The last ten years have seen significant leaps in the gaming industry. With the development of technology – especially mobile devices – gaming has become more and more a part of people’s everyday lives. An unlimited number of experiential games run in almost everyone’s pocket from morning to night.
The growing popularity of the gaming industry is not only based on technological developments, but also on the development of games, more and more accounts have been taken of storytelling factors. Today’s games are extensive scripts, just like any high-end 4K TV series or movie. The difference with series or movies is that in games, the entertainment consumer, i.e. the player, often gets to create a number of different options for the story to progress. In this case, the passive reception of the story becomes participatory to the creation of the story.
Where games and gaming have become better and more diverse from a user perspective, the structures of the industry have also become more professional.
Games at the top of the entertainment business
The gaming industry has been growing rapidly around the world in recent years. In 2018, the total gaming market grew by more than ten percent, generating a total of about $ 135 billion. This is about twice as much as the film and music industry produced last year combined.
For individual giants, total budgets are already close to the budgets of the most expensive Hollywood movies. Let’s talk about the stakes of hundreds of millions on the biggest games. The technical and graphic making of games alone often binds hundreds of professionals to projects for years. However, the stakes are bearing fruit for many hit games, with revenues rising to billions of dollars. Where the return on games was previously tied to a one-time purchase of the game itself, significant returns are now made in continuous, in-game micro-transactions. For example, in the case of the popular Fortnite game, player purchases were made last year for $ 2.4 billion.
From hobbies to lucrative professional sports
Could you have imagined a few years ago that young people playing computer games can be found at the top of the tax statistics and by playing games you get an invitation to a castle party? Few of us believed in this until a few years ago, but developments in the gaming industry have made this fact possible.
Professional and athleticism has grown tremendously in computer and console gaming. Comprehensive professional leagues have been built around the most popular games, competing for the kings of the games like in any well-known sport. In financial terms, any hobby is not about e-sports. The largest total prize pools in the esports leagues are astronomical. For example, the annual prize pool for Fortnite in the 2019 tournaments totals $ 100,000,000. In the main event of the season, the winner will receive a $ 3,000,000 prize check.
Huge increase in the popularity of gambling
Gambling has also seen rapid growth over the last ten years. And growth does not seem to be coming to an end, as online gambling, or the gaming industry, is forecast to double by 2024.
There are several reasons for the growing popularity of gambling. Firstly, the industry has developed enormously in recent years and consumers have a wide choice of quality online casinos to choose from. The largest casinos have up to thousands of different games to offer, from which even the most demanding players will find their favorite alternatives.
In addition, online casinos have become more prevalent in live games, blurring the boundaries between a traditional stone-foot casino and a virtual casino. Popular table games – such as blackjack, roulette and andar bahar for real money – can be played with a real dealer from your own home couch at most new online casinos.
The development of mobile technology and its application is also strongly visible in the gaming industry. A significant proportion of gambling games today are played on mobile devices, so the games are always within the reach of enthusiasts. Many online casinos even have their own mobile applications, so a few quick rounds of slot games can be spun in the Grocery Store queue, for example.
Like the gaming industry in general, gambling has evolved into an even more entertaining form and collaborations with various brands and well-known parties are common. In the field of music, for example, there are several slot games built around a well-known band. Guns N ’Roses and KISS slot machines, among others, have become hugely popular. Well-known movies and TV series have also been widely translated into gambling. Friends of Games of Thrones, among others, can thrill the wins by immersing themselves in the theme of the series.