What’s New in the Casino Industry?

What’s New in the Casino Industry?

The Casino industry is an ever-evolving beast which seems to change almost weekly. The land based sector is once again stabilising after a turbulent economic period, and online casino & iGaming continues to go from strength to strength with £6.9 billion in online casino related revenue in 2021 alone. This represents a nearly 20% rise in revenues from the previous year.

It may be surprising to know that there has actually been a decrease in the amount of sportsbook & casino operators registered as operating from the UK in recent years, with 5% either closing up shop or moving elsewhere. Suggestions are that this represents an increase in market share for the major brands and has further boosted their profit making capabilities.

If you’d like to check out the newest casino sites available to you today, check out the brand new casino sites 2022 section of John Slots here to make a well informed decision on which is the best one for you.

If we look a bit more closely into the market split between land based and online casino operators, it can be noted that nearly 55% of revenue is generated by the online sector. There are less than 10,000 people employed by online casino brands, significantly less than were employed when land based gambling shops & casinos were at their strongest in the noughties. The fact that there are less staff overheads but more profitability in the UK gambling markets goes some way to explain why online gambling firms are performing so well.

However, it’s not the only driving factor. At the heart of things, is a continuous and healthy increase in the interest amongst the general adult population in using the offers and games available. Search engine queries continue to skyrocket as people seek to fill their free time with the allures that casino and sportsbook operators now have. The prevalence of new gaming platform technology can’t be underestimated as a factor in this. IGaming experience can nowadays be considered to be akin to video gaming, certainly the days of below par graphics and archaic gameplay are over.

One notable advancement technology wise is the banking options available via online casinos. This is twofold, firstly there are more currencies and methods accepted now than ever. This includes the world of cryptocurrency payments and opens the deposit and withdrawals up to people who were perhaps reluctant to connect their personal banking cards and accounts in the past. Furthermore, the speed and ease of banking is now much better than it ever has been. This means withdrawals often within minutes of the request being placed. A common gripe of players in the past is that funds aren’t with them quick enough. This technology development quells those issues and spells one crucial advancement which is “flexibility”.

Whilst the casino and wider iGaming industries continue to innovate, cost save and gather momentum within the marketplace, the popularity seems set to rise steadily as trends have indicated in recent years (huge economic and social anomalies aside). The industry is seemingly worth too much to players and the government (via taxes) for progress to wane.

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.