The Recent Changes in the World of Online Gambling
The gambling industry is constantly evolving, with online casinos becoming more popular than ever. In 2017, the size of online gambling was $45.8 billion, but the size is expected to grow up to $94.4 billion by 2024, meaning the market will become even more popular.
But, what makes online gambling so interesting?
According to many customers, online sites provide a better user experience than land-based platforms. They are set at lower costs with higher bonuses.
Another reason why online sites are a better option than land-based casinos for many people is that they allow users to place wagers in real money casino no matter the time or place as AussieCasinoHEX.com reports. They can use betting sites from their own homes without wasting money on food or drinks.
Gamblers who are looking for progressive changes and constant winnings are attracted by the many great jackpot opportunities offered by online gambling sites.
The increase in the size of the industry was expected because of the tech advancements in recent years. Now, the industry is ready to face some difficulties where bigger operators get a larger share of the market while the smaller ones take a considerable hit.
Read on to find out some of the most important changes in the online gambling industry.
Changes in the Online Gambling Industry
1.Credit Card Ban
As of April 2020, online gamblers are facing one of the biggest changes in the gambling industry. Namely, users are no longer able to use credit cards to fund their bingo and casino accounts. This payment method is used for more than half the deposits done, so we can only wait to see the consequences of this ban, especially for smaller businesses.
The ban was announced as an important measure to reduce problem gambling. Experts hope that by preventing vulnerable people from using their credit cards for gambling, they can help them avoid financial harm that can lead to depression, anxiety, family breakdown, and even suicide.
One thing’s for sure, the credit card ban is definitely one of the most significant recent changes in the world of online gambling.
2.What About No Deposit Bingo Sites?
The gambling authorities made another change in the business to protect minors from wasting money by restricting their access to gambling sites. But, this change has significantly affected the online bingo scene.
Not long ago, people could access no deposit bingo sites and get a free bonus to try their games. All they had to do was to register an account without even verifying it and get the free bonus.
Generous bonuses were offered by Mandalay operated sites and the Cozy Games network. But, since their main way of attracting new users was banned, many sites operated on Cozy Games are no longer in function. Bonus hunting was another reason why they put an end to the bonus, so the sites had no other option than to stop operating.
Nowadays, new regulations demand account verification so that users can prove they are 18 years or older before using free spins, bonuses, or anything else that’s free. What’s more, all freebies are attached to higher wagering requirements and deposit. So, users can forget about “no string attached” in regards to bonuses.
3.No More Gambling Ads with Animated Characters
The ban of cartoon characters was put in place about one year ago with the sole purpose of preventing gambling companies from attracting minors. A lot of gambling websites had an animated character as their mascot, but after the ban, they were forced to remove it.
Also, they had to replace any banner that presented slot games with cartoon characters like fairies. Users can now see these images once they register an account and have their account approved. In this way, they prove they are 18 years or older and can start gambling.
Even though this may not be the biggest change in the online gambling industry, it’s one of the first measures to protect minors from being exposed to gambling.
The Bottom Line
The future of online gambling may be hard to predict as this is an industry that keeps on making changes to stay up to date with technological advancements, to provide better user experience, and to improve customer protection. We can only wait and see how these changes will affect the business.
Disclaimer: This is a paid post and should not be considered as news/advice.
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