Industry Statistics — Good News for CasinoCoin
A month ago I wrote a blog about CasinoCoin in a post-covid society, and how the world is transitioning to a cashless civilization. Today I want to give you all a light read (with plenty of pictures) while showing some statistics that really highlight just how bright the future for CasinoCoin is as we go through this transition. For this blog post, I used statistics from the UK Gambling Commission website as it was better organized than most other sources.
Let’s start with some fun facts!
- Which country gambles the most? No cheating… (looking at you XRPP)
Ready for it? And the winner is….
Australia!….though, I guess technically that’s not really winning.
2. Which gambling sector is the largest sector by gross gambling yield (GGY) between Oct 2018 — Sept 2019?
A. National Lottery
B. Remote Gambling
C. Non-remote Gambling
I always loved multiple choice in school. Made it easier to cheat off of the guy next to me…
Ok. Got your guesses locked in?
I know, I know. I promised lots of pictures and gave you a wordy jpeg, but there wasn’t a pretty graph for this one so sue me….(don’t actually sue me please).
What’s even more interesting is that Remote Gambling also took the top spot between April 2019 to March 2020 (39.9% at £5.7bn GGY) and between April 2020 — September 2020 (52.3% at £3.1bn GGY).
Note: The data for September 2020 — March 2021 hasn’t been released yet, thus the misleading drop of £5.7bn to £3.1bn from the previous period).
3. What was the most popular way to access online gambling in 2020?
A. PC
B. Laptop
C. Mobile
D. Smart TV
E. Tablet
Ready?
I feel like this is an easy one….but, at least it comes with a pretty graph!
The answer is:
C. Mobile
Moving on to our last question..
4. True or False — Land-based gamblers (people who gamble at places that require the physical presence of the player) prefer physical cash over cashless alternatives.
Not sure what to type here to fill in the space….
….Banana
Ok that should be enough space.
The answer is True!
This survey (for question 4) was conducted in early 2021 and the article provided some interesting data.
“Cash is preferred for the control it provides over both spend and privacy, but this is also linked to a cash only legacy in some gambling venues.”
“…land-based gamblers who prefer to use cashless payments said that this was due to security, the speed and ease of making payments, having a record of transactions, and limiting contact in a post-Covid world. Preference for cashless skews to younger gamblers, moderate risk gamblers and problem gamblers.”
The trend shows that with each new generation, there is a preference for cashless payments, and as the world transitions to a digital society, those “cash only venues” will either adapt or get left behind.
Final Thoughts
Let’s summarize everything above.
- Aside from Canada, Hong Kong, Singapore, and Australia — the countries that gamble the most are in Europe.
- Online gambling is the largest sector by GGY and is becoming increasingly prevalent.
- The most popular way to access online gambling is via mobile phones.
- Land-based players prefer cash over cashless alternatives.
The world moves forward.
Regardless of what the previous statistics are, the data shows that more and more people are moving towards online gambling. Which makes point 3 above all the more relevant. With the CasinoLobby xApp — casinos and players will be able to benefit from fast, cheap, and easy to use payments.
Point 4 sticks out like a sore thumb, but I see it as a positive in that this is the exact problem Casinocoin can solve. A balance will need to be struck between casinos (who normally want the players to continue playing) and the players who want to retain control by tracking their time and spending. This can easily be addressed by adding a function where players can set alerts and limits to help control their spending. This could also help problem gamblers from losing everything.
From my point of view, the gambling industry is practically begging for a solution like CSC.
— President Banana
