The big wins in the casino and online gambling industry, including the rise in revenue, the closure of gambling sites, the reduction in risk and the growth of online gambling, have all contributed to the boom.
The big winners are: casino operators like MGM Resorts International, Wynn Resorts and Caesars Entertainment have all seen their revenues increase in the last two years, while online gambling sites such as Betfair and online casinos such as the ones at Coinstar and CyberArk have seen their prices fall.
“I think we’re seeing a lot of growth in the online casino sector,” said Jim Larkin, managing director at online gambling firm Betfair.
“People are looking for something different, they’re looking for a game that they can be part of.”
He says there’s been a huge increase in gamblers on the Internet, as they’re increasingly willing to take risk and use other platforms.
“The online gambling market has exploded,” Mr Larkin said.
“It’s gone from nothing to almost $600 million in just two years.”
Casinos and online gamblers were also able to take advantage of lower deposit fees, which are a fraction of what they were in the past, when they had to pay more.
“We see a lot more people going online now than ever before,” Mr Longo said.
The rise in online gambling revenue also helped boost the gaming industry as more people were playing online and were paying for it, he said.
Online gambling is still one of the big reasons for the boom, but the boom is also bringing other benefits.
“When people start to play online they’re spending more money, and they’re also spending more time with friends and family,” Mr Stroud said.
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