Online Casino Industry
Much has been written about the online casino industry. When you consider the fact that it is a fairly new online genre, with the first casino launched 15 years ago; it seems inconceivable that today it is a multi-billion dollar industry with more than 20 million players recorded.
Online Casino Success StoryThere are many reasons why the online casino industry has become so successful. Let’s look at the obvious reasons first. For most online players, the ability to play at home, any time of day, is a big factor. Unlike playing at land-based casinos, there are no flights to book, no room reservations to make; no buses to take for a 5-hour stay at a local casino. Playing online affords players the ability to flash play , that is, using the online casino’s instant play feature; or play casino games using mobile devices . Moreover, online casinos offer some of the largest welcome bonuses in history, further evidence that online players have more choices and more opportunities to receive a variety of promotions and bonuses when they join online casinos. For players who prefer not to visit land-based casinos, the online casino industry has provided an excellent alternative and one that can be both lucrative and rewarding as well.
Casino GamesAnother reason why the online casino industry has exploded in terms of the number of online casinos available today is the casino games. Regardless of whether you are a slots enthusiast, poker player, Bingo or Keno player; online casinos cater to every genre and offer a variety of variations to make your gaming experience an exciting one. Moreover, the payout percentages at online casinos far outweigh the payouts you may receive at land-based casinos. So too, for the average casino player, the ability to have any casino game available to you at any time is worth its weight in gold. No standing around waiting for someone to finish playing your “favorite” slot machine at a land-based casino; no more waiting around for someone to leave the $5 blackjack table; in fact, no waiting at all. The online casino world is your oyster, so to speak, and any game you want to play is yours to play whenever you like.
Casino TechnologyIn a recent interview, a search engine giant predicted that PCs will become extinct; that mobile devices will be the wave of the future and that all communication, online gaming, and everything in between will be utilized through mobile devices. It is not so extraordinary in that today, as we speak; mobile devices are indeed replacing PCs in many areas. Imagine, then, if one day all online casinos made their software available to mobile devices? The impact would be enormous! Even now, the online casino industry has engaged players around the world, making it a global venture and one that is still growing.
Legalization of Online GamblingThe only question that remains is if the legalization of online gambling will be realized. In May of last year, Congressman Barney Frank introduced a bill to repeal the current UIGEA Law in the United States. He also proposed that implementation of the UIGEA Law be delayed until December 1, 2010. In the meantime, Congressman Frank has written new legislation that would repeal the current law and legalize online casino gambling. Although the UIGEA law has not been implemented as yet due to its ambiguity, there is still hope that it can be delayed long enough until the new legislation goes to a vote.
Online Casino Gambling for US PlayersNeedless to say, many US players are unable to fund their casino accounts due to the commercial banks’ denial of processing such deposits specifically as it pertains to credit card use. In fact, just recently, some Savings and Loan banks in New York followed suit by releasing this Unlawful Internet Gambling Notice that states: “Restricted transactions generally include, but are not limited to, those in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful Internet gambling.” In effect, account terms and conditions would be amended by said banks for players who engaged in online casino gambling. Does this mean that all US states are restricting online gambling? No, but many states as well as countries are trying to implement the same type of restriction.
The Future of the Online Casino IndustryAll indications are that the online casino industry has not yet reached its peak, thus the possibilities of its future are endless. Regardless of the restrictions placed on US players and players throughout the world, the online casino industry is here to stay and the demand for it is growing daily. With the economy still in a slump, many governments are re-visiting online casino gambling as a means to generate new revenue. Barney Frank’s bill will do just that, if passed. As long as there are players who want to gamble online in a safe and secure environment, the number of online casinos will continue to emerge. Supply is meeting the demand, and we may see a shift in global attitudes as the revenue share also increases. The online casino industry does have a future and, once it is embraced by all, it will have a positive affect on the world’s economy.
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