How Technology Has Made a Multi-Billion Dollar Gambling Revolution
The online gambling industry has a deep-rooted history. This grew into a multi-billion dollar industry over a few short years. With the coming of the technological revolution, both legal and illicit gambling enterprises have taken advantage of the opportunity to cash in. With the right technology, knowledge of the laws, and technical resources, it wasn’t difficult to build somewhat of an empire.
In this article, we will be discussing the evolution of the online casino sector and the entertainment value of betting and gambling. Furthermore, we will be looking into the American and Canadian gambling industry, as well as the technology which enabled the industry’s rapid growth.
The Transformation of Gambling
Before we go into the details of how technology has made a multi-billion dollar gaming revolution, it’s important to take a quick look at how Canadian online slots and gambling transformed to become what it is today.
Before the emergence of internet gambling, land-based casinos were the big attraction. The earliest breakthrough in gambling tech was phone-line betting, which started in the early 2000s. Raising the stakes and simplifying wagering strategies brought added value to the industry as well as new customers.
The millennium brought new casino gaming technology on an enormous scale. Powered by smart-devices, online betting has grown at an unthinkable speed. Nowadays, it’s a multi-billion dollar sector.
Unfortunately, due to the prohibitive regulations on gambling in various countries, the illicit gambling trade has also grown rapidly in some parts of the world.
The Undervalued Social Rewards of Betting
There are some analysts who discount the pleasure that players get from the gambling process. They find the cash gains from betting to be the only significant benefit. However, betting can be fun and exciting.
For those of you who love risk-taking, the thrill of gambling can be both inspiring and rewarding. For some, gambling is exciting because of the variance associated with predicting future gains and losses.
In modern-day society, social reward and financial gain have become more important. That is one of the reasons why the gambling industry has boomed. People love playing these games.
America’s Online Casino Explosion
For ages, the gaming business has been trapped in a regulatory vacuum. Illegal bookmakers are taking advantage of the strict rules to provide under-the-table options for gamblers.
The reason: the key law prohibiting internet betting in the US has recently been overruled. One of the sectors of the fast-growing online gambling industry to benefit the most is sports wagering. A large number of people around the world enjoy sports betting on a weekly basis.
Among the most lucrative players in the industry is BRAGG, previously known as Breaking Data Corp. (BRAG.V; BKDCF) If the company grows as expected, BRAGG may quickly be worth way more than its recent market valuation of some $25 million.
The Canadian Online Gambling Industry
Great Canadian Gaming Corp.
In the last 36 years, the Great Canadian Gaming Corp. has established quite a reputation for itself. It has spawned an empire in Canada and the US with property scattered throughout the continent.
Its reputation is built on honesty, customer care, and endorsement from the gambling communities surrounding it. That’s what makes it one of the leaders in the North American online gambling industry.
Canadian Sports Betting Legislation
Besides the fact that annually, Canada loses roughly C$14B to the illicit sports betting industry, legislation was voted down in 2016. Legislators claimed that legalization of sports betting could lead to a fall in the integrity of live sports through match-fixing.
Yet the criticism has also been refuted after professional leagues, such as the NBA and NHL, collaborated with U.S.-based gaming companies, to expand the sports betting market.
What’s Needed to Dominate the Industry
● A longtime service team with expertise and experience
● Tried and trusted technology
● Investments in brand awareness
The Technology Supporting Online Gambling Revolution
According to the expert Lucas Goldberg, technology has been rapidly evolving during the late 20th and early 21st centuries in such a way that society has become dependent on it. Not just for gaming, but for everyday activities such as keeping in touch with family and friends, banking, shopping, and so much more.
With this revolution came the development of online gambling. Both software and hardware have undergone tremendous improvements, to make online gambling possible, better, easier, and safer. Mobile technology has also increased the convenience of interacting with the internet.
The growth in the gambling sector can be partly attributed to the development of the digital banking industry. Online banking, credit cards, cryptocurrency and e-wallets all play a part in making online gambling a possibility. Without the ability to be able to deposit money in some form, online gambling would not be the success it is today.
Moreover, gambling tech such as live dealer games, mobile interfaces, the development of slot game visuals, and better client surety through site security, has changed the face of gambling.
Conclusion
Any startup business needs plentiful capital resources, a dynamic team, and legislative backing to succeed. The same goes for online gambling companies.
The USA has made tremendous breakthroughs legally in the online gambling industry. But it seems like the Canadian gambling sector is still to catch on. Without all the new casino gaming technology advancements, especially those in the banking industry, online wagering could not have reached the heights it has over the last few decades.
