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The casino industry, surprisingly, dates back nearly 400 years. Not many people know that the industry is that old. Almost unbelievably, the first casino was opened in 1638 in Venice, Italy. As we move further along the timeline, the gambling mecca that is Las Vegas opened its first casino over a century ago, in 1906.
However, shortly after this, gambling was outlawed in the United States for a couple of decades until it was legalised in Las Vegas in 1931. This resulted in a huge industry that still flourishes to this day.
Photo, David Vives.
Las Vegas
Las Vegas is a place where the biggest shows and events take place. Iconic names such as Elvis Presley had a huge run in the International Hotel, where he played two shows a night. Other events include world championship boxing and UFC. It is also a major hub for corporate events, birthday parties and wedding celebrations, as immortalised in the hugely successful Hangover film series.
During this period, Las Vegas was a gamblers’ paradise; many states in America did not have legalised gambling and Vegas became a hotbed for tourists looking to win big money. Between the 1960s and 1990s, Las Vegas generated billions of dollars of revenue and still has a booming tourist industry. However, other industries and gambling markets began to emerge at the turn of the 21st century. These new platforms and methods of gambling have begun to eat into the enormous profits that Vegas casinos and hotels have enjoyed for decades.
Slot machines are strongly associated with Las Vegas and gambling as a whole. They are an integral part of any casino, and the likelihood is that most casinos will have several slot machines on the casino floor. However, thanks to the rise of the internet and online gambling, the online gambling industry is now a multibillion-dollar business. You can play online slot games anytime, day or night, and many consumers prefer this to the hustle and bustle of a busy casino.
Photo, Charles Postiaux.
International Markets
The availability of international travel has also resulted in growth in international gambling markets. People travel from all over the world to Vegas, but likewise, people also travel to places such as London, where gambling is legal and there are many casinos. On top of that, there’s so much to see in the English capital, and plenty of luxurious hotels to stay in.
The world seems to be moving closer and closer to mobile technology. Many big companies have now developed apps instead of websites, as people use increasing levels of technology primarily on their phones. This shift is dragging whole industries with it, none more so than the gambling industry.
Photo, Jonas Leupe.
The Move to Smartphones
As casinos moved more toward the online world in the 2010s, the main focus for developers was creating a website and improving functionality on these sites. As we head further into the 2020s, the overwhelming business strategy is to hoover up the massive potential profit base from mobile technology, smartphones and mobile apps.
Smartphones are changing not only the world but the online casino industry. Just over a decade ago, this industry barely existed. It is now a multibillion-dollar global industry. It doesn’t look like it will slow down anytime soon, with profits reaching record highs in the United States in 2021.
We must point out that casino games such as slot machines and roulette are not games of skill, and you should only gamble what you can afford to lose.
In any event, the key reason smartphones have completely transformed the online casino industry is due to easy and straightforward access to these games. You can access all of these games from the comfort of your home, without even moving out of your seat. In addition, you can participate in casino games that you would have had to travel to a physical casino for 20 years ago, while barely lifting a finger. It’s hard to imagine this trend being bucked any time soon; if anything, it’s moving in the opposite direction.
Judging by the marketing strategies of social media companies and media entertainment, it looks like the wave of consumers heading towards smartphone-only applications and features will continue to increase throughout this decade.
The effect these devices have had on the industry is staggering. Their influence, market share and power are becoming more influential as our world becomes more mobile-focused. It’s hard to see them not having the same seismic effect in the next decade as they have had in this decade and the last.
