Casino - The Goldmine Of The Gaming Business
The Casino business has a rich history that dates back to the 1600s when the first brick and mortar casino was established. Much later, in the 90s and 2000s, the casino business began to gain popularity, and more land-based casinos were opening in parts of Europe and other regions of the world. By 2010, casinos had become a go-to hub for many people.
As much as land-based casinos were becoming known and the revenues were adding up, the emergence of online casinos ushered in a level of success that was phenomenal.
The explanation for this is apparent. Online casinos give varieties and incentives that may be hard for brick-and-mortar casinos to compete with, hence, their rapid dominance of the market.
In the coming years, the global gambling industry market size is projected to increase from 287.43 billion dollars to 458.93 billion dollars between 2022 and 2026. A more significant segment of this revenue surge is going to be triggered by the increase in more online casino operators and applications offering seamless casino entertainment to customers.
That said, now is the best time for starting a casino business of both types to revisit their strategies, form new partnerships, upgrade their systems, and create attractive products and services that meet the needs of gamers in this new age.
Offline and Online Casinos: The Tussle For Relevance
Whether an online casino is better than a land-based casino has been in discussion for the longest time. While both have their unique contributions in the overall scheme of things, one may be tempted to tilt to the side of online casinos. From the lens of business, let's examine a few pros and cons of both offline and online casinos.
Advantages for Online Casino Business
- The startup cost is less capital-intensive;
- It generates more and pays less tax;
- There is no limit to the number of customers it can attend to per time;
- It gives several incentives and offers that can attract new customers;
- It offers convenience;
- It is more secure as transactions are electronic;
- It provides a lot of varieties;
- It can be accessed anywhere and anytime, providing reliable internet connectivity;
- It offers the chance for gamers to gamble in several currencies, even cryptocurrencies.
Cons of Online Casinos
- It's affected by internet downtime;
- The competition that exists in the online casino space is high;
- New online casinos have to do a lot of advertising to attract customers;
- It's affected by strict government laws and regulations;
- Customers can't have social interactions in an online casino;
- Customer retention is hard.
Offline Casinos Pros
- It can offer various services within the establishment apart from casino activities — e.g., hotels, bars, restaurants, etc;
- It contributes actively to the economic growth of its location;
- It creates job opportunities for people living around the business;
- It provides opportunities for authentic, social interactions.
Disadvantages of Offline Casinos
- It is affected by stringent government laws and regulations
- It is more expensive to start and run an offline casino
Offline and Online Casinos: The Common Ground
It's no longer news that these two versions of casinos vary in many ways. But, what do they have in common? The answer is obvious. It's the games! Both offline and online casinos provide similar products which are slots and table games, including Baccarat, Craps, Keno, Sic Bo, Roulette, Blackjack, Poker, etc.
The slot machines in land-based casinos are famous for their lighting and sound, which always calls the attention of gamers. They have this pull-and-release lever that is attached to their side. They are also quite colorful and entertaining. They come with game sounds and symbols displayed on the slot machine screen, which varies depending on the theme of the games. You have to ensure the characters or numbers show up on the same row in a slot game, and you have a win. The rows, called reels, could be three or five, depending on the slot manufacturer. Video slots in online casinos follow similar rules of play. However, they are more colorful with bright graphics, cool sounds, and generally more engaging.
Table games are games of probability, math, and a lot of intelligence. They create this sense of elitism and grandeur among players. To successfully participate in a table game, one needs to master the rules guiding the game. Each of the table games mentioned above has laws that determine how each player participates and wins in the game.
The opponent in a table game is the 'house'. An attendant known as a croupier supervises the activities around the table. Takes the bet, calls the win, and administers the winnings.
A live casino is a real representation of what happens in a land-based casino. It gives you that same experience of being together with a group of players. It involves playing real-time games with other players, albeit online. Typically, table games are primarily played in live casino modes.
Offline and Online Casino: Our Offer
At NuxGame, we have developed a package of products and solutions that would prove invaluable to your casino business, whether you run it offline or online. These solutions would help you scale your casino business faster and easier, especially if you are newly starting.
Our solutions include Seamless Wallet API, Turnkey, Sport Engine, Retail. Our line of products involves providing you with software for your online casino, sportsbook (new or existing), live betting, live casino, virtual sports betting, affiliate system, and agent system.
The gambling industry is booming more than ever. Now is an excellent time for new online and offline casino businesses to emerge to accommodate this teeming population of gamers. We at NuxGame are ready to help you make that decision less demanding. Call us up, and let's get talking.