2023 Gambling Recap
A 2019 Statista survey revealed that global gambling revenues were nearly $46 billion. One year later, that figure had increased to just over $55 billion, and today, according to some quarters, gambling revenues are at a whopping $95 billion.
Not only is gambling one of the fastest-growing industries, but it is also one of the most changeable. Things are in constant flux, with casinos, game designers, and other stakeholders doing everything they can to keep things fresh for patrons.
Just a few years ago, it was impossible to fathom anyone gambling in a casino of their choice right from the comfort of their home. Today, online gambling is a huge industry that is responsible for much of the revenue casinos make every year.
It is estimated that in the past four years, more than 80 million people have taken up online gambling, and in North America, much of the growth can be attributed to aggressive marketing and partnerships between the right organizations.
American casinos invest massive amounts to make sure their patrons have the best, are comfortable, and keep coming back. The market has a sturdy regulatory framework which engenders a high level of consumer trust and makes it easier to get new patrons.
A mature regulatory framework means that consumers are protected, and when they feel safe they are more likely to engage. Casinos invest huge amounts of capital on platforms that secure user data and user payments, making sure that data losses are minimal and that every winner gets their money deposited to them without any delays.
Many traditional casino games that were once only available on the casino floor can now be played at home simply by registering with a casino and putting up a deposit amount to wager. Games like poker, craps, baccarat, and roulette now only require that one has a high-speed internet connection, and they can play wherever they are located.
Online casino dominance is just one of the trends that has taken the casino world by storm. Several others cannot be ignored, and they have been responsible for much of the growth within the industry.
Live dealer games popularity and enhanced player protection that coincides with the rise of online gambling has also made a significant difference. Let’s look at each of these in detail so that we can have a better understanding of what the landscape will look like in 2024.
Online casino dominance
Online casinos have become a highly-significant earner for the industry. In the last ten years, they have risen prominently, platforms have become more popular than ever, and membership has grown exponentially.
There is no indication that growth will slow down any time soon; the way online gambling is structured and the convenience it offers to users ensures continued growth.
Players can access a wide variety of casinos, choose from a myriad of games, and take advantage of multiple betting options without leaving their homes.
Many people who used to save casino visits for holidays are now able to go online and enjoy a game or two every day, and many who had never tried gambling before are getting a good understanding of how it works right from home.
The Covid-19 pandemic played an important role in accelerating the growth of online gambling. When people were stuck at home with nothing else to do, many turned to online gambling websites to pass the time, and they didn’t stop after the pandemic passed.
They still enjoy several games each week because it is a convenient and accessible way to relax, and many of these websites offer attractive bonuses and promotions.
The casino industry, in response, has invested heavily in promoting online gambling sites, ensuring that players are safe, making sure that the sites meet regulatory standards, and improving infrastructure.
Among their offerings are live dealer games (more on this later), virtual reality casinos, and blockchain-based websites. With increased investment, enthusiasts can expect to see an even bigger variety of games in the coming years as well as more secure platforms.
Live dealer games popularity
Live dealer games have been a game-changer for casinos. Introduced in the early 2000s, they allow enthusiasts to immerse themselves in the full casino experience. Gamers are willing to pay to participate in games online, taking advantage of the social interactions that they enjoy without leaving their homes.
Advancements in technology, the availability of high-speed internet connections, and a proliferation of high-tech devices mean that just about anyone can take part in a live dealer game.
The concept is quite simple. Players log onto a platform where they find a live game going on, with a live dealer and live players. They can place their bets and join the game, or they can sit back, learn, and enjoy the interactions.
They can enjoy an authentic casino atmosphere in the comfort of their homes, meet other players, learn from dealers, and find out what is happening in their casino of choice.
Live dealer games are unlike anything else that casinos have to offer. They make for a cheap and convenient way for people to visit top gambling destinations like Las Vegas, Reno, and New Jersey without spending any money.
Their odds of winning aren’t reduced because they are at home. If they opt to participate in the ongoing game, they stand as good a chance as if they were playing in the casino. The player watches everything in real-time, and there is no risk of unfair outcomes.
The gambling industry quickly realized the massive potential in this sort of play, and many casinos have invested huge amounts of money in making sure that their live dealer games are almost as good as the real experience.
Many now pay influencers to play the part of dealers, create a special ambiance that is sure to appeal to players at home, and offer enticing bonuses and prizes for those who take part.
Live dealer games are expected to become even more popular in the coming years, attracting more and more users and expanding their offerings.
Rise of mobile gaming
Mobile gaming has taken the world by storm, and one of its biggest beneficiaries has been the casino industry. Back in the early 2000s when mobile phones started to become commonplace, Nokia created a game called Snake. Its uptake was so good that it wasn’t long before thousands of new games appeared on the scene.
Today, there is hardly a mobile phone owner who doesn’t have a game or two on their phone. By the end of 2022, there were nearly half a million games available in the Google Play Store, and more continue to be released every day.
Casinos have taken note of this huge opportunity, and many now have apps that users can install directly on their phones. All they need to do is visit the games store and download the game they are interested in onto their phones, and they can play whenever they want.
Apps offer a wholly immersive experience, some going as far as to host tournaments, announce winners, and pay out significant amounts of money. Bonuses and promotions keep players coming back and participating in casino games.
Many of these apps offer players free chips to play, double their deposits so that they can play for longer, or allow them to collect points that they can use in the game of their choice.
Gambling establishments spend large amounts of money to make sure that these platforms are secure and that users don’t have to worry about their data falling into the wrong hands. They deposit winnings directly on the app, and players can withdraw them in a variety of ways.
As technology gets even better and more people invest in high-tech mobile devices, it is expected that mobile gaming will get even better and attract more people. Casinos are poised to take advantage of these developments, many investing heavily to ensure that they are at the forefront of the industry.
Enhanced player protection
Online security is a concern in just about every industry. In gambling, it is of even more concern because not only do these establishments handle large amounts of money, but they also handle plenty of user data. If they do not put measures in place to protect patrons, they can incur significant losses that can set them back.
It is standard for casinos to ask users to provide personal details like their name, email address and phone number, their age and home address, and in some cases banking information so that their winnings can be deposited directly. This is sensitive information that is worth guarding, because if it falls into the wrong hands, not only does it cost the establishment money, but it also leads to an erosion of trust.
Casinos that have an active mobile gambling scene and live dealer games are keen to ensure that they have the latest encryptions in place. Gambling houses get hacked from time to time, but most of them are so secure that they aren’t worth the time it would take to get past the encryptions that are in place. They spend millions of dollars on systems security and employ some of the most highly-qualified online security professionals in the United States to keep breaches at bay.
As more and more people get into online gambling, it is expected that investment in enhanced player protection will increase. If players know that their data is secure, they will keep coming back, so it makes sense that casinos do whatever they can to protect personal data.
While these are the main trends in 2023, several others have also seen a significant rise.
eSports betting is big all over the world, not just in the United States. Many casinos now have sportsbooks and act as bookies, taking wagers and paying winners. This is an industry worth billions and it is expected to grow even more in the coming years.
Virtual reality is also becoming more popular in the gambling industry. In some of the top casinos, players pay for VR sets so that they can get a fully immersive, 3-D experience as they game. It helps bring gambling to real-world settings and certainly makes for a more exciting time at the casino.
Even as establishments strive to keep up with all these trends, they must adhere to regulations. Gambling is now one of the most heavily regulated industries in America, and breaking the rules can result in stiff penalties, including huge fines.
Top casinos hire experienced casino lawyers to help them become compliant, and they do regular audits to make sure that all is functioning according to the law.
Resorts Casino in New Jersey is one such establishment. Every year, the management spends time and money to ensure that it is compliant and meets consumer needs as laid out by the regulators. It is home to some of the best live dealer games in New Jersey, featuring some of the top casino influencers in the country. It also has a vibrant online casino scene, offering players hundreds of games to choose from.
Player protection is of utmost importance at Resorts Casino, and it has implemented the latest in data encryption to keep user information secure. Players are paid promptly using a variety of ways including PayPal and direct deposits into their bank accounts.
The casino is generous with bonuses and prizes and matches new player deposits. Players who need assistance can contact the help center or refer to their responsible gaming policy. Anyone who is 18 years or older can become a member of Resorts Casino, enjoy their myriad offerings, and take advantage of their numerous bonuses and giveaways. The casino also hosts a Game of the Month every 30 days, and players stand a chance to take home impressive winnings by participating in any of the selected games.
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