It’s happening! The physical casino business is on a decline, what’s to blame?, Betting policies? Gamblers? NO! The internet? OH YES! Over recent years, everyone has shifted to the internet business, betting agencies and the so called gamblers have taken to the internet. In the recent past, we have experienced an increase in online betting agencies and online gamblers, it’s the new world order!
The online gaming industry is increasingly encroaching into markets around the world, altering the model of the gaming industry as many users shift to the Internet to bet on sports, gamble on slots or play cards. In spite of latent political and legislative restrictions, the market, which already makes more than US$20 billion in universal revenue, may be ready to grow further as new geographic regions open up and many governments become more receptive to online gaming.
The online gaming market comprises of a number of different game types, each with its own business models and technology. They include:
• Sports betting: Betting on sporting events such as games, horse races, dog races, etc.
• Online poker: Like land-based (or traditional) poker, the provider often takes a commission from wagers, and may be less risky than other casino games.
• Casino games: Games of chance such as slot machines or roulette that operate the same as in a traditional casino.
• Online bingo: A web-based version of the ages-old game.
• Online lottery: Online versions of frequently government-sponsored lotteries.
With access to the internet steadily growing in every continent, and high availability of internet devices, online gambling has just got easier. Consumers just using their mobile phones easily get online, acquire gaming apps and place their bets.
Taking Kenya as an example, Kenya is one country where online gambling is catching on in a big way, and now has its first licensed online casinos. Online betting agencies have flooded the Kenyan market, examples being; Sportpesa.co.ke, Elitebet Kenya, Betin.co.ke, Betway.co.ke, Mcheza.co.ke, Livebet.co.ke, Bet365 kenya, BetYetu.co.ke, Justbet.co.ke, Lucky2U.co.ke, Royalkenya.co.ke, Gobet.co.ke and many more! Kenyans, young and old, male and female have indulged in this enticing and growing business, and more are enrolling each and every day.
Online gaming has brought about a couple of changes, ranging from social, economic, to political. People have resulted to forming online gaming communities through social media tools such as facebook and whatsapp where they discuss about whatever they are betting on or against. Economically, the gambling business has inclined, with the continued emerging of gambling agencies and massive enrollment of gamblers, more money is exchanging hands and this is having a major effect on the global economy. Politically, governments are netting more revenue!
As the popularity of gambling endures, the online gaming market is undoubtedly an attractive area of development for software designers, casinos and other land-based gambling operators, related suppliers, and industry newcomers and investors alike. Even despite the erratic political and legislative hurdles and barriers in many countries, online gaming seems to have strongly held onto some markets such as Europe that venture into this segment may have less risk than it appears. Coupled with the massive potential of the industry—in the event that major markets permit online gambling and supporting activities—it is not astonishing to see that the online section of the gambling industry is by far one of its fastest growing divisions and piquing the interest of the industry’s major players.