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Online Casino to Grow to $280 Trillion by 2023

We, at Springbok Casino, have long been aware that online gaming and gambling was ready for explosive growth.  The first online casino was established barely twenty years ago.  From that single casino, there are now thousands of online casinos.

Springbok is very proud of the progress we’ve made since we came online in 2012.  Read further about the great growth we in the online casino business expect in the coming decade and why we expect such enormous growth.

Scientific Analysis of Online Gaming in the Near Future

A long report about global online gaming appeared recently on Research And Markets.  The report has a very long name worth repeating in full: “The Global Online Gambling and Betting Market-by Gaming Type, Device Type, Region-Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2017-2023)”.

Short Term Analysis

One question that immediately jumps out is why did the study go only up to 2023?  The answer in one word is technology.  If someone had done a massive study back in about 2010 the study would have missed the great strides that have been made in graphics, animation, and sound.  It is these technological strides that have fueled the mobile gaming revolution.  We at Springbok Casino also feel the mobile revolution.  In fact, a majority of our players play primarily—not exclusively but primarily—on their modern mobile devices.

Great5 graphics are also fueling growth in the live casino market.  This is a live casino feed that online players can access.  Until just recently, the graphics for both mobile and live casino gaming were not nearly as good as they are now. 

Essentially, there is no telling what new technologies will be developed between now and 2023 and how they will affect the online gaming market.

Doubling the Market

In 2017, the global online gambling and betting market was worth 143.32 billion USD.  That sum will grow to about 280 billion USD by 2023.  Some of the growth will be in inflated dollars, of course.  That’s why the study determines its best estimate, not a perfect sum.  The compound annual growth rate will be about 12%.

Land Based Casinos

These numbers are simply amazing and at Springbok Casino, we are committed to giving you the finest online gaming so we and you both can become major partners in the growth of the online gaming market.

It is further quite amazing to read about such expected growth when billion dollar land based casinos and Integrated Resorts are also being built.

Simply put, the world’s population continues to grow.  Many people who do not gamble either online or at a land based casino will have a lot more disposable income in the next five years.  In addition, there will be many new and innovative ways to gamble. 

One such way is in sports betting.  As the United States gear up for a massive growth in legal sports betting, the local authorities will find the way to allow online sites to accept sports bets in the US.

Regions

Springbok Casino is perhaps the best online casino for South African gamers.  We are expanding our reach to cover the entire world, wherevers online gaming is legal and regulated.  So, whilst we retain our great commitment to our South African clientele, we also are looking for players from many other countries.

One result of our expansion is greater flexibility in banking.  We still use the Rand as our currency of choice but we will also accept many other currencies including crypto-currencies such as Bitcoin in the near future.

Growth in Africa

Europe and the Far East will lead the world in online gambling and betting growth in the next five years.  This does not mean that Africa will be left behind.  The vast African continent may be the next region to enjoy the kind of explosive economic growth that China and India experienced in the last decade or so. 

As a result, we at Springbok Casino are working to become the great African and South African online casino.  We expect our greatest growth to take place in the next decade.

Game Developers

It makes perfect sense that as the online gaming market grows rapidly, the number of online casinos will grow as well and the number of game developers will continue to increase.  Springbok Casino is dedicated to the idea that our players deserve the very best games in all categories.

We will continue to be ahead of the cure in terms of the creativity that goes i9nto every game.  Additionally, there will no doubt be great innovation in all aspects of online gaming in the next decade and Springbok Casino will be at the forefront in all such innovations.

Reliability and Trust

One of the most important aspects of online gambling is whether gamers can trust the casino.  Springbok Casino protects our players’ money through the most sophisticated encryption software available.  Within days of the introduction of even better encryption or even an entirely new method of safeguarding accounts, Springbok Casino will begin to use it.

Bonuses

Bonuses are one of the driving forces behind the fast growth in online gaming since 2000 and will continue to be a major element in the ongoing growth of online gambling.  One aspect of casino bonuses is called the paly though requirement which is a factor of the bonus that gamers must wager before they can withdraw winnings.

At Springbok, the play through requirement is generally about 30X the bonus. 

Return to Player Rates

As the amount of money wagered increases, the percentage of that money that can be returned to players as winnings can also rise.  This is akin to the marketing concept of larger profits through mass sales.  It could be that the built in return to player rates at Springbok will increase in the next few years as South Africans become more affluent and enjoy the entertainment value of playing online casino games.

Conclusion

The very fact that this massive study was deliberately ended at 2023 means that online casino growth will nearly double in five short years.  For online gamers and casino operators, the times we live in are indeed very exciting.  Springbok Casino will do everything in our power to continue to bring great online gaming to South African players and to the world at large.