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Top facts about online gambling

Since its beginning back in 1994, the online gambling industry has experienced considerable growth. It’s wise to assume that the growth is unlikely to stop. Furthermore, it has been further accelerated by the pandemic situation. We may even see regular, land-based casinos fall behind at some point. As much as a quarter of the population gambles regularly. If you’d like to find out more about kasyno online, here are some interesting facts.

Men are far more likely to play at online casinos

84% of casino players are men. Studies have shown that only 16% of players are women, which may be due to the fact that men are more prone to impulsive behaviour for coping with bad emotions. Men are far more likely to take risks as well, so that may be the determining factor, too.

The first online casino software

Isle of Man-based company Microgaming was the first to create online casino software back in 1994. Since then they’ve grown immensely, now being one of the top software providers for online casinos.

The first online casino

Maltese InterCasino is considered to be the first company to launch an online casino. The first wager was accepted back in 1996. The casino operates continuously since then, still being a reputable name in the industry. They use CryptoLogic’s software. The largest payout issued by InterCasino happened in 2007 when a man won $8 million.

Online gambling industry growth

Online gambling has seen substantial growth during the past few years. Especially now it has gained quite a bit of traction due to the pandemic. In 2018, the online gambling industry had a 23.2% casino market share. Now it’s probably quite a bit more. The annual revenue growth is at 11.5%, and it’s expected to reach as much as $127.3 billion by the year 2027. As of 2018, according to the American Gaming Association, 2800 gambling websites were active.

Europe is the largest market for online casinos

The European market comprises almost half of the overall online casino industry. In the USA, some states have recently legalised sports betting, so European providers are expected to expand across the pond. With the most popular gambling countries such as the UK and Malta, it’s no wonder that Europeans are the most likely to gamble.

Not all casinos are legitimate

While the reputable casinos are the majority, some of them are scams dedicated to taking your money. Be wary of unrealistic bonuses, bad-looking websites, and unlicensed casinos. These are all red flags that a casino is not legitimate. The best case then is that they won’t let you withdraw your winnings, and the worst case is that they will just disappear along with your money.

Some casinos are using cryptocurrency

Cryptocurrency, apart from making its way to regular, day-to-day life, has found use in online casinos. There are plenty of benefits of using Bitcoin or other cryptocurrencies in the industry. Some of them include better security, quicker withdrawal and deposit times, no registration needed, and complete anonymity. 

Casinos are illegal in Japan

Japan is one of the few countries where almost any form of gambling is illegal. Apart from public sports betting, lotteries, and the historical game pachinko, it’s against the law to host any gambling activities. Some mahjong parlours practice playing mahjong for money, which is illegal a well. Yakuza are known to host illegal gambling dens as well. Some mobile gambling sites operate in Japan as well. An owner of one of these sites that offered rock-paper-scissors gambling got arrested in 2010. 

The house always wins

Statistically, no matter what you do, the house always has the edge. Even when playing blackjack, where the odds are the best, you can’t win in the long run. Counting cards is one way to skew the odds in your favour, but even when live gaming, the dealers use continuous shuffling which makes it impossible. Online gambling is certainly not a thing you do to make money. The sole purpose should be to have fun.

The biggest jackpot in the history of online casinos

The top three largest jackpots won in online casinos include:

  • $17.2 million on Betway playing Mega Moolah
  • $23.5 million on Grand Mondial playing Mega Moolah
  • $24 million on PAF casino playing Mega Fortune

These jackpots are incredibly rare to hit. The chances of achieving one are 1 in 24,918,016 for Mega Moolah. To compare, the odds of winning in a lottery are 1 in 45,057,474.

Slots are more addictive than other games

Because slots are fast-paced and designed to take your money as quickly as possible, they’re quite possibly the most addictive of the bunch. At times, the RNG doesn’t give you any winnings and then, all of a sudden, rewards you with a large payout. This creates a rush and makes you feel like a win was coming.

Sports betting is the most popular activity in online casinos

Sports betting comprises 42.5% of the online gambling revenue. It’s followed by casino games (32.4%), lotteries (12.6%), poker (5%), bingo (4.3%), and other games (3.2%), as per European Gaming & Betting Association’s market analysis conducted in 2018. Sports betting is so appealing because the bettor has quite a bit of control over what he’s doing. The same can’t be said for RNG-based games such as slots, where the player is at the mercy of randomness. With sports betting, one can do enough research and statistical analysis to come up with a strategy that lets him come out on top.

Syandita Malakar
Syandita Malakar
Hi guys this is Syandita. I started Business Module Hub to help you all to post updated articles on technologies, gadgets. Although I love to write about travel, food, fashion and so on. I quite love reading the articles of Business Module Hub it always update me about the new technologies and the inventions. Hope you will find Business Module Hub interesting in various way and help you accordingly. Keep blogging and stay connected....!
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