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How Did Gaming Become a Multi-Billion-Dollar Industry?

Author: Gambling Man
24 January 2020, 16:48
Votes: 3

The gaming industry is vast: It includes everything from classic video games to eSports to casino gaming. As a whole, the gaming industry is a multi-billion-dollar industry, with each sector now hitting a billion-dollar valuation on its own. But how did we get here? 

How Did Gaming Become a Multi-Billion-Dollar Industry?

After all, video games have been around for decades — since roughly the 1950s — and casino games have been around for centuries. And although eSports might be a relatively new concept, the first gaming tournament can be traced all the way back to Stanford University, nearly 50 years ago.

Below, we’ll delve deeper into how the gaming industry — as a whole — has become so successful in recent years.

Online Gaming

Widespread internet access is a huge reason why every sector of the gaming industry has grown so much over the last two decades. That, faster speeds and multi-device access have led to the development of far more — and better — gaming options. For casino gaming, sites like PokerStars now have a wider variety of offerings to appeal to gamers, including many poker variations and tournaments. Then there are video game sites like Ubisoft, which feature a huge selection of titles that can be downloaded instantly — No more ordering physical copies of games or having to head to the nearest GameStop. As for eSports, better internet service has led to the creation of massively-popular multiplayer games like Fortnite.

All of these new titles and ways of playing, in addition to them becoming far more accessible than they used to be, are huge reasons for the industry’s overall growth. Gaming subscription services also started to be introduced in the late 2010s, creating further expansion.

Read more: Online Gambling: Basic Conditions

Mobile Gaming

Mobile Gaming

Mobile gaming is another big reason the industry is what it is today — It is the most popular form of gaming around the world. As smartphones improved, more games were introduced, including eSports and casino games. As technology generally started to improve, these types of games became even better, which means more people started to play them.

Mobile gaming is a great fit for more casual gamers. The more people that feel included — and feel like their interests are being met — the more people will play games. So, more ways to play, in addition to a greater variety of mobile games, has really helped the industry to grow overall.

Incredible New Technologies

Over the last decade, some really incredible technologies started to hit the mainstream. In particular, virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) have all had a huge impact on gaming. VR has created more immersive games for players, allowing them a more unique gaming experience. AR, on the other hand, has offered gamers a new way to combine gaming and their environment. Remember the Pokemon Go craze?

Then there’s AI, which has led to the creation of better computer-created opponents who are now able to make quick, adaptive decisions. This has made gaming a lot more challenging, fun, and just plain interesting. It’s being used in everything from eSports villains to online poker tournaments.

Read more: Prospects for Mobile Gaming

Better Equipment and Gear

Better Equipment and Gear

In general, tech devices have improved a lot since the 2000s, and that has made gaming a lot more enjoyable on desktop computers, laptops, TVs, tablets, and smartphones. With improved storage and RAM across all of these devices, gamers can keep more physical copies of games on their devices, experience faster and smoother gameplay, and have a better cloud gaming experience.

New gear like wireless controllers, gaming mice, wireless headsets, and VR equipment has also helped to improve gaming. Besides being more enjoyable, all of this has made gaming a lot more exciting, so more people want to play.

There are many reasons behind the gaming industry’s success, but a lot of it can be tied to the surge of new technologies that started to be introduced after the turn of the century. The industry isn’t expected to slow down anytime soon, either — So expect more exciting changes to come.

As mentioned earlier, according to the global ranking, the list of the best live game providers for the sports betting industry looks in the following way.

Read more: Step into the Future of eSports: Challenges and Aspirations

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