The internet was barely beginning to grow when the very first legal gambling site opened in 1996. By now twenty-three years later online gambling has grown from a handful of sites making tens of thousands of dollars a year, to tens of thousands of sites and the overall yearly income is now close to sixty billion dollars.
The world has changed in many ways. What's next?
We're not simply seeing the rise of online gambling we are witnessing the explosion of online gambling. We'll eventually see a day where online gambling surpasses all other types of entertainment. Online gambling generates huge amounts of tax revenue — a sum far greater than what most countries would ever consider passing up. In the years ahead, more and more states and countries will move toward legalizing online gambling. As online gambling becomes legitimate, regulated, safe and widely accepted, more companies will enter the fray. But, in addition to those companies entering the space, established companies will develop their own versions of wagering games to compete with existing wagering options. Think "Angry Birds" or "Candy Crush" with a wagering option.
Currently (as of 2021), online gaming is far less convenient and cumbersome than going to a land-based casino. Signing up, depositing funds, getting a bonus, and withdrawing winnings these are all time-consuming hurdles that do not exist for gamblers at land-based casinos. For example, as of today, gamblers may be required to wait days or even months before receiving their winnings at an online casino. The ultimate goal of online gaming is to provide an experience that is identical to that of a land-based casino: you arrive, place your wagers, play, and leave with your winnings.
You can reasonably expect that online gaming will become integrated with commerce technologies and other payment systems, so that it is as easy and instantaneously available as purchasing a book or toaster at an online retailer. Simply log onto a website or open an application, spin the reels or take a couple of rounds of cards, and your bank account or credit card company will be credited/debited instantly. No need to make deposits or accept bonuses or read the fine print. Just wager, play, and pay.
Land-based casino players have some advantages over online gamers. They have more time to think. They can research information while they gamble. More important however, they can utilize computers to perform probability calculations and predict outcomes. Expect to see specialized software tools specifically designed for online gamers to assist them during gaming sessions. The software will track the game being played, determine the odds associated with each outcome, and recommend the best times to bluff, place bets, etc. All online players will essentially become experts.
This will drastically alter the nature of online gaming. If all players are equipped with predictive software, then all players competing against one another in a poker room will have similar skills levels and therefore the competition will be based on virtually pure chance. Blackjack players will be able to instantly calculate how much a house edge exists in a given game based upon the rules governing the game and opt out of games offering lower RTP (return-to-player). The predictive (card counting) software will enable players to select which games offered at a particular casino offer the highest RTP values and thus maximize their returns.
In all likelihood, the most popular online gaming options in 10 years will bear little resemblance to current land-based casino offerings. Let us use slots as an example. Slots continue to exhibit extraordinary improvements in graphics and technology yet, despite these developments, modern slot machines operate and feel little different from the original Liberty Bell slot machine created in 1896.
As slot machine games become more interactive/immersive in order to keep players "in-the-zone", they will diverge further from their historic roots. Newer slot machine games will incorporate additional features/puzzles/social interactions/video game-style play to encourage players to spend more time logged-in to their favorite sites. It is reasonable to anticipate that we will begin to see distinctions between mobile/video games and land-based casino games diminish as well. As more Governments establish laws to govern online gaming activity, developers of games will produce "multi-version" computer games that have both non-gaming versions and separate versions that include wagering components. Imagine playing "Angry Birds" or "Candy Crush" with wagering options?
Because of the exponential growth in players and online gaming operators — i.e., because there are so many online gaming operators competing for new players — online gaming operators must decrease their profit margins in order to attract new customers. For example, online slot sites have released several slot applications having substantially better RTP (return-to-player) rates than land-based casinos. Although these applications reduce their profit margins by lowering RTP values, they generate more revenue through player participation increases. In addition to raising RTP values to attract players — another method used to attract players — decreasing minimum wagers also attracts players.
There will undoubtedly be many low-wager/low-RTP games produced by online gaming operators using low wager limits (i.e., "micro-wager") as an alternative method of attracting new players. Micro-wager games will permit players to gamble continuously throughout the day losing merely a few dollars an acceptable loss for almost anyone. When multiplied by tens-of-thousands/hundreds-of-thousands of users engaged in micro-wager gaming operations, it creates enormous potential for online gaming operators.
When micro-wager gaming arrives, everyone will engage in it. And we will remember 2021 fondly saying "do you recall...?"
Since the very first legalized gaming site went live in 1996, online gaming has grown exponentially. From the initial few sites earning tens of thousands of dollars per year to tens of thousands of sites earning nearly $60 billion annually. The rapid growth of online gaming clearly demonstrates the increasing popularity and acceptance of online gaming as a form of entertainment and source of revenue.
All around the globe Governments recognize the billions of dollars generated by taxes from online gaming and are rapidly adopting legislation enabling them to regulate it legally. As Governments realize the economic benefits of legalizing online gaming, more states and nations are anticipated to enact regulations surrounding online gaming within the coming years.
The future of online gaming encompasses providing gamblers with a seamless user experience equivalent to land-based gaming establishments. one element facilitating this ease of use is through integration of modern payment technologies resulting in real-time transaction processing. Essentially, the end-goal is to eliminate cumbersome processes (signing up, depositing funds, accepting bonuses, etc.) experienced today with online gaming so that gamblers can play/gambling/win/pay-out quickly.
Online gamblers will soon benefit from sophisticated software programs capable of assisting them with strategic planning through the calculation of probabilities and suggesting ideal game actions. Through such assistance, online gamblers will achieve parity amongst themselves, ultimately leading to games based primarily on chance rather than skill (especially in environments such as poker rooms).
As technology improves, online gaming products should become dramatically different from on-site casino products. Gaming products may become more engaging through the incorporation of various video game elements (e.g., puzzles, social groupings) designed to promote extended player involvement. Virtual reality-type products utilizing newer technologies and products combining regular gameplay with wagering elements are two areas expected to expand significantly.
Due to the vast numbers of players engaged in online gaming activities today, and due to the competitive nature driving the industry forward it is highly probable that betting minimums will decline. In turn, this will create opportunities for micro-gaming ("games requiring extremely low wager requirements"), allowing gamblers to continually wager/bet throughout the day while experiencing relatively minor losses.
Low-RTP (return-to-player) value games are likely to proliferate with wager requirements dropping below a dollar. In fact, micro-games permitting gamblers to wager mere fractions of cents are feasible, enabling continuous wagering/betting throughout the day while maintaining daily losses under five dollars. Such approaches will be essential in attracting and retaining players for online gaming operators competing for dominance in the marketplace.
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