Industry-leading stats portal, Statista estimates that the Gross Gambling Yield (GGY) of the global casino industry is approximately $130 billion (2019) with 94% of that being generated by bricks and mortar casinos around the world. The share of online gaming gross win from overall gaming gross win accounts for 10%. The rapid and unprecedented growth of the casino industry is such that GGY has increased by $30 billion since 2016. The US casino market is notable in this regard. The US gaming industry generates revenues of approximately $77 billion, with poker win accounting for $120 million.
Extensive statistical analysis was conducted by Mordor Intelligence on the online gaming market. The forecast for 2019 through 2024 estimates that the online gaming market (casino, poker, sports betting, et al) will increase at a compound annual growth rate (CAGR) of 8.77% from 2019 – 2024, reaching a total of $87.75 billion by 2024. The largest online gaming market is Europe, and the fastest-growing market is North America. Dramatic technological advances are fuelling the growth of online gaming, particularly developments in artificial intelligence (AI), mobile friendly gaming platforms, and the integration of real-life dealers with virtual gaming technology. All of this is unfolding against a backdrop of increased player engagement, particularly with a rising number of female players now entering the ranks. In the US alone, multiple states are in the process of regulating online gaming for legal-age players. Already, Pennsylvania, Nevada, New Jersey, Delaware have frameworks in place to allow fully regulated gaming online.
Regional growth rates are particularly important when it comes to evaluating the state of global online gaming activity. Low-growth areas include Africa, the Middle East, and Latin America, mid-growth areas include Europe and Asia, and high-growth areas include North America and Greenland. The largest growth area in the United States is currently New Jersey, although Pennsylvania is slated to overtake New Jersey in coming years, owing to its large population of eligible players. Countries like Canada and Mexico are currently assessing frameworks for fully regulated online gaming activity.
Casinos Build Trust with Live Dealer Games
One of the most notable trends in the online gaming arena is live casino games. This technological marvel is fashioned off the popularity of an authentic casino experience where players interact with croupiers in real-time, face-to-face. The online casino variant of the casino table game experience uses HD cameras, with live streaming technology to broadcast real-time action direct to your PC, Mac, Android, or iOS device.
Coupled with mobile-friendly operations, the live casino option brings a wealth of entertainment possibilities to players’ screens. These include Live Blackjack, Live Roulette, Live Baccarat, Live Casino Hold’em, and Live Casino Baccarat, among others. You can easily find your favorite dealer at Mansion, as you sift through a selection of nattily-clad croupiers, at affordable table stakes. The live gaming option confers all the bells and whistles enjoyed at a Las Vegas casino, without any of the hassle of getting dressed to the nines, taking time off, and making the journey to the casino.
A big part of the problem experienced by online casinos in their early years was credibility. Players simply didn’t trust the ‘behind-the-scenes’ systems and processes governing outcomes at online casinos. These virtual casinos toiled long and hard to foster an atmosphere of greater transparency, reliability, and trust with players. This is done by way of RNGs (random number generators), and the introduction of live casino games.
Since live dealer games do not require random number generators – players inherently trust them more than high-tech software which randomizes outcomes. Interactions between players and live dealers are authentic and credible. Players can text dealers in real time, and watch dealers spin the roulette ball around the wheel, deal cards in Blackjack, Baccarat, Caribbean Stud poker, place bets, pay bets, and shoot the breeze. Perhaps the age-old saying ‘Seeing is Believing’ holds sway with players and their live dealer games.