According to a recent report published by Reports Monitor, Global Online Casino Market is estimated to grow at a significant CAGR over the forecast period.
Online casinos or Internet casinos are virtual casinos or the online versions of traditional casinos. Online casinos, by means of the internet, enable gamblers to play and wager on casino games. This is a prolific form of online gambling.
Online casinos usually offer odds and payback percentages, which are a bit higher than land-based casinos. Some online casinos publish payout percentage audits on their websites in addition to the higher payback percentages for slot machine games. Table games like blackjack have an established house edge, assuming that the online casino is using an appropriately programmed random number generator. Generally, the payout percentage for these games is decided by the rules of the game.
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Online casinos based on their interface are divided into two groups. They are web-based and download-only casinos, but some casinos offer both interfaces.
Online casinos are websites where users may play casino games without downloading the software to their local computer. They are also known as flash casinos. Games are mainly represented in the browser plugins such as Macromedia Flash, Macromedia Shockwave or Java. They require browser support for these plugins. In addition, bandwidth is required as all graphics, sounds, and animations are loaded through the web via the plugin. Through a HTML interface, some online casinos also allow gameplay.
In a virtual casino game, the result of each game is dependent on the data which is produced by a pseudorandom number generator (PRNG). To generate a long stream of numbers which give the impression of true randomness, PRNGs use a set of mathematical instructions known as an algorithm. Properly regulated online casinos are audited externally by independent regulators. It provides a degree of assurance to the player that the games are fair, provided that the player trusts the regulator. The independent regulators ensure that their win percentages are in line with the stated odds.
Many online casinos rent or buy their software from companies like CryptoLogic Inc (now Amaya), International Game Technology, Microgaming, Playtech, Golden Race and Realtime Gaming.
Factors Influencing Market Scenario:
Online casinos are particularly attractive to younger players above 21 years of age. Millennials are opposed to the structure and layout of traditional casino floors. Millennials do not enjoy getting lost inside casinos, and they seek a specific type of gaming experience which is best served through interactive online casinos. So, they are not enthusiastic about the design and layouts of traditional casinos. Millennials perceive slot games to be antisocial and boring.
Millennials is one of the important drivers for Online Casino Market. Low cost operations due to online casinos will boom the market. In addition, any game romanticized by Hollywood celebrities in movies is the key factor fueling the growth of the market. Support by the Government by making it legal is expected to fuel industry demand. However, fraudulent behavior by online casinos is the major restraining factor hampering the growth of Online Casino market.
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Geographies analyzed in this research report include major four regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA). Due to the supporting policies and regulations, European region may dominate the online casino market. In addition, rising internet population and smartphone penetration will add fuel to the growth of online casino market.
The global Online Casino market comprises some of the key players such as Holdings PLC., Betsson AB, GVC Holdings PLC, International Game Technology PLC (IGT), Kindred Group (formerly Unibet Group plc), Ladbrokes Coral Group plc, NetEnt AB (publ), PaddyPower Betfair PLC, Playtech plc, Rank Group plc, Scientific Games Corporation (SG Gaming), The Stars Group Inc. (formerly Amaya Gaming Group) and William Hill PLC Scientific.
• In May 2018, there was an attempt made to legalize online gambling, sports betting, and daily fantasy sports in Illinois. An amendment was presented for Senate Bill 7, to formally legalize and regulate all three forms of gaming. After the US Supreme Court struck down the federal ban, Illinois can now legalize sports betting.
• In May 2018, New Frank & Fred online casino announced that they will be open in several markets, including Finland, Germany, Greece, Malta, Romania and Sweden. Several software providers will be offering content at Frank & Fred, as mentioned. Some of the companies working with the online casino include BetSoft, Iron Dog Studio, NetEnt, and Microgaming. For live dealer gaming, Evolution Gaming, NetEnt Live and Extreme Live Gaming will be providing content. The new online gaming site will offer several payment methods including Visa, MasterCard, Trustly, Neteller and Skrill. The banking methods available to players will be dependent on the area of service.
• In May 2018, figures released by the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) regulatory body showed the country’s seven licensed online gambling operator’s generated combined revenue of €33.8m in the three months ending March 31. The government’s share of this market was roughly one-third of the total amounted to €11.2m. In May 2016, Portugal launched its regulated market and since then has issued five online sports betting licenses, seven online casino licenses, and one online poker permit (The Stars Group’s PokerStars brand).
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Online Casino Market Segmentation
By Game Type:
• Culture-Based Games
• Drug Susceptibility Gaming (DST)
• Mantoux Game (Tuberculin Skin Game)
• Nucleic Acid Gaming
• Radiography (Chest X-Ray)
• Smear Microscopy
• Other Games (Serological Games, IGRA, ADA, etc.)
o North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
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