We are entering a world where physically going to the casino is a thing of the past. The new era involves online games, online learning, online voting, among other things. It’s no different for casinos.
However, change is coming fast and people want to play the same casino games anywhere, everywhere. So they turn to mobile casino games, which are perhaps more fun and convenient.
With cell phones, even in the most remote areas, you can still play. Probably even when traveling from place to place, you can still enjoy your favorite mobile casino games.
We will see why the mobile casino gaming industry is growing so rapidly. Also, how big is it, factors contributing to growth, among many other angles.
How big is the industry?
More than two billion people currently use smartphones. Most of them belong to the younger generation, most of whom are between 15 and 35 years old. These are the people born when smartphones were introduced or were already in full use like now. They don’t know of any other way to communicate than via smartphones.
This means that most if not all of their business is undertaken using a smartphone. The other generation or age group over 35 has also had to adapt. Not everyone plays mobile casino games and not all smartphone users are adults.
Taking this into account, it eliminates a large number of people but still leaves a large number. Whether it’s Android or iOS, these companies record billions of phones sold every year. If even half the game is a very important number.
The market value of mobile casino games
There is no hard figure when it comes to the value of the mobile casino gaming industry. Estimates are sometimes lower than normal, but they still offer insight into the true market value.
According to several reports recently, the current market value is $71 billion and continues to rise. This value could buy many different industries right now and still leave enough to feed several countries.
As if that weren’t surprising enough, the same reports claim that the value will only go up. And not just one or two billion dollars. In the next few years, maybe five or six, the value should double.
It is estimated at around $153 billion in five years. China and the United States are the top countries for mobile gaming revenue as a whole.
Reasons why the mobile casino gaming industry continues to grow
The industry didn’t just come out of nowhere. Some key factors have played a role in its growth and success.
Playing from your cell phone is cheap on many accounts. First of all, it avoids the hustle and bustle of transport, whether private or public. It also allows a player
to assess their finances and enjoy the game at the same time. It is also very simple.
However, these are the minor reasons. The main reason why mobile games are considered cheap is that almost anyone can afford a smartphone. This is especially true for those who gamble, i.e. they have sorted out their primary needs and have a surplus.
Convenience is a big part of why this industry has grown. In this generation, people like to multitask and make the most of any situation. For example, if a young CEO returns from a long, tedious meeting, he will want to relax. A perfect way to do this, even from the comfort of their home, is through mobile gaming.
Whether it’s a casino game or a bet, they can do it without breaking a sweat. This encourages even the better-off to spend more, helping the industry grow.
To a large audience
This is pretty much the reason why the net worth of the mobile gaming industry stands at $71 billion and continues to grow. More and more people have smartphones and lots of free time, especially given the recent global crisis, Covid-19. People have learned to spend their free time appropriately, benefiting businesses such as mobile casino gaming companies. Moreover, the majority of the players are young people, who always flock to each other.
Introduction to Cryptography
Cryptocurrency is the most talked about trend right now. This has influenced many industries, especially those dealing with gambling and investments. The majority of people buy cryptos and just look for ways to spend them.
Mobile casino games have introduced banking methods that allow users to pay in crypto. The activity has not been the same since, as the statistics suggest.
Mobiles are simply secure. With the use of VPNs, users are sure that anything they don’t want to know will stay that way. Financial security has also played an important role as mobile banking is fast and secure.
As it stands, gambling as an industry has transformed with the introduction of online casinos, using cryptography among other things. Further developments are currently underway which will elevate the industry to other levels. These developments encourage the younger generation, which is the majority, to continue playing and playing with mobiles. A good example is the introduction of virtual reality in mobile casinos. Virtual reality allows gamers miles away to connect and feel all together in one place.
This increases the level of intensity and competitiveness of games, which helps to further develop the industry. Apart from virtual reality, apps are also gaining popularity.
Combining all the games offered at the casino and putting them together in a single app has helped elevate the industry. Indeed, online sites can sometimes be late or
take the time to process actions like payments. The apps bring it all together so that with just one click money can be transferred to your account from the casino.
As things stand, mobile casino games are one of the most dominant industries. Reports and statistics show that this is unlikely to change anytime soon. Investing in such a sector is the best possible idea.