LAS VEGAS - October 29, 2020 (Investorideas.com Newswire) The online gaming market has grown exponentially since its inception in the 90s. At the time, thearchaic internet technology hindered the widespread access to online games despite having littleto no regulatory frameworks. The high cost of connectivity, lack of game developmentadvancements, and absence of balances and checks also made the industry very precarious.
By the end of the 90s, rudimentary online casino games started hitting the market, andresponsible gaming ethics were set though the security protocols were still lacking. That showsthat the online gaming industry logistics comprise of a wide range of topics like:
Unlike the brick and mortar wholesale and retail SMEs, online gaming platforms like JackpotCity Online Casino don't need to deliver any actual product to customers. In fact, all their activities are virtual simulations of Vegas-style casinos, mimicking personal experiences' authenticity.
According to Forbes, the online gambling market was worth $20 billion in 2010. This number has continued rising higher every year as more regulated markets continue opening up. Additionally, random number generators (RNGs) have helped online casinos to establish an ironclad relationship with their customers to make operations more straightforward.
Most players typically don't accept things they don't understand, but knowing that a casino is tested and audited for randomness, transparency, and fairness greatly benefits the market.
How Huge Is The Online Gaming Industry?
In the 80s and early 90s, the gaming scene was a male-dominated world. However, all that changed thanks to a dramatic technological transformation that has opened the doors to feature people from all spectrums. As a result, women have become a critical component in the online gaming market, with over 40% of gamers in the US being female.
Today, the virtual world is teeming with imaginative ideas that are transformed into incredible realities. Live Dealer casino is one of online gaming's most daring developments, which has become a key driver of growth in the online gaming market. That's because live dealers offer the players an authentic casino experience in real-time at the comfort of their homes/offices.
Thanks to the growth drivers, the online gambling industry is currently worth about $59 billion, and the figure is expected to be close to double in a few years. Industry experts estimate that the market will be worth about $92.9 billion by 2023.
Payment Processing Solutions
For years, online casinos have suffered from the inability to process payments when gaming with real money. However, advancements in technology have facilitated robust solutions to work around the regulatory constraints that legal-age players may be subjected to in some jurisdictions. Payment solutions helping with this logistical problem include cryptocurrency, e-wallets, and other secure banking options.
Overall, the online casino boom is benefiting many people and organizations. That includes bloggers, affiliate websites, online casino players, game creators and developers, online casinos, and payment processing solutions. That shows that the entertainment industry needs to have a wider variety of adult-level games.
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