Published on 7/19/2019 6:29:48 AM
For fans of online casino gaming, May was an eye-opening month for a couple of significant reasons.
That’s when two major sets of statistics regarding the industry were released in the public domain, relating specifically to the performance of the US and UK markets in 2018.
The first study was conducted by the major qualitative research firm Statista, and the statistics suggest that the popularity of casinos and slot gaming, specifically online and via mobile devices, continues to grow in the USA.
And the second piece comes directly from the UK Gambling Commission, who oversees the provision of licenses to casinos that wish to operate in the United Kingdom's jurisdiction while upholding standards of fairness and etiquette through regulation. Their research also indicates improved performance during the quoted timeframe.
It's a fairly predictable conclusion, given the prevalence of mobile gaming in these tech-savvy times, but even so the number of people taking to casino gaming on their smartphones and tablets is a real bonus for firms experiencing difficult trading conditions on the high street.
Statista recorded data relating to the online gaming sector in 2017, and then extrapolated those numbers and market signals that have occurred in the past two years to be able to deliver a forecast up until 2024.
And they have found that the revenue recorded in the online gambling market in the US will more than double in the period from 2017 to 2024, which equates to an increase from $45 billion to $94.4 billion.
To help explain the data, Statista confirm that their definition of online gambling includes online casino games, poker and sports betting - the latter of course being legalized in a number of states after a previous legislative ban was lifted.
The extra revenue coming into the market will naturally have a knock-on effect to how competitive the world of online gambling is, and that is to the benefit of players. More casinos opening their doors means that new welcome bonuses and promotions become available, whether that’s bonus codes, free spins on sign up, monthly reloads or some other appetizing offer. Sites that accumulate these bonuses all in one place, so that players can pick and choose which they want to claim, will also experience an increase in traffic, while offering users an overview of each platform and what they can offer besides their free spins deals.
The research released by the UK Gambling Commission goes into even greater detail about how online gamers go about their business.
Their findings break the industry down into subcategories, and the results confirm that slots and other casino games are experiencing a continued surge in popularity.
The remote online gambling sector saw a 2.9% increase in revenue from October 2017 to September 2018 on the previous yearly period, and that's despite the figures showing that the gambling industry overall suffered a marginal decline. Online continues to outperform bricks-and-mortar casinos and betting shops, which is causing some major brands a headache in how they strategize from here.
The ‘remote sector’, which incorporates online casino gaming, online sports betting and online bingo, saw a 1.2% increase in revenue in the time frame outlined above. And of that increase, it is online slots that has played a key role with a gross yield of +1.7%.
All of which suggests that more funds will be invested by casino brands into their online offering, but how they solve the problem of getting more people through their door on the high street remains an equally pressing concern.