Online Gambling Market to Reach $100 Billion by 2017
Gaming businesses and the governments that support them are set to make billions in revenue during the next few years. From scratch cards, adventure games, timeless card games, and online casinos, internet gaming continues to grow. This incredibly lucrative industry relies on several other factors: tourism industries, consumer economics, government regulations, and tax laws.
Take a look at the numbers. Monthly revenues of US state gambling are frequently posted at the Center for Gaming Research, which is maintained by the University of Las Vegas. Business owners can examine a breakdown of different casino statistics to see how the gambling business is growing and observe successful trends for online gaming. In China alone, online gaming revenue through website and mobile apps is projected to hit $11 billion by 2013.
These astonishing figures are due to increased accessibility and ease in online gambling. This technological revolution in the gaming world has brought classic slots and card games to break rooms, pockets, long commutes, and waits in line. As more gaming companies invest in web and app developers to transform the playing experience, there is no negative cash flow.
For businesses looking to incorporate gaming, they must do extensive research into their country and state jurisdictions and tax regulations. Many countries tax gaming revenue heavily, which can aid the residents of an area with many government-funded benefits. These taxes can increase a community’s support of local gaming establishments. Legitimate gambling institutions often need a license to operate in their area. To distribute winnings, online gaming businesses often partner with reputable payment services such as Bitcoin and Neteller.
Gambling revenue in mobile apps often come from “freemium games” which are free to download, install, and play. Players can then purchase in-app upgrade to unlock features, move to new levels, and add to the fun. Virtual currencies are a popular in-app purchase, allowing players to customize their gaming experience. Expansion packs to online games can cultivate a fan base, leading to return gamers and reliable revenue streams.
Platform availability is another major factor in booming online gaming revenues. Gaming business will often employ developers to ensure mobile games are available across multiple desktop and mobile platforms, such as Mac OS X, Windows, Android, iOS, and more. Web browsers are rigorously tested to make sure glitches don’t hamper player experience. Game testers can be used to make user interface improvements, increasing the likelihood of gamers returning to an online game for more.
Online gambling communities are the lifeblood of virtual gambling. Different gaming business can get in touch with their players via interactive forums and key into what gamers find entertaining. Businesses looking to grow and succeed in online gaming need to consider trends of addictively fun apps and web gambling. Check out free gambling resource sites for news updates and examine mobile casinos online to understand this exciting industry.
Keeping repeat gamers, making online gambling accessible, developing communities are all great ways to contribute to the profitability of internet gaming. Businesses need to keep in touch with industry standards, offer legitimate forms of winning payment, and adhere to laws within the jurisdiction to be successful.