Giving a Shape to Growth: Knowing Why iGaming is Popular Helps Master the SpacePublished October 3, 2021 by Lee R
The scope of the growth of iGaming and its drivers are worth examining closer.
We all know iGaming is wildly popular and growing, but there are still some interesting facts about that growth that you probably don't know.
The most important fact is the popularity: at this point an estimated 26% of the world's population loves gambling as an activity, with a total of an estimated 4.2 billion people gambling today.
The Impact of the Online Option
Gambling is a vital recreational activity, with conventional land-based casino renowned for the stimulation they provide, and online play providing a new medium which is more supplemental than competing.
The supplemental components that made online gambling relevant of course revolve primarily around convenience.
Cryptocurrency Payment Systems
Convenience provides possibilities never before seen in the industry—starting with the use of cryptocurrency. As a form of payment, cryptocurrency is rapidly becoming the most coveted form of payment due to the fact that it provides users with anonymity as well as rapid payments and disbursements.
Online gambling has further allowed for larger payouts, with huge wins amounting into the billions, including the rapidly legendary story of a Finnish poker player's unique strike of luck with the Mega Fortune online slot, where with a stake of a mere 25 cents per spin, the Finnish player pulled a $24 million reward, an unheard of payout possible only within an online gambling reward system.
Over Two Decades
Online gambling also provides unique bonuses. The combination of pooled liquidity, increasingly sophisticated and centralised RNGs, and increasing amounts of communities playing or putting into one pot have brought much higher rewards to the online gambling space with relatively similar amounts of investment, or risk.
The technological aspects of online gambling are always improving as well: from loading speed to security to optimized payment systems; it is simply much faster and easier to gamble online.
The rewards of using superior technology for a leisure activity are visible in both engagement with advanced graphic and interfaces, as well as winnings and gratification. Offering safe play online is resultingly one of the most valuable and rewarding businesses in the world.