The online gambling industry has exploded in recent years, posing a growing threat to location-based casinos. As more bettors choose to play casino games on the platforms like Casino770 France from the comfort of their homes, traditional gambling venues are struggling to keep up.
Key Stats on the Rising Online Gambling Industry
- The global online gambling market is projected to reach $127.3 billion by 2027, growing at a CAGR of 11.9% from 2020 to 2027 (Grand View Research)
- In 2021, the online casino segment accounted for the greatest market share at $71.4 billion worldwide, making up nearly half of the total online gambling market (Mordor Intelligence)
This astronomical growth demonstrates how online betting sites continue to siphon gamblers away from physical casinos. With advantages like convenience, bigger bonuses, and wider game variety, virtual platforms offer an appealing alternative to traditional establishments.
Declining Revenue and Foot Traffic for Standard Casinos
As more people bet online, land-based casinos are losing not only revenue but also in-person patrons:
- Total revenue for standard casinos in the U.S. dropped 31% from $43.65 billion in 2019 down to $30.05 billion in 2020 (Statista)
- From 2014 to 2021, foot traffic for casinos declined by a staggering 62%, according to Placer.ai’s data
The COVID-19 pandemic dealt a harsh blow but the downward trend in physical casino engagement predating lockdowns proves they face escalating long-term issues competing with digital competitors.
Notable U.S. Casino Revenue Losses
| 2019 Revenue | 2020 Revenue | Decline | |
| Caesars Entertainment | $9.57 billion | $5.10 billion | 47% |
| MGM Resorts International | $12.90 billion | $5.16 billion | 60% |
| Wynn Resorts | $6.61 billion | $2.10 billion | 68% |
Caesars, MGM, Wynn – even the biggest names in Slots peak resorts witness extreme revenue drops as gamblers move online. Their grand venues lose appeal compared to online sites, where you can play everywhere from your couch to a coffee shop.
How Online Casino Sites Attract Gamblers
Virtual betting platforms entice customers away from traditional casinos through advantages like:
- Endless variety – Top online casinos offer 3,000+ slot titles, hundreds of table games, and niche genres like bingo, keno, and more under one account. Local gambling venues can’t compete with thousands of options at your fingertips.
- Big upfront bonuses – Standard casinos may provide hotel suites, free drinks, or entertainment to high rollers. But all players on digital platforms can claim signup and deposit bonuses up to $5,000 in casino credit. These incentives offset the risks of gambling losses.
- Convenience factor – With 24/7 access on mobile devices, e-casinos let you play anytime, anywhere instead of driving to a physical building. Gamblers can enjoy their favorite games during spare moments of downtime.
- Higher payouts – Online slots, blackjack, and roulette pay back a higher percentage to players over time. For popular games like online slots, the average RTP hovers between 95-98% compared to 80-90% on location-based slots.
Using bonuses and odds in their favor, more casino enthusiasts choose to play – and win – in virtual environments. This continues squeezing revenue streams for traditional establishments relying on in-person visits.
Can Brick-and-Mortar Venues Adapt to New Digital Landscape?
Classic casinos hold an undeniable nostalgic magic as glitzy adult playgrounds. Yet clearly, consumer habits drift irrevocably into the digital age, increasingly won over by online gambling and its practical perks.
For household names like MGM and Caesars to survive, they may require transforming business models, such as:
- Offering competitive signup/deposit bonuses more in line with digital competitors
- Running hybrid physical and online platforms for those wanting atmosphere plus remote play
- Adding more dining, bars, and shows enables non-gambler revenue
- Leveraging loyalty programs to incentivize in-person visits
Ultimately, casinos must adapt quickly to new consumer behaviors, or else land-based institutions eventually go the way of Blockbuster video. Virtual casinos provide too accessible, and rewarding of an alternative, gamblers feel no reason to make a dedicated trip to swing by tables and machines in person.
Leave a Reply