The State of the Online Poker Industry This Year
The online gaming community has certainly grown in leaps and bounds during the past few years. The ability to play poker games online has increased dramatically; high-speed Internet and a greater number of mobile apps partially contributing to such a climb. This has equated to a pronounced increase in revenue generation and the creation of new and innovative gaming platforms. Additionally, it seems that the number of gaming-related social media sites is indeed on the rise. While the allure and the attraction of online poker tournaments is certainly undeniable to millions of aficionados, what are this year's financial highlights and equally as important, how has the economics of online gaming influenced the demographic of the gamers themselves?
Big Figures, Bigger Games
As of 2012, the online poker industry (in global terms) was estimated to be worth
an estimated $417 billion dollars. That is quite a lot of poker chips. Although 2013 is not yet completed, many analysts feel that this year's revenue will increase yet further. This is all but essential in not only maintaining the thriving online atmosphere that has come to define these virtual games, but it may also be pivotal in convincing United States lawmakers to legalize the industry for their domestic market. Should this occur, the amount of revenue generated (and prizes won) will rise astronomically. It could soon be a foregone conclusion that the ability to play online casino games may never be more rewarding.
The Rise of the Mobile App
It has been shown that number of online gaming enthusiasts has risen by approximately five percent during the months of August and September. This is partially due to the rise in popularity of large, respectable sites. For example, those who play online poker at Bovada.lv and similar portals can expect increased payouts while enjoying unparalleled levels of security and enjoyment. The ability to play poker online at sites such as these has also been massively influenced by the increase in the number of mobile applications currently available. This is a primary reason why large investment firms view this industry as a lucrative and liquid opportunity .
These applications can be played on nearly any modern smartphone and with a simple blackjack or poker download platform, the ability to access these fun and rewarding variants has never been easier. As the number of smartphone users steadily increases, it can only be expected that the revenue generated from the corresponding influx of capital will likewise surge.
The Implications for the Gaming World
One of the likely results of this financial windfall will be a greater number of quality site emerging during the next two to three financial quarters. Likewise, games such as Texas Hold 'Em online, blackjack and slots will offer greater rewards. There may be increased signup bonuses, a greater number of available tournaments or bigger jackpots.
Similarly, the technology behind online gaming will also increase at a frenetic pace. The increased revenue that is generated will naturally be placed back into logistics, infrastructure and game play. The result will most certainly be more robust gaming platforms, highly interactive experiences and a better overall structure.
The Decline of the Physical Casino?
Many may wonder whether these profits will encroach upon the physical casino industry. While some in the past surmised that online games would overtake traditional gaming sites, no such phenomenon has been observed. Rather, the Internet has appealed to a younger and more technologically savvy generation. The appeal tends to fall between those aged twenty-one to forty-five. While indeed there may be a shift in the future, events such as the WSOP will continue to enjoy a wide audience and this will remain the case for quite some time.
So, it is clear to appreciate why the online gaming industry in 2013 is indeed a highly profitable platform. Barring a financial collapse such as we witnessed in 2007 and 2008, the momentum and the revenue generated is expected to increase with time. It will be very interesting to see what the future holds for the lucrative sector of online casinos.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.