of cards to have been paper forms of Chinese domino. Certainly the cards used at this time bore very little relation to the standard 52 card decks we know today.

Baccarat in Italy and France

The earliest game still played in casinos today is the two player card game of Baccarat, a version of which was first mentioned as long ago as the 1400s when it migrated from Italy to France. Despite its early genesis, it took hundreds of years and various evolutions to arrive at the game we know today. Although different incarnations of the game have come and gone, the standard version played in casinos all over the world came from Cuba via Britain to the US, with a few alterations to the rules along the way. Although baccarat is effectively more of a spectator sport than a game, it is a feature of just about every casino due to its popularity with high rolling gamblers.

Blackjack through the Ages

Some suggest that the earliest forms of blackjack came from a Spanish game called ventiuna (21) as this game appeared in a book written by the author of Don Quixote in 1601. Or was it the game of trente-un (31) from 1570? Or even quinze (15) from France decades earlier? As with all of these origin stories, the inventors of games of chance were rarely noted in the historical annals. The French game of vingt-et-un in the seventeenth century is certainly a direct forefather of the modern game, and this is the game that arrived in the US along with early settlers from France. The name ‘blackjack’ was an American innovation, and linked to special promotions in Nevada casinos in the 1930s. To attract extra customers, 10 to 1 odds were paid out if the player won with a black Jack of Clubs or Spades together with an Ace of Spades. The special odds didn’t last long, but the name is still with us today.

First Casinos in Italy

The earliest gambling houses which could reasonably be compared to casinos started to appear in the early 17th century in Italy. For example, in 1638, the Ridotto was established in Venice to provide a controlled gambling environment amidst the chaos of the annual carnival season. Casinos started to spring up all over continental Europe during the 19th century, while at the same time in the US much more informal gambling houses were in vogue. In fact steam boats taking prosperous farmers and traders up and down the Mississippi provided the venue for a lot of informal gambling stateside. Now when we think of casinos we tend to picture the Las Vegas Strip, which grew out of the ashes of the Depression in America.

The Little Wheel in Paris

Roulette as we know it today originated in the gaming houses of Paris, where players would have been familiar with the wheel we now refer to (ironically enough) as the American Roulette wheel. It took another 50 years until the ‘European’ version came along with just one green zero, and generations of roulette players can be grateful for that. During the course of the 19th century roulette grew in popularity, and when the famous Monte Carlo casino adopted the single zero form of the game this spread throughout Europe and most of the world, although the Americans stuck to the original double zero wheels.

Poker: Bust to Boom

It’s hard to pin down the precise origin of poker – as with a lot of the games mentioned here, poker seems to have grown organically over decades and possibly centuries from various different card games. Some have poker’s antecedents coming from seventeenth century Persia, while others say that the game we know today was inspired by a French game called Poque. What we do know for sure is that an English actor by the name of Joseph Crowell reported that a recognizable form of the game was being played in New Orleans in 1829, so that is as good a date as any for the birth of poker. The growth of the game’s popularity was fairly sluggish up until world poker tournaments started being played in Vegas in the 1970s. However poker really exploded with the advent of online poker and televised events allowing spectators to see the players’ hands. When amateur player Chris Moneymaker qualified for and won the 2003 world poker championship after qualifying through online play, it allowed everyone to picture themselves as online poker millionaires.

One Armed Bandits Appear in New York

The first gambling machine which resembled the slots we know today was one developed by Messrs Sittman and Pitt in New York, which used the 52 cards on drum reels to make a sort of poker game. Around the same time the Liberty Bell machine was invented by a Charles Fey in San Francisco. This machine proved much more practical in the sense that winnings could be precisely regulated, and marked the beginning of the real slot game revolution. The fact that some new video slot games still feature bell symbols dates back to this early invention. While early machines spewed out cigars and gum instead of money, the money dispensing versions soon became a staple in bars and casinos around the globe, and when the first video slot was invented in 1976 this paved the way for the online video slots which were to follow.

Gambling in the US: Two Sides of the Same Coin

The United States has always had an up and down relationship with gambling, dating back to when the very first European settlers arrived. Whereas Puritan bands of settlers banned gambling outright in their new settlements, those emigrating from England had a more lenient view of gambling and were more than happy to tolerate it. This dichotomous relationship has continued until now, and in 1910 public pressure led to a nationwide prohibition on gambling. Just like the alcohol prohibition of the same era, this proved somewhat difficult to enforce and gambling continued on in an only slightly discreet manner. The Wall Street Crash and the Great Depression that this spawned in the early 1930s led to gambling being legalized again, as for many this was the only prospect of alleviating the grinding poverty which they suffered through. Although gambling is legal in a number of States today –most famously in Las Vegas, Nevada - online gambling is still something of a grey area in the United States. Right now, many international internet casinos are unable to accept American clients, although the signs are that this will change in the near future.

The New Frontier for Gambling

Microgaming is one of the largest casino and slot game developers in the world today, and they are also considered to be pioneers of online gambling. The leap into the world of virtual casinos was taken all the way back in 1994, which in internet terms is kind of like 2300bc! Online gaming was worth over a billion dollars within 5 years, and today is a multibillion dollar industry with over a thousand online casinos and growing. The first live dealer casinos appeared in 2003 courtesy of Playtech, bringing us closer to a hybrid between brick and mortar casinos and the virtual world.

Gambling Has Gone Mobile

Since New Jersey legalized online gambling in 2011, there has been a boom in the interest people have in it. America has seen a move towards legalizing it state by state, as well as experiencing the rapid rise in mobile gambling. Across the globe, internet users are gradually veering away from their desktops and towards their handheld devices. This is true of online gamblers too, wanting to be able to enjoy their favorite games whilst on the go. The top gambling sites out there have recognized a market and have stepped up to deliver. With a wave of impressive mobile focused online gambling destinations taking the world by storm, it's safe to say that desktops are being left far behind in favour of more mobile alternatives.

…The Future

What Comes Next?

It is just about as difficult to predict the future for gambling as it is to uncover some of the origins of the gambling games we know so well today. Much of the focus at the moment is on the mobile gaming market, with online casinos scrambling to make more content compatible with the latest hand held devices. Virtual reality technology is just taking its first steps as a commercial proposition, and you can be sure that there will be gambling applications down the road. How would you like to sit around a virtual poker table with a bunch of your friends from all over the world, share a few laughs, try to tell if you can spot a tell-tale facial tick; and all this from the comfort of your home? VR Headsets can make it happen – maybe not today, but certainly just a few years down the track if technology continues to advance in bounds and leaps.

And after that? Well who knows, but when it comes to gambling all things are possible.

References

• Dice: Game Pieces (Britannica.com)
• Baccarat (card game) (Wikipedia.org)
• Twenty-One (card game) (Wikipedia.org)
• How Casinos Work (HowStuffWorks.com)
• Where Did Poker Originate? (History.com)
• History Of Poker (Wopc.co.uk)
• Chris Moneymaker (Wikipedia.org)
• Historical Interlude (VideoGameHistorian.com)
• Charles Fey and San Francieco's Liberty Bell Slot Machine (California Historical Quarterly)
• Microgaming: About Us (Microgaming.co.uk)
• New Jersey Now Allows Gambling via Internet (NYTimes.com)

How Technology Has Made Gambling a $73 Billion Industry How Technology Has Made Gambling a $73 Billion Industry

We are currently living in the halcyon days of online gambling with the market growing at such a rate that it’s expected to be worth a staggering $73.45 billion in 2024. The key driver in this growth has been the technical renaissance of online gambling which has opened the doors to a new breed of customers and a wider audience.

Experts are also predicting that more and more countries (and in the case of the US, more states) will legalize online gambling, providing another boost to the industry already growing alongside advances in digital technology. In this article we take an in-depth look at how the online gambling market is going to grow to unprecedented levels.

Mobile gaming on the rise

If you’re over the legal age for gambling in your country then you are only seconds away from placing a bet at any given time. Mobile apps have come a long way in the last 10 years and almost every major bookmaker on the planet has a state-of-the-art mobile app that’s available on all devices.

Sports betting is by far the biggest market for mobile consumers, with the vast majority of adults in the UK having bet on sports at least once in their lives. The number of people using a mobile phone or tablet to bet increased to 51 percent in 2017, according to the Gambling Commission. And with mobile devices becoming as powerful as most PCs, surely this trend will continue. From big bets to small accumulators, mobile gaming makes betting easy and accessible.

All major sports events aired in the UK are awash with advertising for online betting. Whether that be on the shirts of the players, the advertising in stadiums or by way of interactive advertisements urging people to bet, you’ll see it at any sporting event.

In addition, technology has advanced to a stage where avid gamblers can participate in casino games streamed from real land-based casinos and interact with players from all over the world.

The introduction of 5G mobile networks is expected to make holographic phone/video calls a reality and it will not be long until this technology is incorporated into the world of online gambling, with virtual reality already being used by some providers. ‘Live Beyond Live’ virtual reality casinos are slowly becoming a staple on some sites allowing customers to gain the ultimate immersive experience without ever leaving the comfort of their own home.

Gambling regulations relaxing across the world

Europe is by far the most valuable region in the world for online gambling, with the continent representing $16.42 billion of the market in 2016. That is largely due to the widespread legality of the practice in Europe, specifically in the UK.

Although the British government regulates the industry in the country, the reach of online gambling is phenomenal in the UK. It’s impossible to go one day in the country without being exposed to some form of gambling advertising.

And the US looks set to follow its lead. Four American states have fully legalized online gambling, and more are expected to follow. Once Donald Trump is replaced as President and his government’s ties are cut with land-based casino tycoon Sheldon Adelson – who is militantly anti-online gambling – the industry is expected to thrive in the US.

Countries such as Japan are moving towards legalizing online casinos as well as a large number of African countries. The main draw for governments is its ability to generate further revenue to reinvest in public services such as schools, hospitals and transport.

At the forefront of technological innovation

Early online casinos and betting sites were incredibly primitive by today’s standards, but an industry with enormous resources has focused on ensuring their online sites utilize cutting edge technology.

Money deposits are instantaneous, and 24/7 customer support is already available to players. There have also been steps to make online gambling more interactive, with players allowed to chat with one another in play and also with the croupier.

For now, the pinnacle of online gambling is Live Casino, where players can link up with real-life dealers via video connection and bring the human casino experience to their living rooms. All the while, slots and RNG-powered games are becoming more engaging than ever, with hundreds being released weekly to tap into an increasingly broad range of niches. With all this available from the convenience of their own living room, few can argue with gamers preferring gambling at online gambling operators like this to the real thing.

These technological advances have already had an impact on land-based casinos, particularly those in Las Vegas that have reported losses in revenues and a drop in visitor numbers in recent years, attributing much of that to <href=”#22267622786a”>the rise in online gambling.

Increasing variety of gaming options

Regardless of how good a land-based casino is, the amount of games they can offer is based on the physical size of the establishment. Casinos such as The Bellagio boast about having over 2,300 video machines, but that’s a drop in the ocean compared to online providers.

Even modest online providers can now match that level of slot machine games available on their site, and the range of games is almost limitless online. If you want to play poker, baccarat, slot machines or bet on the latest soccer match you can do that all in the same place online.

No navigating busy casinos. No waiting for other gamers to finish. Simply playing what you want, where you want and how you want. Yet another reason that online gambling is flattening land-based betting and moving towards market domination.

Summary

In the UK, the Labour Party has vowed to crack down on the online gambling industry, but even if they get elected anytime soon – the juggernaut of online gambling will keep rumbling on. Its rate of growth in the UK alone is expected to continue in an upward trend as more players head online in droves and the world follows suit.

It’s entirely possible the online gambling industry will be worth $73.45 billion by 2024, but don’t be surprised if the reality actually exceeds that figure.

Online Gambling Industry Worth Money

https://techspective.net/2018/11/29/how-technology-has-made-gambling-a-73-billion-industry/