We are entering a world in which going to a casino physically is a by-gone. The new era involves online gaming, online learning, online voting, among many other things. It is no different for casinos.
Change is however coming fast, and people want to play the same casino games anywhere, everywhere. They are therefore switching to mobile casino games, which are maybe more fun and convenient.
With mobile phones, even in the most remote areas, you could still play. Probably even when traveling from one place to another, you could still enjoy your favorite mobile casino games.
We are going to look at why the mobile casino games industry is growing so fast. Also, how big it is, factors contributing to the growth, among many other angles.
How big is the industry?
There are over two billion people using smartphones currently. Most of them are the younger generation, mostly ranging from the age of 15 to 35. These are the people who were born when smartphones were being introduced or were already in full use like now. They do not know any other way to communicate other than through smartphones.
This means that most if not all of their activities are undertaken using a smartphone. The other generation or age group of people over 35 have also had to adapt. Not everyone plays mobile casino games, and not all smartphone users are of age.
Factoring that out, it eliminates a serious number of people but still leaves a huge number. Whether it is android or iOS, these companies record billions of phones sold yearly. If even half of the play, that is a very significant number.
The market value of mobile casino games
There is no accurate figure when it comes to how much the mobile casino games industry is worth. The estimates are occasionally below par, but they still offer an insight into what the market’s real value is.
As per multiple reports recently, the current value of the market is 71 billion dollars and rising. That value could buy many different industries at the moment and still leave enough to feed several countries.
As if that is not surprising enough, the same reports claim that the value will only increase. And not just by one or two billion dollars. In the next few years, maybe five or six, the value is expected to double.
It is estimated to be around 153 billion dollars five years from now. China and the United States are the leading countries in the income from mobile gaming as a whole.
Reasons why the mobile casino gaming industry keeps growing
The industry is not just erupting out of nowhere. Some key factors have played part in its rise and success.
Gambling from your mobile phone is on many accounts cheap. First, it saves the hustle of transportation, whether private or public. It also allows a player
to assess their finances and enjoy gaming at the same time. It is also very simple.
However, those are the minor reasons. The main reason mobile gaming is considered cheap is almost everyone can afford a smartphone. This especially goes to those who gamble, meaning they have sorted their primary needs and have a surplus.
Convenience is a big part of why this industry has developed. In this generation, people love to multitask and make the most of any situation. For instance, if a young CEO comes from a long tiresome meeting, they would want to relax. A perfect way to do it, even from the comfort of their house, is mobile gaming.
Whether it is a casino game or a bet, they can do it without breaking a sweat. This even encourages the well-off to spend more, hence helping the industry grow.
Has a large audience
This is pretty much why the net worth of the mobile gaming industry is at 71 billion dollars and growing. More people have smartphones, and a lot of free time, especially given the world’s recent predicament, Covid-19. People have learned to enjoy their free time appropriately, to the benefit of companies like mobile casino gaming companies. Also, the majority of players are youth, who always flock to each other.
Introduction of crypto
Cryptocurrency is the most talked-about trend right now. It has influenced a lot of sectors, more so ones that deal in gambling and investments. The majority of people are buying crypto and just looking for ways to spend it.
Mobile casino games have introduced banking methods that allow users to pay using crypto. The business has not been the same since, as statistics suggest.
Mobiles are simply secure. With the use of VPNs, users are sure that anything they don’t want to be known will stay that way. Financial security has also played a big part as mobile banking is fast and secure.
As it is, gambling as an industry has transformed with the introduction of online casinos, using crypto among others. More developments are currently underway, which will elevate the industry to further levels. These developments entice the younger generation which is the majority to continue playing and gambling using mobiles. A good example is the introduction of virtual reality to mobile casinos. Virtual reality allows players miles away to connect and feel like they are all together at the same place.
This increases the level of intensity and competitiveness of the games, which helps grow the industry further. Apart from VR, apps are also gaining popularity.
Combining all the games offered at the casino and putting them in one app has helped elevate the industry. This is because sometimes online sites may lag, or
take time to process actions like payments. Apps put all this together such that with just a single tap, money can be moved to your account from the casino.
As it is, mobile casino gaming is one of the most commanding industries. Reports and statistics show that this is unlikely to change any time soon. Investing in such a sector is the best idea possible.