The World Of Online Gambling – An industry overview

In the last few years we have seen how the digital revolution has impacted our life and of course gambling has also been completely changed by the new technology. In this article we take a look at what are those changes  and also we are giving an overview of the current status of the gambling industry.

Forms of online gambling

Since the internet has developed, gambling has found different ways to get involved and over the years companies have evolved to offer players the best possible service with innovation pushed by the strong competition. Players are now able to gamble in many different ways completely safe from the comfort of their own homes.

If this is a very positive development on the other side can make gambling very addictive as it brings down that physical barrier that traditional gambling had. Nowadays you can play every time and from everywhere which is why keeping a strong control on gambling activities is a must to avoid compulsory behaviours.

Forms of online gambling

There are several new ways of gambling in the digital world and below we have taken a look at the most popular ones with the help of CasinoBiggestBonus specialists.

Sports betting sites and horse racing betting sites

Online sports betting is a very famous gambling activity where players can earn money by betting on sports event. Sportsbetting sites allow you to predict sports results by placing a bet on the outcome. The bets are placed against the bookmakers who are setting the odds for the different events or markets. With the arrival of the digital revolution sports betting sites have evolved and now offer enhanced opportunities to bet with the introduction of the betting in-play and a lot more betting markets. Players are now able to place bet almost on every sport like horse racing, greyhounds, football and lots more. As with any other gambling activities chance still play a big role and odds are built by bookmaker with a margin for the house. With the arrival of the online gambling the competition has increased and this has had the outcome that odds have been improved by bookmakers to retain and acquire new customers.

Odds are presented in different form depending on which country you are: there are 3 main ways of displaying odds and those are European Format, UK Format and American Format. There are simple mathematical formula to convert odds in the three different format however in the UK for example a odds of 2/1 means that if you place a £1 bet and that bet is successful you will get back a stake of £1 plus and additional £2 which is the win. So in total you get back £3. Regardless how much you know about a sport, it is important to remember that this is still a gambling activity based on chance and therefore gamble responsibly is a must.

Online casinos

Online casinos another very popular form of gambling where players can bet real money on live or virtual games like video slots, table games, video poker games and lots more. Those games are regulated by Random Number Software that do ensure fairness however odds are like in the land-based casinos in favour of the house. Since the technology has improved in recent years the competition has become fiercer and this has pushed lots of gambling companies to be a lot more generous with players. As you might have seen there are lots of bonus, promotions and players rewards that are offered by the individual casinos with the intention of retaining and/or acquiring new customers.

A very popular game that you will be able to find at online casinos are slots machines that are also known as fruit machines. This time of gambling game was invented in San Francisco towards the end of the 19thcentury by Charles Fey who was a German immigrant. Those type of games were found at amusement parks and pubs and due to the law at the time the price was fruits candies rather than cash.

Nowadays slots machines have evolved and since the arrival of online gambling it has been an explosion with a huge number of new slots machines being created. Although there are many different theme variants a slot machine use fundamentally the same principles: there are a number of reels and rows with a combination of symbols and pictures. Depending on the outcome of a spin a player wins or not depending on how the symbols and pictures do come up. Modern slot machines also have in addition bonus games an free spin feature to keep the engagement high and also increase the chances of a win.  The game of slots it is regulated by a Random Number Generator which ensure that no one can guess the outcome of a spin, not even the operators.

Poker sites

There are many ways to play poker online however the most common variants include Texas Hold’em, Seven-Card Stud, Omaha and Five-Card Draw. Online Poker is usually played in tournaments or cash games and has seen a massive increase in terms of number of players since the arrival of the internet. To attract more and more players there are also freeroll tournaments that do not have an entrance fee: those are perfect especially for beginners players to learn and test strategies.

Online lotteries

Lotteries have also moved online and most of those sites are normally managed by the government. This is because lotteries can generate huge income for the state and this is why the governments tend to protect those from competition. Having said that there are also some privately run lotteries sites.

Online bingo

Bingo is also a very popular way of gambling online. Of all the forms of gambling we have seen it is probably the most social as there are multiplayer chat facilities that tend to connect all the different players. Normally online bingo rooms are open 24 hours a day and similarly to online casino in the last few years we have seen offers and bonus increasing due to the competition becoming fiercer.

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