Rise of Online Gambling and Reasons to Enter the Booming Industry
Online gambling has always been quite a lucrative business opportunity, but even more so today than ever before. The industry is increasing rapidly and is looking to grow exponentially in the coming years as more people switch to online modes of entertainment and gambling opportunities.
The Coronavirus has a huge effect on the entire gambling industry. Land casinos are starting to close, shutting home games because of restrictions and social distancing rules. While some casino resorts are still open, it’s not surprising that they also experienced a significant drop in visitors and revenue in the past year. The gambling industry is one of the hard-hit sectors of the Covid-19.
Online Betting Platforms Surged in Popularity
As the traditional brick-and-mortar casinos felt the pain due to the pandemic, the online gambling industry has seen a major boost following the pandemic and the lockdown. Frequent casino visitors now flock to gambling websites and online casinos looking for an exciting casino experience. People who are stuck at their homes with nothing else to do are also looking towards online casino slots and games for entertainment, further boosting the industry.
According to statistics, around 70% of the total betting revenue in the past year come from mobile casinos alone. Mobile gambling could be the biggest online gaming trend in 2021.
As traditional gambling dropped in revenue, online gambling picks up the slack. In 2019, the worldwide online gambling revenue was $58.96 billion. However, when 2020 ended, it reached an impressive $66.67 billion. Industry experts expect the global online gambling industry to grow this year exponentially and might even reach a massive $1 trillion value by the end of 2021.
In the US, New Jersey is currently the largest regulated online gambling market. Figures from the NJ Division of Gaming Enforcement (NJDGE) show a $346.4 million total gaming revenue in January 2021, 10.7% more than the figures from December 2020 and 15.3% higher in January last year. In online casino and revenue, NJ recorded a $103.8 million monthly total, 88.4% higher from its $55.1 million posted last year.
These figures show the surge and continuous growth you can expect from the online gaming industry, especially compared to the 16.6% decline in the land-based casino revenue in January 2021 compared to the same month last year.
NJ’s biggest online casino firm, the Golden Nugget Online Gaming Inc., reported around a 63% surge in its total revenue last year. Its total $55.4 million profit in 2019 jumped exponentially to around $90 to $91 million in 2020. GDOG started 2021 on a promising note with a recorded $31.2 million revenue in the first month.
Reasons to Launch an Online Casino Business
This year, online gambling can only grow and get better, especially for entrepreneurs. The pandemic season opened a lifeline for online gaming sites, both the established and new ones. The gambling industry is a tough market, but it has immense opportunity to profit now more than ever.
Here are some reasons why the online gaming industry would make a worthy venture:
- The online gambling industry is a lucrative space, especially with the recent surge of gamblers going online. The gambling revenue boosted in the past year, and it will only grow further.
- The rise in popularity of online gambling allowed more states to legalize online casinos. It opens opportunities for players and entrepreneurs alike, a plus if you want to start an online casino business.
- Launching an online casino is far easier and quicker than you think. You don’t have to be an expert in coding to set up a casino website. You can even have a fully functioning casino site within minutes ad without too much hassle with EthRoll.
Launching Your Online Casino with EthRoll
Launching your first-ever online casino is more convenient than ever. You can take advantage of the booming online gambling industry to start a business venture with EthRoll’s casino builder platform.
Gone are the days that you have to spend a fortune to set up an online casino business. EthRoll offers a quick, seamless, and cheap solution to start your casino business today.
- No more applying and waiting for your gaming license, which could take months to even a year to arrive. Setting up your online gambling website with EthRoll means you get covered with its gaming license automatically.
- Get an inexpensive casino building platform. The biggest expense with creating an online casino is leasing or buying software, which could go for several tens of thousands of dollars monthly and a cut to your monthly earnings. With EthRoll, you can get an inexpensive platform without compromising the software’s quality.
- You don’t have to know coding to build your casino site with EthRoll. The platform has several templates you can use to simplify and speed up the process. Setting up your online gambling site is as easy as the drag-and-drop method to customize your casino.
If you are looking to enter the growing online casino market, the EthRoll solution will be completely fit for you. It’s the most convenient and easiest way to set up an online gambling business.
Alt Tags: online casino, online casino business, online casino platform, online gambling business, online gambling surges
Reference(s):
https://www.gammastack.com/6-reasons-to-launch-an-online-gambling-business-in-2021-2022/
https://www.mondaq.com/gaming/987292/updates-on-the-effects-of-coronavirus-on-the-gambling-industry
https://igamingbusiness.com/nj-smashes-sports-betting-and-igaming-revenue-records-in-january/
https://www.igbnorthamerica.com/nj-smashes-sports-betting-and-igaming-revenue-records-in-january/
https://worldfinancialreview.com/what-2021-is-likely-to-bring-for-online-gaming-and-casinos/
https://www.bettingusa.com/h2-analysts-online-gambling-2020/
