Why are there so many new casinos?
Anyone who was of age in the 1980s and 1990s will tell you that casinos as rare as the poo of a rocking horse. You simply never got to hear of them. In the unlikely event that you did, they came across as places reserved for the older, rich, carefree folk.
Enter the 21st century and casinos started looking like a place an ordinary man could have a good time. The 2000s were a boom in casino emergence compared to the years past. However, they now appear lukewarm compared to the growth experienced post-2010. So what are the reasons for the surge in the number of new casinos in the last decade?
The internet literally threw the world into a new spin. Well, the phenomenon became a public resource more than thirty years ago. However, it is only recently that it has penetrated most parts of the world. The internet led to the birth of a new model of casinos – internet/online casinos.
Online casinos enjoy a lot of advantages over their traditional counterparts. For one, they are more difficult to monitor since players don’t flock a physical location. Two, there are no clear regulations governing online gambling in many areas of the world; authorities were caught napping! As a result, online casinos enjoy more freedom to operate and grow.
Furthermore, online casinos do not require a giant building to operate from. This has hived off a large part of the capital required to set up a casino. As a result, many people who would hitherto have not been able to set up casinos can now get into the game.
On top of that, the internet allows casinos to operate over a larger geographical area, sometimes traversing continents. This has brought in more customers for every single casino. As a result, casinos make more revenue which makes it easier for them to expand. Huge revenues are also drawing more investors to the industry.
Rise and growth of game providers
Behind the amazing casino games that gamblers love lies a silent group of masters- the casino game developers. These are the (presumably) nerds, who put in the work to make the games what they are. They put in numerous hours in the back end coding so that games can be safe yet responsive and fun. Companies like 888 Gaming, NextGen, Playtech and others are responsible for producing the games we see in most of these casinos.
Almost all of these companies have experienced the greatest growth in the last decade. Their capabilities have been enhanced by developing computer technology and an increased pool of labour. Thus, these companies can handle more casinos, leading to an increase in new casinos.
Improvement of trade models between countries (liberalization)
As globalization continues to take shape, the operation for casinos- both online and land-based- has become easier. Bi-lateral agreements have allowed gambling companies to move into countries where they faced restrictions before. A handshake between two heads of state might never look like it has to do with gambling, but the sly foxes are always lurking nearby waiting to lap it up – look closely.
Countries like Brazil are now lifting long-standing bans on gambling. Such markets and the penetration of the internet are attracting new casinos in droves.
The gambling craze
Gambling is, without doubt, the craze of the moment! Wherever you go, the world is mad about gambling. From sports bets to lotteries and casinos, everyone is lining up for their lucky day. Never before were there more people in the world placing wagers in casinos.
In response, entrepreneurs have found an opportunity in the bursting market and are swooping in for a kill. People want to gamble more; casinos are giving people more to gamble on. It’s a cycle!
What games can you play in new casinos?
Despite the huge evolution and early adoption nature of casinos, they never seem to lose their basic form. The same games that were played in casinos in 1950 are the same ones that are to be found today. Even the new additions are games created on the prototype of previously existing games. Some variations of poker created in the 80s, for instance, were based on the classic poker.
However, there is always an effort to make casino games fast, hence some rule tweaks. In that light, therefore, the casino games in new casinos are similar to those in old establishments. These include:
Like poker, baccarat, blackjack, Texas Hold ‘Em, three-card poker, and others
Like Star Burst, Millionaire Genie etc. Slots are the dominant games in most casinos, old and new, online and land-based. They often account for over 90% of the catalogue.
E.g. Sic Bo
Although not strictly considered casino games, many casinos are converging and offering sports bets to gamblers. Sporting events, live betting, virtual leagues, and e-sports are some of the many markets in sports betting.
Who owns the upcoming new casinos?
Most new casinos are subsidiaries of huge existing gaming companies that are expanding or forging into new markets. Companies like BetWay, Ladbrokes, and 888 among others are actively setting up new gaming houses. Most times the new casinos use the same names as their parent companies. However, some companies may opt to adopt different names in some regions for strategic purposes.
On the other hand, there are a host of new entrepreneurs coming into the booming casino business. With the reduced cost of setting up casinos since they went online, more businesspeople can now afford to open shop. Furthermore, other reasons explained above like lifting of bans and the betting craze have attracted new investors.
What are the legal provisions for new casinos?
Legal provisions for new casinos vary from jurisdiction to jurisdiction. In many places, all casinos were governed by the regulations that applied to land-based casinos in days past. However, many of these laws have proved ineffective in the face of online gambling.
As a result, many countries have had to re-visit the old laws to make them compatible with new-age gaming. Some, for example, are legalizing online gaming for local casinos to allow citizens to enjoy them in the same way they enjoy foreign-based casinos.
Some countries that have for a long time outlawed gambling are also reviewing their stands. Brazil stands out as the best example in this category. Such countries are forming a fertile ground for new casinos to set up shop.
On the other hand, there are countries that feel it is about time to tame gambling. They have realized that their laws can be exploited to further irresponsible gambling. Such nations are setting up new laws to curb the budding problem. They are taking actions like demanding that new casinos offer safe betting options. Such options include self-exclusion and displaying clear warnings against addictive gambling.
Can you play for real money in new casinos?
Yes, actual gambling is the main reason why new casinos are coming up. Usually, casinos set up beta versions of their websites during site-building. When the casino is at this stage, the games can be played for fun without winning money. However, only a few people are aware of the existence of a casino when it is in the testing stage.
By the time casinos go public, they are offering real games for real money. People are able to deposit money through various channels such as PayPal and MasterCard. The new casinos also use these money-transfer methods to pay out winnings.
Are new online casinos legit?
Like any other industry, the gaming industry has its share of cons too. However, most new casinos are legit. It is pretty easy to tell the fakes from genuine casinos. The gaming licence of a company is a key feature on its website.
Legit casinos, whether old or new, usually indicate their gaming licence number on their site. They also mention the regulator that has ratified their operation. If a site appears to withhold such information, you should treat it with suspicion.
The bottom line
New casinos are a great addition to the casino gaming world. Not only do they offer more places to play in, but they also bring innovation to the game. The changing landscape all around the world has made it easier for new casinos to begin and thrive.
The greatest winner in all this is the gambling enthusiast. Now there are more games to play and gaming is much simplified. That said, it remains a gambler’s personal responsibility to ensure they play responsibly.
Cheers to more new casinos in the market!
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