By Online Casino 365
The Growth of the Casino Industry
Gambling was first recognized in the 1790s thanks to one man’s success at bookmaking. Harry Ogdon was the first person in the world that was ever able to turn a profit this way. He operated out of Newmarket Heath and studied horseracing thoroughly enough that he was able to lay realistic odds on each horse he bet on.
By 1845 gambling was associated with racetracks. However, a new law at the time banned public card games in which real money was wagered. As a result bookies began to allow their customers to gamble on sporting games as opposed to races. Bookmakers would eventually take over shops to run their operation out of.
Betting shops finally became legal in May of 1961. At the time, within a period of six months 10,000 new betting shops opened for business. Bookies would work behind the counter of the shops studying pages while the designated board-man would take information they received through the wire services and use it to mark up both prices and race results.
In 1986 betting shops took advantage of new technology that allowed them to be equipped with TVs and serve hot drinks to their customers. This also marked the first appearance of “fruit machines” which evolved into the slot machines gamblers know and love today. Racing courses were computer generated in betting by this time.
It wasn’t until 1998 that bookies began to realize that they could move their betting shops to the Internet. This was the year that many online sports betting sites emerged, such as Betdaq and Betfair. It was also the year that many online Poker and Bingo sites were launched. By 2012 online gambling had created revenues totaling approximately $4 billion, up 80% since 2008. By the end of 2015 it was estimated that the total revenue had reached approximately $4.1 billion.
Online gambling isn’t the only thing increasing the revenue within the casino industry. In 2012 there was a 75% boost in mobile gaming. In 2014 mobile gaming earned twice what it did in 2012. It has been predicted that by 2018 40% of all online gambling will be done on mobile devices. As a result more and more mobile apps are being created that allow gamblers to take their favorite casino games with them wherever they go.
One way that brick-and-mortar bookmakers are attempting to compete with the online and mobile gaming industry is to include touch screen betting kiosks in their shops. These kiosks can be personalized for each individual bookmaker so that they can install a cash drawer or receipt printer. They are very interactive and user friendly. Paying, betting and gaming can all be performed on these kiosks. This is the best way that many bookmakers feel they can still compete in the industry and continue to thrive as business owners.
It is likely that the casino industry will continue to grow and develop. Mobile apps are changing the face of the gambling industry.