- Posted July 23, 2014 by
L W, Florida
This iReport is part of an assignment:
What is behind the rise and rise of the online gaming phenomenon?
The world of online gaming is an activity now followed and enjoyed by consumers on a regular basis. More and more players are choosing to vote with their feet (or the tips of their fingers) by making a lifestyle choice to spend their valuable free time and hard-earned cash in both a gratifying and potentially profitable leisure pursuit.
What is driving the success of virtual gambling?
The first key industry driver is the exponential growth in the use of the home PC and then the explosion in popularity of smartphones and mobile devices around the world. Furhter increasing consumer access to ever more sophisticated casino software applications, such as those developed by leading providers like Playtech, have brought the once esoteric world of land based casinos right in to people’s homes and pockets. In short, the right product had met the right market at the right time!
The second is consumer choice. The number of casino games that an internet provider of casino games can offer is virtually limitless. As well as the betting house standards such as Blackjack, Poker and European and American Roulette, the biggest and best operators like William Hill online casino can present amazing computer graphics with innovative spins on traditional products like 3D Roulette and Marvel slots.
The third reason is good old-fashioned supply and demand. Because of the ever-increasing pool of punters, ever more companies are trying to meet this demand. The congested recreational area has meant the online gaming industry is ferociously competitive. Such rivalry has encouraged betting companies to offer larger bonuses and repeated promotions with the purpose of attracting those wavering customers.
Finally, new style virtual gaming channels transcend the economic and physical barriers that prohibited ordinary people from using bricks and mortar betting houses. Due to virtual gambling, increasing numbers of customers have been empowered to experience the pleasures to be had from playing casino games like poker and baccarat in their own homes. Start-up players can now indulge; at whatever time they choose, anyplace they decide on and with whichever game they feel like playing.
The future looks bright for online betting platforms
Several years ago people might have thought twice about walking in to a high street bookmaker to place a bet. The recent World Cup in Brazil this summer, however, demonstrated the world wide appeal of such major sports events to all ages and genders. It also showed that sports’ betting has become a socially acceptable pastime.
This has been heightened by the proliferation of sports betting by mobile phone. The enhanced wagering options have made casual sports betting incredibly convenient and a lot more comfortable. Sports’ betting is increasingly becoming part of a lifestyle preference rather than an undertaking in itself.
The transformation in behavioural patterns is illustrated by a leap in revenues at the biggest UK high street and online bookmaker William Hill. At the end of last year, it reported that its mobile Sportsbook had enjoyed a staggering 115 per cent increase in betting activity, while its net income from handset betting actions had increased by 126 per cent. By the same token Paddy Power announced that 47 per cent of its online income was raised from its mobile platform and that almost two-thirds of its clients’ transactions came from via handset devices.
The mobile gambler
The conclusion to draw from all this is that while technology is a major influence in the rise of the online gaming industry, a more significant factor at play is a change in cultural and normative values of consumers who feel more comfortable to gamble within the flexible structure that the virtual betting market provides.
- Tech and science