Brick and mortar casinos have been around since the 17th century and, over time, have grown not only in popularity but their ability to generate vast amounts of money. Casinos, over the years, have provided entertainment, jobs and livelihoods for people around the globe. Even governments have benefitted from the operation of casinos and other legalised gambling activities

Technological Advancements

Technological innovation has affected every industry, some negatively and others positively. For the gaming industry, technology has created numerous opportunities and, in some cases, has become a threat.

The Impact Of The Internet

As technology advanced, so did the gambling industry, slots moved from mechanical to digital. They offered more games at casino game floors and cashing out became more sophisticated. But with the inception of the internet in the early 90s came a completely different ball game. The gambling industry extended to online and people were no longer limited to bingo halls or the Vegas Strip. One could wager, win and cash out without ever leaving their house or getting out of their pyjamas.

Not only did a whole new world of gambling open up but an iGaming industry was conceived, there were eSports and sports book betting, you could even play at international casinos if your country had certain restrictions. Even if you are in Australia, you can just search for the best online casino in Ontario in the search bar and you will get over 50 results to choose from.

Now that internet access is not limited to PC, online casinos have developed sites that are optimised for mobile devices. There are also applications you can download from the app stores. All these technological advancements have reduced the need for people to go to land casinos.

Virtual Reality

Virtual Reality (VR) and Mixed Reality (MR) are both a threat and an opportunity. For those willing to embrace the technology, they can be used to attract players to their establishments by first creating a VR of the experience they would get. And for those players not interested in going to the casino, they are a new way to generate income from their online players. For those casino operators against technology they see VR as a tool that will steal their customers.

The Numbers

• As of October 2022, there were still 493 000 operating casinos worldwide, with the USA, China and the UK holding a bulk of those casinos.
• Europe’s €87.2 million generated from gambling revenue includes €50.8 from land casinos
• In the USA, land casinos generated a gambling income of $13.4 billion in 2021
• Online gambling generated a whopping $240 billion in revenue in the year 2021
• In the UK, £2.1 billion came from online gambling while land based betting made £2.8 billion.
• Casinos in Korea have noticed an increase in foot traffic from a daily average of 2500 visitors to almost 4000 visitors in the past year.

In Conclusion

We cannot deny the decline of activity in land casinos and the impact of global events from the past couple of years. It would be premature to say casinos are dying out. Brick and mortar casinos fulfil a need that online or virtual gaming can’t and that is social connection.

There is an ambiance and atmosphere on the gaming floor that you cannot replicate. The tension in a private poker room where the drinks are flowing and cigar smoke is pungent in the air. Those moments when the entire floor gathers around the roulette table because a player has been winning for the past hour. These are experiences that stay with a person and become memories.