In the last couple of years, only a few business sectors can say they had as huge as an impact as the online gambling industry. Since it was introduced, online gambling put the whole gambling business on its head and threatened to shatter all pre-existent business models for the industry.
As of 2016, the online gambling industry generates a whopping 45 billion a year, making it one of the most lucrative sectors for online businesses. However, it’s still amazing how many people are unaware about the industry with some not viewing it as a legitimate business at all. In this article, we’re going to explore a few facts about the online gambling industry that should change your opinion of this sector forever.
Online Gambling Operates in a Grey Zone in most Parts of the World
Online gambling isn’t particularly illegal, but it isn’t perfectly legal either in most parts of the world. You can play games like bandarq online in most countries completely legally, but it is an offence to use these sorts of sites in other countries. As a matter of fact, many countries such as the United States prohibited many forms of online gambling until not too long ago. But that wasn’t limited only to online poker sites or sports betting, but completely benign sites such as Crazy Winners which offers a variety of proprietary games players can play for cash.
For this reason, many online gambling sites have to operate out of safe zones such as the Isle of Man which doesn’t have strict laws on online gambling and first nations reserves in Canada and the United States who also have their own set of legislation.
The Random Number Generator is Probably the Most Game Changing Piece of Software Introduced to the Industry
This holds especially true for online casinos, online poker rooms and online bingo games. A random number generator, or RNG for short, is a computer program that generate a series of random numbers that can be used for a number of reasons. While the applications in the world of gambling are obvious, random number generators are not limited to gambling only. Also, the importance of recreating lifelike odds for online game rooms is capital, so the development of new and better number generators is essential to the growth of the online gambling industry.
It is Still Possible to Cheat Online
Until recently, online casinos did not prohibit data mining. Data mining allows players to gather statistical information on other players en masse using specialized software. Users would usually pay for the software on a membership basis and have access to the provider’s data bank for a monthly fee.
However, some forms of cheating are simply impossible with online gambling. Card counting is one of them. Card counting is a method that is commonly used among Blackjack players who count which cards have been dealt to evaluate their chances of winning. However, this method only works when dealers do not shuffle the cards at every turn, and since random number generators usually take care of that, counting cards online is almost impossible.
There is no telling where the world of online gambling will go, but one thing is for sure, it sure isn’t showing any signs of slowing down. We can expect more and more jurisdictions to open their legislation on online gambling and offer the chance to many players to play their favourite games online.