The growing popularity of online gambling game apps market
The online gambling game apps market holds a promising outlook for the years to come. With the advent of artificial intelligence, chatbots, robotics, the entire gaming landscape is witnessing changing colours with an increased spotlight on gambling game apps such as betting, poker, lotteries and casinos. Although gambling had been avoided due to the high amount of risk it carried, especially in monetary interests, it is being looked at from a much more lenient stance nowadays. A simple hunt on the apps store would result in several gambling apps which showcases the growing popularity of gambling games.
How is gambling game apps different from other gaming apps?
Gaming apps could be of various types. A gambling game is where multiple players interact with each other through the form of betting and based on his or her actions earns a reward or receives a penalty which is in monetary form. Unlike traditional gambling, most of the gambling gaming apps in the play store allow players to play with virtual money in the form of coins or credits which protect the players’ financial security. For risk lovers, even there exist gambling games which require real money being put on stake. Internet technology has brought rapid growth in the gamer base, downloading and playing gambling game apps, from the comfort of their homes without the need for travelling to local casinos.
Different types of gambling game apps
The promising outlook at the sizable market share of the global gambling game market has been attracting many game development studios to develop such apps. Juego Studios has also been focusing on this huge opportunity to tap into by leveraging their existing experience in creating wonderful and successful games.
The growth in demand for gambling game apps has stemmed out from a variety of different gambling games. The gambling games are based on the principles of uncertainty and probability which makes them interesting. Below are some of the most popular such apps.
Casino game apps are quite prevalent in the apps store. Without the need for travelling to a local casino, all you need to do is download the app and play casino and imagine you are in Las Vegas.
2. Horse Racing
Gone are those days when people used to flock in masses along the race tracks betting on their favourite horses. Hardly do people watch horse racing games on television thereby making mobile phone-based horse racing apps a saviour for this dying market.
Online Betting apps have become popular day by day. Several sports betting apps have been gaining popularity. Apps such as Dream 11 have become very popular especially among young cricket enthusiasts who take a great amount of enthusiasm and interest in sporting their opinions and expertise through actively betting on their favourite teams and players.
Generally, poker stands out as an interesting game and has a long history. This game is more time-intensive and thanks to gaming apps that have made poker interesting through mobile technology so that you could play at your own table.
What has made gambling game apps so popular?
According to a report by Grand View Research, the global gambling gaming app market which is at about 54 billion USD is set to grow at a CAGR of 11% by the year 2027. Here are some of the reasons for the rising popularity of gambling game apps.
1. Advancement of Technology
Advanced technology especially Blockchain, Augmented and Virtual Reality enabled applications have been creating a huge fan base worldwide. The excellent graphical capabilities and real-life like environments have grabbed the online gamers attention like never before.
2. Convenient regulatory environment
Playing poker, betting and other forms of online gambling games have become more acceptable in societies than what it used to be earlier. States in India such as Sikkim and Goa have already legalized certain gambling games and this is definitely good news for those whose favourite pastime had always been gambling.
3. Mobile Phone Penetration
With an undoubtable share of penetration, mobile technology has been instrumental in fueling the growth in demand for online gambling game apps that can be played at the comfort of your home and avoid public places.
4. Digital Money
One important reason for the increasing popularity of online gambling games is due to the cashless mode of payments mostly either aided through virtual money in the form of coins or credits or else real money that can be electronically transferred.
Related to the above but somewhat different is the advent of cryptocurrency such as bitcoins. Such currency has fueled the growth of online gambling platforms. Cryptocurrency is even being considered to be a driving factor in shaping up the future prospects of the online gambling game marketplace.
6. Increased Consumer Spending
Consumerization has got a whole new meaning in present times. More of the customers have come into higher income brackets. A significant amount of their earnings are often spent on gaming and entertainment. This has been also crucial in driving greater popularity of various online games such as poker or rummy and taking part in risk-taking activities where you can put money on stake and not carry a lot of worry about losing all your fortune in just a single game.
Game development companies have been now emphasizing on gambling games as well as the traditional games they used to develop. A plethora of incumbent game development studios is coming up with interesting online gambling value propositions to watch out for as this niche is expected to grow rapidly. Indigenous game studios such as Juego Studios have a gamut of experience in game development and when it comes to developing a gambling game, it is not only the look and feel of it that matters. A lot of factors such as the ease of loading money or carrying out a transaction also largely determines the success of the gambling game. It is a good idea to watch out for these nitty-gritties while hiring a game development firm for your requirements.