Denmark Shows Increased Q1 Online Casino Revenue
The numbers are in for Denmark’s first quarter of online gambling revenue in 2017, and the numbers are mixed in comparison to the same time last year. Spillemyndigheden is the regulatory agency for Denmark and its reports that $78 million came from online gambling revenue generated by sports betting, a number that is a slight decrease from what was reported in 2016.
General statistics in sports betting remain at a flat level in Denmark, at about $802 million from all areas of the industry. About half of this revenue came from online gambling sites through mobile devices, and another 25 percent or so being reported from transactions through players’ computers. The remaining portion of the sports betting was from retail deposits. Oddly enough, the land-based venues included in these number stated that 54 percent of all the total revenue came from in-house betting by individuals.
One interesting trend that was observed from the first quarter report is the increased revenue that came from every online casino listing its sales in Denmark. In fact, based on numbers from 2016 the revenue generated by online casinos grew by 10 percent to a total of around $61 million. On the other end, the income reported by land-based casinos decreased by 2.5 percent to $55 million for the fiscal period that ended on March 31st.
Though this particular set of numbers from Denmark is mixed, it is beginning to show the growing trend of players shying away from land-based casinos and instead choosing to play at online casinos that offer the same games. The same results throughout Europe are becoming more apparent, as countries adapt to more lenient regulations concerning online gambling and license more offshore casino providers. As technology for gaming continues to evolve, the global shift towards the online casino is slated to become more mainstream than ever before.
Why Are Online Casinos Gaining Market Share?
Online casinos, unlike their land-based counterparts, offer convenience above all else. The online casino platform was originally designed as a pioneering alternative to visiting a physical casino, but in the past two decades, this industry has exploded. Instead of incurring the expenses associated with traveling, lodging, and other accommodations, players can now boot up a personal computer and play at a casino from home. Even more recently, online casinos have optimized their content for mobile devices, and now any individual can play games on a phone or tablet. Though the allure of a land-based casino still exists, the more financially responsible player is likely to opt for the cost-effective alternative.
The promotional benefits of using online casinos sometimes go far beyond what any traditional casino can offer, especially now that these sites realize how bonuses directly relate to player retention above anything else. For example, a player who signs up at an online casino will almost always have access to a welcome bonus. The bonus is typically offered as one lump sum, or it can be split up into multiple deposits. Any time spent at a land-based casino is going to be limited, and the promotions offered will be limited as well. However, at an online casino, the player has the luxury of taking their time in meeting wagering requirements or waiting for the next bonus offer to be released.
A few decades ago, it would have been unthinkable for an internet program to offer the same types of games that a player can find at a land-based casino. Technology, especially with gaming, has proven otherwise and now the online casino platform is more diverse than ever before. Slot machines on casino floors have now been accurately replicated in a web-based format, with the same appearance, sounds, and gameplay features that players are familiar with. While any land-based casino can offer dozens of different slots, online casinos sometimes now have more than 300 or 400 different slot games to try out.
The addition of table and card games has just made the case stronger for the online casino. Players can now access games like blackjack and roulette from an online format instead of worrying about traveling to a casino. Also, it’s not just about the traditional single-player online games anymore. Many online casinos now offer a live dealer format of games, which makes the experience incredibly realistic. With all games in this format, players can also take their time in learning how each game functions instead of being exposed to the pressure and stress of a real casino floor.
Player advocacy is often overlooked when it comes to casinos, and there have always been horror stories of individuals losing everything because they developed a gambling addiction and were constantly harassed by casino management. With the addition of online casinos to the industry, the player now has an unprecedented freedom of choice. There are currently over 800 different online casinos in existence, and while not all may be available in a player’s country, the hundreds of options provided make it easier to find a destination that serves the player’s needs first. The tools available to moderate one’s gambling are invaluable, and the degree of separation from casino representatives gives the individual more control over their playing habits.
Banking options at online casinos have stayed relevant to current times and offer players a much easier way to deposit and withdraw their funds. With any land-based casino, the added step of converting currency is a hurdle, and the individual might run into extra fees for the exchange. At an online casino, the player can bank with the currency of their choice and avoid unwanted fees because of the service providers that work with the sites. Of course, there is the known threat of identity theft on the internet, but online casinos have successfully prevented this with secure digital encryption.
A Shifting Market is Better for the Player
As the global economy recognizes the growing revenue from online casinos, the individual will ultimately benefit from having more choices and better options whenever they decide to play on the internet. Denmark’s surprising reports are only a fraction of the shifting trends in the market, and more providers will seek out prospective players by offering more content and better deals. In the end, online casino players are going to have more comprehensive gaming selections, better promotions, and unrivaled convenience as more money is invested into the growth of this lucrative industry.