The Online Gambling Industry - Understanding its Trends, Predicting its Future

beautifulday (59)in #blockchain • 6 years ago

Quick facts and figures about the gambling market

When someone mentions the word gambling, most of us immediately think of Las Vegas, casinos or poker. Without a doubt, this is absolutely normal - there is something about the gambling activities that attract more and more people every year, all across the world. Maybe it’s the atmosphere we associate with gambling, the girls, the fame, the money or something in our subconsciousness that gives us a boost of energy or that adrenaline rush we are all in search of. How big is this industry? Data presented in a Statisa.com report shows that in 2015 alone, the U.S. casino gaming market revenue reached the amazing number of $71.1 billion. That year also will also be remembered for the high number of Las Vegas visitors - 42 million individuals.

However, for millions and millions of people across the globe, another alternative to gambling has been emerging over the last years. A quick look at recent statistics will reveal that the online gaming industry (or gambling) has been booming! Again, in 2015, the online gambling market reached its highest peak - 37,91 billion US dollars. Specialists and researchers are forecasting increases, over the next years, so that by 2020, the figure will skyrocket to 60 billion US dollars.

A short introduction to online gambling

In a nutshell, online gambling refers to poker, casino games (roulette, blackjack, etc.), lotteries, bingo or sports betting. All these represent activities that imply the gambling of something of value (most of the times money), on the outcome of an event or game using the internet.

Despite this huge rise, this industry still faces many struggles. How can participants address them?

Discover JoyToken - a modern global gambling cryptocurrency

Developing games in this modern industry can be a problematic and twisty process. How so? Because most of the times, to create such products, you have to request a license and then integrate with the operator’s back-end.

JoyToken was built to make this easier for independent developers in three distinct ways:

Games integration is simple with a special tried and tested games development system
Payments go straight to developers bank accounts
The platform offers access to Playcosmo.com a live online casino that’s licensed in the UK, Malta, and Curacao, allowing access to multiple global markets.

Moreover, Playcosmo gives developers the chance to test their games before a general release to other operators.

Also, JoyToken provides more: traditional development firms aren't reaching out to all gamers (particularly Millenials) who want more from their gaming experience. We may mention just a few: financial anonymity, trust and instant withdrawal of their funds.

JoyToken was conceived to address these needs and issues through the use of the blockchain technology - a solution that keeps on revolutionizing the way, so many industries nowadays function. What are the direct benefits for players that join JoyToken? Complete anonymity; instant payouts; quick and direct access to the smart contracts, to easily determine the fairness of the games they are playing. Regulators are kept up to speed with the leading edge of blockchain technology while keeping regulatory compliance - so, all parties can be assured that games are legal and compliant in all the markets they appear.

Developers can stop worrying about the backend; operators receive new games (and integrate the new technology) and a set of players who are interested.