2nd December 2019
There was a time when gambling was such an addictive activity that it drew out the young and the old alike with dreams of making a million bucks in under half an hour. Well, gambling still holds the same kind of charm. The only difference between then and now is that now people don’t actually need to step out of the comfort of their house to indulge in their gambling fantasies.
Online casinos offer a very attractive alternative to the land-based casinos as you don’t have to actually travel to the casino but rather just log in to one from your device at any time and from any corner of the world and play slots online.
With the legalization of online casinos and the recent spate of regularization of the activities of an online casino, the focus has been shifting more and more towards developing the online form of gambling. On the other hand, there have been reports of several land-based casinos running into losses and shutting shops. Does that mean that the land-based casinos are soon going to go out of business? And are the online casinos responsible for this sudden shift in consumer preferences?
The answer is both yes and no. It is true that land-based casinos have had to bear a major cut in their profits due to the emergence of online casinos. The millennials, in particular, are extremely tech-savvy and more comfortable with doing things online right from shopping to learning a new language to researching for a paper. This has greatly favored the online casinos over the land-based ones.
The land-based casinos have been relegated to being the haunts of the older generation which still feels that nothing can compare with the thrill of being physically present and gambling in a casino. This is why many casinos have suffered losses and seen their business decline.
However, many casino owners have tried to buffer their losses by entering into the online casino business themselves. The market answers the demand of the consumers with supply and that is exactly what is happening in the world of gambling too.
Considering the fact that the young generation does not have the same propensity for gambling as the older generation does and because they look towards online casinos as a time-saving venture, most casinos have launched online versions of their gambling dens.
The land-based casinos are still up and running for now and are still making profits though at much-reduced rates. This is not the end for the land-based casinos but it may as well be the beginning of the end.