IN RECENT years, the global online gambling market has grown significantly.
Thanks to the ever increasing rate of development of technology which is enabling more sophisticated and accessible ways of playing, in addition to changes in socioeconomic factors across the globe that are expanding the online gambling customer segment, the industry has been one of the most successful in terms on annual revenue and overall growth. According to statistics, the global online gambling market is and will continue growing at a rate of 8.77% per year, up until 2024.
With the rapid growth, a highly competitive and saturated online market has developed, in which online gaming providers and fighting to find and keep customers in a world that’s fierce. As a result, online casino providers are now constantly finding new ways to entice customers, improve retention rates and brand loyalty, and ensure that they are keeping up with the latest trends and technology that today’s consumers demand.
Below, we’ll take a look at the current state of the market, explore the factors driving this rapid growth, and profile some of the best online casinos there are currently including some recommended by bestcasinosites.net.
Technological developments that are promoting the growth of the online gambling industry
As more and more technology is becoming available to us at affordable prices, the experience offered by online gambling is significantly improving. Some of the top technologies that have supported market growth this year include the following –
Online Chatbots – The growth of autonomous online chatbots replaces the need for such large customer service centres, while improving the time it takes to offer customers the help they need. These funds that online gaming providers are saving are being diverted back into the growth and development of the company for an even greater gambling experience.
Artificial Intelligence – AI is a game changer for the online gambling world. Not only can it be used to collect data that makes it easier for people to place more accurate and predictable bets, it enables provider to track user behaviour and collect data on cheating habits, which helps to develop fairer game play for the future.
Machine Learning – While machine learning may not be so beneficial for sports betting providers, it is thought to be helping people to get an edge on the betting shops.
Where in the world are we seeing the most growth for the online gambling sector?
According to data, North America is the fastest growing region when it comes to online gambling. With the abolishment of the ban on online gambling by the Supreme Court in 2018, the industry seems to have been given another chance to flourish, in which four states have now legalised online gambling. While there’s still a long way to go until North America catches up to the rest of the world, the changing rules in the US are offering some hope.
Meanwhile in Canada, the laws are a little bit less straight cut that in the United States, with each region being able to regulate their own gambling laws. However there is a loophole as foreign online gambling sites are allowed to offer their services to Canadian Citizens, providing they are offshore. As for Mexico, the government are currently reviewing online gambling rules in which it’s thought that they could in fact become more stringent.
The best online gambling sites of 2020
As part of the 888 Holdings Group that consists of 888 Casinos, 888 Poker and 888 Sport, 888 Casino is one of the market leaders. Based in Gibraltar, 888 Casino is one of the longest standing online gambling sites, having first been established in 1997. One of their major industry breakthroughs is that in 2013, 888 Casino became the first official online gambling site to be licenced in the United States.
888 Casinos was also name online gambling provider of the year in 2005 and today has over 35 million members. So what makes them so popular? Check out some of the top features below –
Wide Variety of Games – With live poker rooms, the latest slot games and a huge variety of casino games, 888 Casino provides so much choice for players and offers something fro everyone, whether you’re a gambling newbie or a seasoned pro.
Try before you buy – Each game on 888 Casino features a demo, which enables you to try any game and check that you enjoy playing it before you have to part with any of your hard earned cash.
The Live Casino feature – Whether you opt for a game of blackjack or roulette, there are a number of live tables available, with the option of VIP tables for those that are missing the luxury brick and mortar experience.
As one of the most powerful household names when it comes to consumer goods, Virgin Games have certainly had the big reputation behind them to build up their online gambling sites. With one of the best marketing strategies in the industry and a huge team of people working to make the offering a success, Virgin Games is able to offer to of the best sign up deals, some of the biggest jackpots and bonuses, and some of the best technology there is around. Top features of this site include –
Sign Up Bonus – After creating an account with Virgin Games, new members are eligible for a total of 30 free spins on popular sports games when depositing between £10 and £50.
Seamless Mobile Transition – Now more than ever, it’s critical that businesses are able to provide a seamless mobile experience for their clients, in which things such as poor loading times, lack of easy access and complicated login procedures could all result in a serious loss of customers. Luckily Virgin Game save the resources to be able to develop an interactive gaming app that takes the experience to a whole new level.
As one of the most renowned online sports betting providers, Grosvenor is also the UK’s biggest online casino, with over 300 games on offer, 52 physical casinos nationwide in addition to their online casino, and some of the quickest deposits and withdrawals. Top features include –
Gaming Variety – Grosvenor Casinos not only offer the widest variety of online games but also some of the best. Some of their top rated titles include Live Victoria Roulette, Live Blackjack and Live Crazy Time.
A Rich History – With over 40 years in the gambling sector, Grosvenor Casino’s are highly experienced and know exactly what makes their customers tick. This has helped to make them one of the UK’s most trusted online casinos and thus, one of the most popular.
Overall, while the online gambling market seems to becoming more and more saturated, the expanding horizons of online gambling across the world has meant that the industry has been able to flourish. From this year’s events that have meant more people are staying at home and are looking for something to do, to the abolishment of restricting laws in the likes of the United States that’s making online gambling more accessible for residents there.
In addition, as we see more and more technological developments, it seems that we are getting closer to the bridging of the gap between the virtual word and physical worlds. So with some of the best sign-up bonuses available and more variety that ever before, combined with an excellent user experience, now is the best time to try online gambling.