The rise of the internet has resulted in a vast array of industries expanding their profit margins and business models. Gambling is one of the industries that has arguably gained the most from the rise of the internet.
Online bookmakers have truly hit the ground running in the rise of the digital age. Traditionally, gambling was done in licensed premises such as casinos or betting shops. While these companies have always enjoyed handsome profits, they have exploded in the last two decades.
One of the reasons for this is that people prefer to gamble online or on a mobile betting app. It is easier, more convenient, takes less time and offers a range of facilities such as cashing out or betting outside of traditional office hours.
Casinos have always offered this facility, to be fair, but the majority of bookmakers that are based physically on licensed premises will usually operate around the hours of 8am to 10pm. Later night land-based gambling would take place in a casino.
For example, if someone based in the UK wanted to place a wager on the Ravens vs Patriots game during the game, they wouldn’t have been able to do so previously because of the time difference. However, the rise of online gambling has allowed these markets to become available.
Some customers do prefer the old school and more traditional way of gambling. Casinos, in particular, still let in several bettors so they can enjoy a night out among friends and be more social.
For this reason, casinos still have a certain appeal and charm. Their popularity hasn’t dwindled, and there is still a very big market for them. It is important to remember however, that you must only gamble what you can afford to lose, and you should stop when the enjoyment stops.
People playing with their friends have an extra set of eyes to tell them when they have gambled enough or when to leave. This isn’t the case with online gambling, as most people will do it from their laptop, computer or mobile device from the comfort of their home.
One type of betting that is popular online, is parlay betting. This is when you select many teams that play their games in close succession and bet on several different teams, and the outcome of each match.
So, if you placed a wager on soccer in the English Premier League, many of those games will kick off at around the same time on a Saturday. You could have a double bet and bet on Manchester United and Manchester City to win their respective games.
This multiplies the odds and would return more money if it were successful than a bet on each of the teams individually. Of course, the returns are better because it’s a lot harder to predict the outcome of two games, never mind multiple games at once.
The upside of gambling online cannot be understated. As we mentioned earlier, if you’re busy and on the move, being able to gamble from your phone or laptop is infinitely easier than stopping in at a betting shop.
In addition, you can now gamble from the comfort of your own home, again, from your mobile device or Laptop. This is reflected in gambling companies’ profits over the past 20 years as their meteoric rise continues.
Being able to cash out a bet while in play, is a market that was not available 20 years ago. Previously, you could only bet on the game’s outcome and wait for the game to conclude. Now you can place multiple bets during the game, and this applies to a wide range of different sports.
Ultimately, convenience is the key. As we have seen with the rise of Amazon, if a company on the internet can provide a convenient alternative to a physical premises, people will be more inclined to use it.
Gambling has benefitted from this same business model, as profit margins can be increased even further still. The business costs, such as rent, are decreased and the time spent gambling can be increased, resulting in larger profits.
It appears on the face of it, that gambling online is not only better for the customer, but it is also better for the gambling companies too. It is a relatively rare instance where convenience is increased for both the customer and the company.
Of course, personal preference also plays a part, and some people are not computer literate and would completely disagree with the sentiments in this article. People also enjoy getting out of the house and going to the casino as well as the general vibe.
This cannot be replicated in an online casino, as they are generally reliant on technology. Some people enjoy speaking to fellow gamblers and croupiers. However, we would venture to say that gambling online is better and easier.
