The global online gambling industry has been gaining in popularity since the first online casino launched in 1994. Although there had been a steady growth in the industry, it wasn’t until 2005 when the gambling act was created that the industry took off at light speed. This is because of the gambling act, which allows the advertising of online casinos and legalising gambling. This act came into play in 2007, and by 2008, the UK gambling industry was over £8.36 billion.
Where We Are Now in the Online Gambling Industry?
There is simply no disputing that there has been a significant boom in the online gambling industry since the start of the COVID-19 pandemic. With this, competition between casinos became tougher, so many online casinos started creating their own niches within the industry. By doing this, they became speciality casinos drawing in players who have a penchant for particular game themes.
One such casino is RainbowSpins Casino – The Home of Irish Themed Slot Games. This online casino focuses primarily on, you guessed it, Irish-themed games. Even their landing page is very Irish, from green rolling hills, rainbows, shamrocks, and toadstools. However, it’s their collection of Irish-themed slots that’s really impressive.
At a brief glance, they have Rainbow Riches, Irish Pot Luck, Luck O`The Irish Fortune Spins, Irish Luck, and Irish Fortune, to name but a few. Games like the Rainbow Riches Casino Slot are popular because of their Irish themes, which many believe inspire good luck – or so they like to think! These slots usually have higher win rates and lucky charm symbols, such as pots of gold, coins, wells, golden horseshoes, leprechauns, shamrocks, and rainbows.
What the Future Holds for the Online Gambling Industry
The future is looking dazzling for the online gambling industry, which is currently worth approximately $72.2 billion globally. This figure is expected to reach $92.9 billion in 2023, with the UK taking a fair chunk of it. In 2021, the UK’s online gambling industry was estimated to be worth over £14 billion and growing fast, thanks to its 25 million+ gamblers.
Besides the pandemic that had everyone locked down for the better part of two years, in which many turned to online gambling as an escape, advances in technology are at the forefront of leading industry growth. These days everyone has a mobile phone, laptop or tablet that can connect to the internet, so playing online slots is just one click away.
The software used in the development of casino games has improved so much that playing on a tiny mobile phone won’t affect the game features at all. New advances in technology could see gamblers using virtual reality headsets to play casino slots sooner than we might think. While a version of this is currently in play, it’s not nearly as good as it should be… yet.
From its humble beginnings in 1994 to the billion dollars global industry where we are now, one thing is for sure, the online gambling industry is not slowing down soon. Its boom was, thanks to many influences, including the regulatory boards, and the gambling acts which legalised online gambling and approved the advertising of casinos, to online casinos creating niches in a competitive industry, and of course, technology, which improves daily.
