Gambling is a game of luck. You don’t really know what might happen next and whether or not you would win the next round. There aren’t many strategies that can help make the game predictable, and the fear of the unknown adds to the rush of adrenaline.
The old and gold ways of gambling with cards have now evolved, and casinos have adopted numerous technological innovations to provide gamblers with an even better experience. Now, according to the sources, this industry is worth more than $100 billion, all thanks to the massive digitalization it went through.
Here’s a timeline to help you understand the evolution of the gambling industry over the years:
1790: The first person to make profits through bookmaking, Harry Ogden, analyzed and studied the field and history of horses to place bets with better odds than go with the usual better proceedings. This led to gambling gaining an analytical approach.
1845: While card games that involved monetary wagers were restricted, all types of gambling were shifted to racetracks and forced to stay there. This limitation opened doors for bookies who then came up with new ways to pass through the loopholes.
1961: Gambling was legalized in May, and the number of betting shops rose to 10,000 within six months of legalization.
1986: The invention of the television made the circumstances even better for betting shops. They could now house enthusiasts who couldn’t afford to go to the racetracks. Computer-generated racing courses and fixed-odds betting terminals were also installed to enhance the gambling experience of visitors.
1998: With the Internet taking over the world, companies understood the potential of online gambling. Firms like Betfair and Betdaq started developing websites for online poker and bingo.
2012: The online gambling market saw a massive growth of 80% as compared to the stats of 2008 along with revenue estimated to be at $4 billion.
2019: The growth continued and was now estimated at $53.7 billion.
Gambling on smartphones and mobile apps
Mobile phones and the Internet have become indispensable today. They have revolutionized numerous industries and, over time, developed a need for casinos to offer their games online.
The year 2012 witnessed a massive 75% rise in the mobile gaming industry, while 2019 saw a revenue-generation of $49 billion. Over time, the affordability of phones will contribute exponentially to the mobile gaming industry and is forecasted to hit $56.6 billion by 2024.
In 2017, more than 165 million people used their mobile phones to access gambling websites. Today 2.4 billion people play on their mobile devices, with a significant number using their devices to log in to online casinos, place bets and buy lottery tickets.
Now, this is something people would inarguably love – enjoying your favourite casino games like slots, as well as roulette, baccarat and poker, from the comfort of your home. This is a key factor for the growth of online gambling. People can now even download casinos and play offline when there is low Internet connectivity.
Latest reports suggest that the growth of the gambling industry in India is on an outburst as well, where the exciting factor seems to be the opportunity to play with real money.
Technology and betting shops
While mobile gaming is constantly killing the market for betting shops, they are are thriving to add newer features to attract more players. Shops are introducing touchscreen machines to increase social engagement at the time of gambling.
Furthermore, betting shops focus keenly on helping gamblers socialize and interact.
Besides, there are a lot of games available at a store, allowing you to go for anything that you like! Betting shops are continuously enhancing their services to improve your gambling and socializing experience while creating an environment that you might not find in a mobile game.
However, mobile games continue to offer all these services to gamblers without the need for them to go anywhere. A variety of games, live chat options, live dealer games, virtual reality, etc. in mobile casinos now bring the casino and betting shop environment right into your hands.
With more technological advancements come more opportunities to improve. And this is something the gambling industry is well aware of. What started from cards and slots and evolved to mobile games is now on its way to explore the virtual and augmented reality world as well.
The massive potential of gambling in virtual reality is well-known to the elites of this industry, who are already racing to develop a better VR experience for their
users and capturing the market.