The invention of sports Gaming apps has revolutionised the way we gamble. Previously, if you wanted to have a flutter, you would’ve been required to visit your local bookmakers or locate your nearest land-based casino. Nowadays, at the touch of a button, you can place a bet on an upcoming sporting event or perhaps even take part in a highly competitive poker tournament from the comfort of your own living room.
With the global sports Gaming market projected to reach US$65.68bn by 2029, the industry is showing very few signs of slowing down.
Gaming apps are incredibly easy to download and anyone of gambling age who also owns a smartphone can access these online platforms. It doesn’t just apply to sports fans either with casino users now able to immerse themselves in the online gaming experience superace88. And it doesn’t stop there, most national and local lotteries can also be accessed using an app whereas bingo fans no longer have to check the opening hours of their local bingo hall in order to experience the thrill of getting a full house.
Positive Impacts
Although the risks related to gambling have been well-documented and cannot be underestimated, the expansion of this market has created a number of benefits to the wider business landscape.
Such a wide range of Gaming apps has helped create numerous jobs and although this isn’t necessarily an industry that is given much credit for opening up employment opportunities, each new site will require developers, SEO specialists, graphic designers as well as a marketing team. Furthermore, online casinos require dealers to work on their live gaming products and the addition of game shows has also increased the requirement for hosts, many of whom add a much-needed layer of interest in order to keep players engaged.
We also cannot forget the online roles which have been created by this exponential rise in online gaming. Casino bloggers, Gaming writers, social media personalities and professional eSports gamers may be extremely modern-sounding roles, yet these would not have become viable avenues of employment without the advent of Gaming apps and the increased accessibility of Smartphones.
In the UK, the online gambling industry contributes an estimated £350 million to horse racing’s finances and this enables tracks to remain in business. As well as employing hundreds of staff, these racecourses also allow local hospitality firms such as bars, restaurants and hotels to thrive and prosper.
Gaming and sport have become overwhelmingly intertwined and you can find a lengthy list of partnerships which have been struck between top US sports teams and online Gaming companies. These have been the catalyst for improvements across the board with a noticeable improvement in fan engagement and those who are further down the food chain have undoubtedly been helped by the financial injection.
The average Canadian reportedly spends around $6.75 per month on gambling and this has increased year-on-year since due to the recent expansion of the industry. Although many would assume that this expenditure is simply lining the pockets of the Gaming companies, revenues and taxes collected from the Gaming industry continue to rise and these tend to help pay for public services such as libraries and schools, as well as the general infrastructure of town centres. This has undoubtedly had a positive impact on other businesses who are trading in these areas.
Negative Impacts
Aside from the obvious personal risk which is inherently linked to gambling, there are only a handful of negative impacts which can be attributed to the exponential rise of online Gaming apps.
Some live Gaming sites offer live streaming capabilities and this may potentially dissuade fans from attending games or heading down to their local pub to watch all of the action unfold. If enough people opt to remain at home, we are likely to see a potential knock-on effect on the hospitality industry.
Similarly, with online casinos offering an immersive gambling experience, there has been a slight downturn in footfall at land-based casinos. This may result in fewer staff being required and surrounding businesses may also suffer as a consequence. Thankfully, online casinos haven’t found a way to recreate the social aspect of a trip to the casino and they cannot provide the same experience for a group of friends who are searching for some after-dinner entertainment on a weekend evening.
Bingo halls have been badly impacted with many establishments having been forced to close over the last couple of decades. A combination of online gambling sites and the COVID-19 pandemic have caused a catastrophic decline with many of those who remain in business are only narrowly turning a profit. On the contrary, online bingo sites are thriving and they boasted a gross gambling yield of £173 million in the year to March 2023 and that has continued to rise ever since.
The loss of bingo halls, high street bookmakers and land-based casinos badly impacts towns and cities with empty retail units creating a down-at-heel appearance. This may deter potential customers from visiting adjacent businesses and may also persuade companies to look elsewhere in their search for vacant premises.
Online Gaming apps have become far more prevalent over the last few years and it is now widely regarded as the simplest way to enjoy a flutter. However, these improvements and developments have undoubtedly affected the business landscape, particularly those who are intrinsically linked to the gambling industry.