Online and Mobile Betting Penetrating U.S. Casino Gambling
Online gambling is a huge enterprise, and now brings in revenues that challenge more traditional gaming casinos. The online gaming industry has grown by 400% in the last 10 years, making it not only a good investment, but a part of the gaming industry that can’t be ignored. That is only expected to increase as growth rates in the online gaming industry continue to rise.
Countries such as Macau, with a huge online gaming presence, have even surprised Wall Street with the consistent online gambling income. In just one year, from 2013-2014 their revenue increased by 20% for a total of $45 billion. Compare that to the $6.5 billion of Los Vegas’ famed casinos, and the idea that online gambling has come into its own is now simply a fact.
Glory Win Entertainment Group, one of the world’s leading online gambling casinos has reported a 4% month increase from 2014 to 2015. They expect revenue to increase by 5-6% this year. They’re also adding games, seeking partnerships with land casinos, and developing mobile applications to be released in the last quarter of 2015. Glory Win follows Macau’s All Jackpots Casino, and UK based Gambling Metropolis in offering mobile gambling. Mobile gambling is expected to generate a total of $11.4 billion in the gambling industry this year. It is also expected to penetrate a sizable portion of overall land casino income. Mobile betting is predicted to exceed $100 billion by 2018.
While many online gambling sites are wildly successful, some of the U.S. based land casinos haven’t shown the same profits as with online betting. New Jersey is one of only a handful of states where online betting is legal, but those operating online gambling must be approved by the state. They must already be operating a land casino and have the proper licensing, so at present the only operators approved for online betting are the Atlantic City casinos.
New Jersey online betting has only been legal since the end of 2013, which meant casinos entered online games at a disadvantage to well established sites. Though New Jersey online betting total revenue was well below New Jersey’s Gambling Compliance estimations it did generate $123 million. Some point to this as simply a decline in land casinos ability to compete with unregulated betting sites, such as the Macau sites, who have penetrated a large portion of gambling industry market share.
And while there may be other factors involved in lower than expected online betting revenues for Atlantic City casinos, such as New Jersey’s struggling economy, those pointing to already established online betting markets, as well as the convenience of mobile applications, may have a valid point. This is especially true when considering over 51% of the world’s population are now involved with gambling, reports Research and Markets.
For instance, All Jackpots Casino, licensed by the Lotteries and Gaming Authority of Malta, recently paid out one of the biggest winnings to date at $303,360. It markets its mobile application Thunderstruck, an online slots game, with exciting graphics and free bonus spins, as a game that actually allows players to win. The game brings the Norse legend of Thor to life, and has been a popular online game for nearly a decade.
All Jackpots Casino is operated by one of Malta’s casinos, with Malta considered one of the biggest online gaming industries in Europe. Its spectacular Malta casinos are also attracting visitors from across the globe. Its’ casinos, offering visitors over 400 gambling rooms in one casino, and hundreds of slot machines has become a desired tourist destination.
Along with European markets, Macau not only has a strong online presence, but is one of the premier gambling sites in the world. It is the Asian version of the U.S. Los Vegas Strip. Revenue numbers speak for themselves in regard to Macau’s ability to compete not only online, but also attract tourists to its land casinos. Last year marked the first time U.S. total gambling revenue fell behind with Macau earnings. Macau’s 35 casinos made $38 billion, while 12,000 U.S. casinos made $37.3 billion. This trend is expected to continue, with online and mobile gaming having transformed the landscape of gambling.