July 5, 2024 (Investorideas.com Newswire) The incredible growth of digital technology has played a major role in the increasing success of a lot of entertainment industries. One market that has benefited greatly from the developments in digital tech is the iGaming market. In this article, we are going to explore whether iGaming is the next big thing in entertainment.
What is iGaming?
The first thing we have to ask is what is iGaming? Many will say that iGaming is just another word for online casinos. However, that is not quite the whole truth. iGaming is a catch-all term that encompasses any and all forms of online gambling and betting. Meaning, online casinos, sportsbooks, poker, and even bingo fall under its umbrella.
Though iGaming started in the 1990s, it wasn't until the 2010s that it truly took off. It was around this time that many countries saw the potential in a regulated online gambling industry. Even recently, some countries are hopping on the bandwagon. For example, the industry surrounding casino online Canada games is relatively new.
The Success of Online Gambling Worldwide
The online gambling industry is a global success. Of course, the success of the market depends greatly on the country. After all, some countries haven't legalized online casinos at all. However, if we just look at the market from a global perspective, we will see a clear improvement in the past decade or so. So, let us take a look at a few impressive statistics that are worth keeping in mind.
Will iGaming Supplant Land-based Gambling?
It is difficult to say whether iGaming will supplant the land-based gambling industry. As things stand right now, land-based casinos are still making a lot more money, especially in gambling hubs like Macau, Monte Carlo, and Las Vegas. However, as more and more countries are discovering that online casinos can be regulated and safe, there are more laws being passed legalizing the market worldwide.
Not only that, but better tech is making online casino games a lot more interesting. While it is unlikely that iGaming will surpass land-based casinos in the near future, there may come a time, ten or twenty years from now, that online casinos become a lot more profitable than their land-based counterparts.
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