The Internet Casino Industry: An Industry in its infancy but growing at a steady rate. The data from the National Association for Gaming Business shows that online gaming was introduced on June 2, 2002, making it the second most recent technology.
In 2010, gambling revenues increased from $20.4 billion to $27.1 billion or 4.9 percent annually. The industry’s growth has grown by nearly 10 percent each year for the last decade. With the rise in spending, industry revenues will increase by an average of 4.9 percent annually over the next decade, or a rate of growth of 2.2 percent to reach $46 billion by 2020, the Association reports.
The Internet is not just a gambling business — it is an entertainment industry (or “entertainment” as the industry prefers to refer to itself, and which in this article is used throughout). The gambling industry has an impressive list of titles, including online casinos and casino games, poker, roulette, blackjack, sports and slots, and even card games and video wagering.
One thing is certain about this industry in all its forms, and that is that Internet gaming does not have to be a victim to the same trends in the traditional casino economy.
Take the casino industry for example — casinos are the largest source of funding for traditional casinos.
With the rise of the Internet, and online gaming, traditional casinos are finding ways to survive. With online gaming, and the popularity of video poker, casino players no longer need to go to the casino to gamble. With online gaming, the cost of living is not as high for online players.
That’s why online and mobile gaming continues to grow.