An interesting trend is these years flooding the casino and gambling industry. More and more of the gambling money are these days spent on online casinos instead of the classical physical casinos and this is a trend we are going to see more of in the future. Europe is experiencing a boom in its gambling industries in the country where gambling and money betting is legal, and in this article, we have found a couple of reasons why that is the case. It is not only in Europe where the online gambling industry is booming.
Actually, everywhere on the globe are the casino and betting companies experiencing growth. With online casino India, the people have become more connected to the industry and casinos are now an easier accessible source of entertainment than they used to be. In this article, we give you three reasons why new casinos are booming in Europe and in the rest of the world.
Booming markets and many casinos
First things first. The market for gambling and online casinos in Europe is gigantic. It is a billion-dollar industry that every year attracts millions of customers. The online gambling alone industry grew 11 % in Europe last year according to EGBA – Europe’s Gambling and Betting Association. This is due to an increasing purchasing power in most European countries, especially Germany and the Scandinavians have shown an increasing interest in the online casino. The last couple of years have brought GDP growth to the majority of the countries on the European continent and before March 2020, a lot of countries set an all-time high record when it came to employment rates.
Therefore, a lot of consumers had extra money to spend, which was favorable for the gambling and casino industry. As mentioned earlier, Scandinavian countries in particular have been heavy users of the only casinos with Denmark and Sweden seeing an increase of various casinos and betting companies entering their domestic markets. The advertisement for the gambling industry in these countries also set an all-time high record in 2020. In Denmark TV-commercials with casino and betting products saw an increase of 350 % from 2012 to 2020. The booming market is therefore a reason why there are more casinos in Europe.
Mobile technology and the availability – anytime and anywhere
However, there is also a technological aspect to the increase of casinos in Europe. With the technological revolutions throughout the past two decades and especially smartphone technology, casinos are now always close to their customers. Nowadays everyone with a modern smartphone and access to the internet can go online and gamble wherever they are, whenever they want. The previous barriers with going to the physical casinos have now been completely erased and therefore casinos are open 24 hours a day, 365 days a year – it literally never closes. This means that consumers and casinos are always connected and whenever customers want to gamble money, they are able to.
Furthermore, with the rise of social media, the casinos can always target their desired customer segments whenever they want. Most people who like to gamble are on at least one of the social media platforms that are popular today, which gives casinos the ability to target their potential customers everywhere and anywhere, as long as they are online – and online they are. According to some studies, the average young European spends more than three hours on social media every single day. That is another reason why it keeps booming with new casinos entering the market in Europe.
From a business to a source of entertainment
Casino and betting companies are a very profitable business to be in if you are among the market leaders. However, in the past couple of years, the entire casino industry has moved towards a more entertainment-centered strategy rather than just being a place where people can gamble their money. Casinos and betting companies are now also a source of entertainment for a lot of people. It is easy for the customers to grab their tablet, laptop, or smartphone and enter the world of casinos. With the introduction of technology and mobile casinos, the monetary entry barrier has also been lowered.
This means that consumers nowadays can spend hours with slot machines, blackjack tables, etc. without having to spend a lot of money. A couple of euros are sufficient in order to keep themselves busy for hours. Thus, the gambling industry is no more just a hardcore “win or lose” industry, but also a place to escape from reality and have fun for a period of time. The third reason why the casino industry booms in Europe is because of the demand for entertainment – and the industry has been able to deliver that through poker tournaments, blackjack tables, and a universe of slot machines.