How Lucrative is the iGaming Industry in 2022?
Gambling is a time-honored tradition among all human cultures. From the days of the oldest civilizations, people have engaged in games of chance, and wagered their assets on these games. There is a reason that the “lonely gambler” trope is a recognizable idea in most societies.
One thing that gambling has in common in every civilization, is that the practice evolves to fit the standards and practices of the culture. Once upon a time, when the legality of gambling was undisputed, people would play their games on the street, for all to see. Pretty soon, gambling was banned, and men had to go to gambling dens where they were safe to gamble to their hearts content. Over the course of history, the legality of gambling fluctuated, until the building of the massive casinos, whose profitability made it so governments could see the benefits of regulated gambling houses.
In the 21st century, where information and computer tech reigns supreme, gambling has taken on a new form. This is where iGaming comes in.
What is iGaming?
Simply put, iGaming is a catch-all-term for online gambling. This includes video poker, free slots, or live blackjack. It also can, but doesn’t necessarily, encapsulate sports betting online. Simply put, whenever you play a gambling game at an online casino, you are participating in the iGaming industry.
The most popular form of iGaming today, is playing online slots, which isn’t much of a surprise, considering the popularity of the slot machine at the land-based establishments. The online version of the game can be a lot more interesting and entertaining than its brick-and-mortar counterpart. The reason for this is the introduction of visual and audio effects, as well as mini-games that make the game more engaging.
On top of that, quite a few online casinos offer bonuses that make gambling a lot easier for the players. Newbies and veterans alike can put on a slot game at an online casino, and have their fun.
iGaming in 2022
The online gambling industry first developed in the late 1990s and early 2000s. This was the time when video poker was first introduced to the world, and made available online. It wouldn’t take long for online gambling to take off. By 2003, the practice was so popular, that Chris Moneymaker, one of the most famous poker players in the world, was named world champion, just based on his achievements at online poker.
Today, the industry is bigger than ever. Six U.S. States have legalized online gambling, and quite a few more have opened their door to online poker. Many States are also considering legalizing the phenomenon. In Europe, iGaming is even bigger. The United Kingdom is where online gambling is most developed, at least in Europe. Quite a lot of British people seem to prefer playing their games from home, rather than at any establishment.
The industry is also catching on in places like India, quite a few African countries, including South Africa, Kenya, Nigeria, etc., and South America.
