In the United States, online gaming grossed $1.48 billion in the first quarter of 2023, denoting a 22.7 percent revenue increase from the same time period the previous year, according to the American Gaming Association’s (AGA) 2023 State of the States Report published in May. Not limited to the U.S., the global online gambling market is also being fueled by an increase in the rate of internet usage among other factors.
Online casinos and iGaming popularity aren’t limited to the US, as a matter of fact, the global online gambling market is reportedly expected to reach a mind-blowing USD$144.74 billion by 2028, growing at a rate of 13.70 percent in the forecast period of 2021-2028.
Online Casino Growth
What are some of the other factors that contribute to online casinos around the world becoming increasingly popular in recent years?
In addition to internet usage, smartphone use is also rising and so is the availability of casino gaming platforms, each of which contributes to the expansion of the global gambling industry.
Not too long ago, depending on where in the world you were, if you wanted to experience the flashing lights and arcade sounds of slot machines or the adrenaline rush from a good card game, you’d have to travel to a brick-and-mortar casino and you’d be limited to the hours when they were open. Now all you need is a mobile device or computer to access these games from pretty much anywhere at any time day or night.
Besides the obvious savings of time and money, online casinos offer a wider variety of games, and for most people, an equally entertaining and stimulating experience but from the comfort of their own home. Most of the same games available at physical casinos, such as slots and video poker are available virtually, as are liver dealer games like blackjack, roulette, craps, baccarat and poker.
Unlike other online casino games, live dealer games do not rely on random number generators (RNGs). Instead, players can enjoy real-time games in a highly immersive and authentic casino setting with professional dealers, courtesy of state-of-the-art video streaming and production. And while many land-based casino locations offer discount hotel prices, meal vouchers and other perks, online casinos offer players a variety of potentially lucrative casino bonuses.
Some say an online casino is only as good as the bonuses it offers…
For those of you looking to find good casino bonuses, you’ll find that they often vary by company and that there are so many out there you could easily become frustrated sifting through all of them trying to decide on the one that is best suited for you. Usually, the most common include no deposit bonus, match bonus, reload bonus, cashback and loyalty bonus. It’s important to learn what the bonus type actually is and how it can be maximized.
For instance, when an online casino offers a “no deposit bonus,” it essentially means that when you register for the first time you do not have to make a signup deposit before being eligible for “free money” or “free spins” playing real money games.
More importantly, it is absolutely imperative that you familiarize yourself with an online casino’s terms and conditions (T&Cs). And just as bonus offers can vary by operator, so can the T&Cs, including the wagering requirements. The latter refer to the number of bets that particular online casino requires you to make or the amount of money you must wager in order to be eligible to withdraw any money earned via your use of bonuses. The lower the wagering requirement, the faster you’ll be able to clear the casino bonuses and withdraw any winnings from your account.