When online gambling operators experienced the sixth month of consecutive growth in November, many owners of physical casino establishments became slightly scared for their investment. But, while live online casino services will impact Las Vegas, that might not be as permanent as some might think.
Namely, the nature of free business is that it is adaptable. This is exactly why live casinos were invented. This means that brick and mortar casinos will also need to adapt if they want to stay competitive.
Currently, there are three major benefits of live online casinos over terrestrial ones:
- Vastly superior accessibility
- Lower costs and better RTP
- A wider array of options
Additionally, while the nature of the service in Las Vegas casinos is not the same as with online, there are enough similarities for the latter to have many of the same customers.
On the other side, we might be observing this issue as the ‘’missing tiles’’ syndrome. Users of live online casinos might not ever enter a Las Vegas establishment and would never spend their money there. While the markets are similar, they are not the same.
Finally, there is an analogy between online and offline casinos in the way of movies and theater. There might be a place for both if the older is willing to adapt.
The 2020 Calamity
From an investor standpoint, it would be wrong to look at the dichotomy between online and offline casinos through the prism of 2020. The year was, in all senses of the word, a calamity.
Physical locations were closed and people were under a strict lockdown globally. This didn’t only prevent Las Vegas casinos from accepting guests but also pushed many of the online services to grow exponentially.
And, while the impact will reduce significantly in 2021 with the introduction of a vaccine, this is forcing Las Vegas casinos to plan a contingency for their business and for the big Nevada cash-cow that was sustained for the last 60 years.
Global Reach of Live Online Casinos
Online gambling has existed for almost two decades now. As soon as people started getting widespread access to the internet someone popped in to fill that niche.
But, the live casino service of today is more than just regular gambling games. This is a full and personal service that offers real interaction and a facsimile to what you would experience in a physical casino.
And, because the games can have much lower stakes than brick and mortar establishments, there is a focus on chatting and entertainment. In many ways, these are chat rooms where you can gamble, which is exciting for a lot of people all over the world.
Finally, this global reach is the main advantage of online gambling. You can be stuck in the middle of nowhere and still have a good time with like-minded people on the other side of the planet.
Nevada’s Turn to Service Markets
While actual factors in the field are far too numerous and close to calculate correctly, there is a visible trend that Nevada will need to turn to auxiliary services over simple casinos. Thankfully, this was already on the way for a couple of years now.
Offering hospitality and relaxation as well as the thrill of gambling will possibly be the new big thing for Las Vegas, as well as focusing on a wealthier clientele.
Additionally, there is a possibility that many of the Las Vegas casinos will become online operators themselves, as they already have much of the infrastructure to make their service go live online.
Depending on how flexible the investors and owners are, we can see a synergy of Las Vegas with the internet to make something better entirely. But, if there is a pushback against the whole world, the brick and mortar casino will not have a good time.