The impact of online casinos on real casinos

Although real casinos have always been the obvious choice for many to satisfy their gambling fix, the advent of online casinos has changed the market drastically. The modern focus on technology that increases efficiency and convenience has many turning to online casinos to get their gaming and entertainment. With these developments and changes in the market, many are wondering whether online casinos are stopping people from going to real-life casinos.

As of 2012, online casino revenue was at $400 million, a 3.3% increase since 2011. Although this is still much lower than the $4.4 billion revenue that real casinos generated in 2011, keep in mind that online casinos are still a relatively recent phenomenon. The first online casino was created by Microgaming in 1995, compared to the first real casino which was built in 1638 in Venice, Italy. Considering it took over 300 years for real-world casinos to reach the point that they are at today, the revenue of online casinos is actually very impressive in light of their short life span.

The biggest benefit of online casinos is their easy accessibility. Unlike real casinos, you are free to gamble at any time from any location provided you have access to internet and a computing device. Laptop and other mobile computer owners have a wide array of game choices to choose from. Furthermore, the advent of tablet and smartphone computing makes gambling possible from literally any location. With all of these new technological advancements, it is not unreasonable to picture a future where real-life casinos become extinct and obsolete. Taking a trip to the local casino may become an inconvenience in the face of the increased ease and accessibility of online casinos.

Unfortunately, due to the relatively recent rise of online casinos, there are many legal problems that the industry has yet to resolve; online gambling is still either illegal or tightly regulated in many countries. As of right now the United Kingdom is the only country to completely embrace online gambling. Canada allows only provincial governments to operate online gambling sites, and online casinos are illegal in the majority of American states. However, with the recent push from Connecticut and Delaware to enact new online gambling regulations, it is not unlikely that other states will start legalizing and regulating online gambling. Considering the financial crunch that many countries and states are in, it is farfetched to say that some legislators will turn to regulating the world of online casinos for new revenue. Nevertheless, until the legal discrepancies of online casinos are resolved online casino revenue will not reach its full potential.

Ultimately, only time will tell whether or not the increased popularity of online casinos will seriously harm real casino businesses. The revenue generated by real casinos remains large, even in times of economic recession. But with our society's increased reliance on technology comes a change in habits. The online casino market is tapping into a a constantly shifting market and only time will tell whether or not this is a blessing or a curse.

Sources:
http://www2.canada.com/nanaimodailynews/news/story.html?id=d859cab1-242c-4522-accd-dc9089445832
http://www.usatoday.com/story/news/nation/2013/02/11/delaware-online-gambling/1910025/
http://www.gamblingcommission.gov.uk/
http://blogs.imediaconnection.com/blog/2012/11/01/does-online-gambling-help-or-hurt-the-economy/
http://www.funcasinogaming.com/gambling-world/history-origin-casinos.php
http://www.onlinecasinoking.com/online-casino-history.html