The Rapid Growth of the Online Gambling Industry in the Last 20 Years

Img source:

Online gambling has been massive lately, while its first appearance happened in the mid-1990s. In 1994, the first licensed online casinos appeared. The Kahnawake Gaming Commission began its operations soon after, in 1996, and issued the first licenses. The number of approved internet casinos expanded from 15 to 200 between 1996 and 1997. In the very beginning, online gambling was simple and players were offered popular gambling games such as roulette and blackjack.

Over time, the companies behind such sites began to develop more advanced games, such as slots, poker, and many others. Today, the online gambling industry is huge and worth billions of US dollars. Thousands of casino sites are just part of the story, as online bookmakers, poker rooms, fantasy sports leagues, and many other facilities are offered around the world, as well.

The rapid growth of popularity among players

img source:

Online gambling is growing more common and popular around the world as time goes on. As previously stated, the first gambling websites were launched in 1994, and by 1998, the sector had produced about a billion dollars in revenue. The early 2000s saw the introduction of the possibility to play and talk with others, which accelerated the growth of online gambling.

As early as 2001, about 8 million people were gambling online. This piece of entertainment, like all other Internet-related enterprises, grew at an astonishing rate during the 2000s. By 2008, the amount of one billion had risen to 21 billion, and by 2018, it had risen to nearly 55 billion USD. Such a rise could not have been predicted because it would not have been conceivable without the incredible speed with which internet technologies have progressed.

When it comes to online gambling, gamblers all over the world now have an overabundance of possibilities. Because of the advancement of mobile technologies, you can now play casino games, poker, and bet on sporting events on your mobile phone, whether you’re at home, on the street, or at work.

Different types of online gambling

Img source:

Many people associate online gambling with a casino or a bookmaker, but the truth is that there is a variety of content and types of games of chance available on the Internet today that provide a chance to win at risk. The following are some of the most popular forms of internet gambling: casino, slot games, poker, bookmakers, bingo, live casino, fantasy sport, lottery, and many more. Given such a wide selection of options, players of all kinds can enjoy their favorite form of gambling.

It is important to mention the fact that today’s industries of this kind carry huge risks since there are a large number of sites that are not licensed at all, or there are the ones that have licenses from obscure and illegitimate organizations. If you plan to play online, make sure you find a casino, bookmaker, or any game site licensed by the authorities and according to the law of the country that you’re playing in.

Online gambling around the world

img source:

While European countries have a pretty serious approach to online gambling and laws that regulate such things, many other countries have no laws for this industry or have very strict laws. For example, the United States, one of the richest countries on the planet, has only recently received the first licensed online gambling sites, while in many Asian countries, players can play on all sites without much control.

Enormous challenges for online casinos, bookmakers, and other administrators are certainly cash exchanges, which must be both quick and secure at the same time. So nowadays, hundreds of installment and withdrawal processors are utilized within the online gambling business, a few of which offer payments specifically from bank accounts and cards, and others offer new kinds of payments, such as e-wallet.

While you might not expect this, rich countries are among those that mostly defend and regulate online gambling, and in many European countries, it is not possible to register such sites. Either way, players around the world are finding ways to play their favorite games, and the advent of Bitcoin sites has made this much easier.

The future of online gambling

Img source:

Today, this industry contains thousands of operators and sites that offer a variety of games, and this number is likely to grow even more in the coming years. The only problem for those who organize gambling on the Internet will be the laws in various countries, but with the opening of the American market, it is safe to say that the industry is waiting for at least another decade of growth and prosperity. The COVID-19 pandemic has probably helped in a way the rapid growth of online gambling.

Since people were forced to stay home, they spent most of the time in front of their computers (during the day they were working, and during the night, most of them were trying to find a way to entertain themselves). It is believable that this industry will continue to grow, where more and more people will have an access to the Internet, finding things they like much easier. It is believed that in the next five years, people will continue to gamble mostly on sports events, after which comes poker, casino, and others.

Looking for a legible site to gamble?

Img source:

As you could see, online gambling has really grown in the last 20 years. The world’s pandemic has made it easy for bookmakers and online gambling businesses to earn their money. The whole process has been booming, and we can thank a huge variety of games & new slots for this development. If you’re looking for a fun and exciting way to spend your day, but also to increase your bank account balance, why not try out the best site for online fun? Your winnings can be doubled and transferred to your account in the shortest time possible. Find a game that suits you, and browse through your options right here