When you think of Wales, the topic of casinos might not spring to mind. Although Wales is a fan of online and land-based gambling, so is the rest of the UK. In the United Kingdom, the industry has boomed in the past decade, with the sector valued at more than £14 billion. Of that figure, 37% is a direct revenue stream of online markets. However, other than a few traditional establishments in big cities across the principality, nothing brings the two together. That is until you consider the relationship between Welsh businesses and digital casinos. They are more alike than you might imagine, and here’s why.
On the whole, the futures of Welsh business and online casinos are very bright. As many will know, the remote gambling market is valuable, and it’s only set to rise further by 2025 to around $100bn thanks to the popularity of games such as bingo. Not only can users play from the comfort of their homes, but the casinos use rollovers to make the prospect of playing more enticing. For example, jackpot bingo at Betfair uses progressive jackpots that scale up when a prize isn’t claimed. Similarly, Insider Media reports that the top 300 Welsh businesses enjoyed an 8.7% rise in turnover in 2020 from 2019. Like digital casinos, the companies leverage their products and services to climb the corporate ladder quickly.
Video technology has taken over as the king of content, and online casinos and Welsh businesses are both leveraging it to their benefit. From a digital gambling perspective, video streaming has allowed online casinos to recreate the experience of a land-based establishment. Dealers can oversee games of blackjack and roulette which are streamed to the player’s device. These features offer an authentic experience that helps to level-up remote products and solutions. Live streaming and cutting edge video technology is something which is also important to the local economy in Wales. For example, Tantrwm in Aberdare have grown their video production and marketing portfolio to include live streaming for corporate events and sports. This ability to change alongside developments in technology is crucial to the ongoing success of Welsh business.
Cryptocurrencies are gaining traction because lots of organisations are willing to accept them as regular payment options. Online casinos have been at the forefront of this trend of being accepting of less-traditional payment methods, such as e-wallets and pre-paid debit cards for a while now and Welsh businesses are taking this further, too. Based in Cardiff, Coincover has partnered with ELM Legal Services to provide the UK’s first “crypto wills” so that people with Bitcoin or Ethereum, for example, can pass it down to their loved ones through the generations. Both are adding cryptocurrencies to their business plans in very different ways.
Although it is hard to see on the surface, Welsh companies and online casinos share many similarities, from their use of digital payment methods to the fact both markets are thriving right now.