There has been a steady growth in the number of online betting sites globally over the last twenty years. Everyone knows that’s there are huge profits to be made by operating a casino. However the Internet has made it possible to start an online casino site for roughly one million dollars. Compare that to the hundred of millions (or billions) of dollars required to build a real world land based casino and starting an Internet casino is an affordable endeavor for anyone interested in running their own gambling business. This made it possible for thousands of online casinos to be created and many of them are earning massive profits. Once a casino is earning positive cash flows they generally build another new online casino for players to gamble at. This cycle continues to fuel the growth of the expanding online gambling market.
Payment options and Bitcoin/cryptocurrency
Another reason why Internet casinos, poker rooms and sportsbooks have seen such tremendous growth is an increase in the number of payment options that gamblers have when making payments to an online betting site. In the years past making payments to online casinos was often difficult and sometimes impossible for players so that really hurt the industry hard. However, as it is with all new improvements in technology, the Internet gambling industry innovated new payment methods and e-wallets like Neteller, Moneybookers and Skrill which made it easier for players to sent payments to and from casinos, online poker and sports betting sites.
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Bitcoin and cryptocurrencies have also helped the growth of online gambling websites. People love the privacy, security and low transaction fees that Bitcoin and other cryptocurrency payment options provide them with. Online sports betting sites and Internet casinos have started to accept Bitcoin payments as a convenience to their players. Both sides are responding well and it seems that more online gaming sites are adapting and allowing crypto payment options.
Improved software providers
Online casino software providers have significantly improved their software platforms and now provide thousands of realistic games to the web’s most popular casinos. There are now more than 30 different major providers of real money games that you’ll find on the web. A couple of the most popular software companies are NetEnt and Microgaming. Combined these two platforms alone offer thousands of real money online casino games powering the largest casinos on the Net. Other gaming software providers like Aristocrat, IGT and Bally have been developing games for land based casinos for decades and now also develop online games for the web’s biggest casino brands. Playtech, Realtime Gaming, QucikSpin, BetSoft, iSoftBet, SoftSwiss, Amatic, Saucify and Rival Gaming are just a few of the additional software providers that are driving the growth of online betting websites.
Trusted online gaming regulation boards
In 2019 there are many trusted online gambling regulation boards and i-gaming commissions that regulate betting sites operating on the web. In the United States there are several states currently regulating Internet gambling. New Jersey was the first state in the USA to regulate i-gaming in 2013. The New Jersey Division of Gaming Enforcement is the regulating body for all online betting in the state of NJ. In Nevada they regulating agency overseeing online gaming sites is the Nevada Gaming Control Board. Recently Pennsylvania passed legislation to allow online gambling to people in their state. In PA the Pennsylvania Gaming Control Board is in charge of regulating all Internet betting sites operating taking place within the state.
In the United Kingdom players are protected by the strict regulations enforced by the UK Gambling Commission. The UK was the first country the legalize and regulate Internet gambling on a national level after passing the Gambling Act in 2005. The UKGC was formed in 2007 and is responsible for regulating and online betting taking place in the UK.
Increased brand awareness
Thousands of gambling guides and trusted online casino review resources have helped improve the brand awareness casinos all over the world. Whether their brand is reflected in a positive or negative light depends on how the gaming operator is running their casino business. The best and most notable brands are all providers of fair online gambling games and players are now aware of which brands they can trust and which brands they should avoid. Websites like GambleRock and TrustPilot allow people to share personal reviews and gamblers can look to these communities for honest reviews from real people. This gives online gamblers confidence they are getting a fair chance and has helped the growth of the industry to reach new heights every year.
Quality customer service
These days the quality of customer service that you’ll receive at Internet betting websites is exceptional. The biggest brands all offer 24/7 live chat support representatives that are able to help with anything you might need in just minutes. Many online casinos and sports betting sites also offer 24 hour free telephone support teams as well. This has helped improve customer relationships and increase brand loyalty which brings players back to their favorite casinos time and again. Gamblers are advised to only gamble with licensed websites offering 24/7 live chat customer support.