The Online Gaming Industry: Patterns, Numbers and the Future
The online gaming industry is one that continues to grow, across multiple sectors and various international markets. Take online sports betting in the UK, for example, which peaked at £2 billion in 2013 and is expected to experience further growth in the final financial quarter.
This is one statistical trend from a small segment of the industry of a whole, but there are some developments that transcend individual markets and can be applied to the industry as a whole. These make it easy to forecast future growth and pre-empt the exact direction of the market.
The U.S has represented a breakthrough market for online gambling in the last eighteen months, with states such as New Jersey and Delaware joining Nevada in legalising websites and practices on their territories. More states are set to follow suit in 2015, with California leading the way and driving change nationwide. Many are being encouraged by the lucrative nature of the industry, as during the first week of legalised online gambling in the state of New Jersey individual casinos generated nearly $1 million USD.
By the end of this year, the amount generated each month by online gambling in New Jersey is set to reach a staggering £10 million USD. This is enabling the U.S. to gain ground on its European and British counterparts, where the market is already more advanced and established. This is particularly true in the UK, where the government has started to tax online gambling and will begin to accrue sustainable revenue during the formative part of 2015. Industry leaders in the UK have also strived to create the largest and most diverse market of online casino games anywhere in the world, from themed slots to interactive titles.
From these statistics, several key trends emerge. The first is the popularisation of online gaming in international markets where there has previously been resistance, such as the U.S. and parts of Europe. This has followed from resounding success stories in the UK and Australia, where the industry has been monetised and transformed into a taxable entity. This trend is likely to continue and expand, which means that online gambling will soon be considered as a key source of income in countries throughout the globe.
Another prominent trend lies in the diversity of the market, starting with the range of online games available to gamblers. Online casinos offer a broader array of creative and innovatively themed titles, which creates a more engaging experience and offers considerable choice to players. This will also diversify the typical demographic of online gamers and boost the number of active players, with female gamers already becoming particularly active in the sector.