Gambling products come with implied promises of big returns on wagers, yet responsible gaming sites institute features aimed at preventing gambling addiction. After all, if actors in the global gaming industry had not adhered to such regulatory requirements, online gambling would not have attained the growth it has achieved, and will continue to achieve, despite the economic crisis wrought by the COVID-19 pandemic.
Factors that Drive Growth in the Global Online Gambling Business
In 2019, the size of the global online gambling market reached a value of USD 53.7 billion and is expected to experience growth at a compound annual growth of 11.5% from 2020 up to the 2027.
Widespread cultural approval and legalization initiatives, as well as the introduction of cost-efficient mobile applications, continue to fuel the global growth of the online gambling industry. In fact, growth occurs even in jurisdictions like Indonesia, where Islamic laws dominating an entire nation comprising diverse religious beliefs, impose a ban on gambling activities.
High Internet penetration and affordability of smartphones have enabled nascent Asian online casinos to offer gambling products across borders. Aggregation platforms made it possible for European igaming companies to efficiently deliver their video slots and casino table games to Asian customers.
Such factors must all work toward trustworthiness, because it is the most important element that will promote and sustain growth in the online gambling market. Mainly because online and mobile gambling customers are inclined to stake real money wagers only in gambling sites that actually pay winnings.
The Promise of Multi Million Winnings from Progressive Jackpot Slots
Many online gamblers worldwide pin their hopes on winning huge jackpot prizes at stake in online slots that open up opportunities to win progressive jackpots offered by major igaming companies.
Microgaming as an example, offers two kinds of progressive jackpot: Mega Moolah and The Dark Knight The Mega Moolah has a higher prize since several Microgaming online slots participate in the random generation of combination that will trigger the release of the jackpot money.
Only recently and while nations across the globe were going through a lockdown period, Microgamingâs Mega Moolah Progressive Jackpot was won on three consecutive occasions in just a short span of time.
The first was the Mega Moolah jackpot won by a Canadian in April 05, 2020, valued at CA$16.4 million. Afterwhich, the jackpot seed money restarted at US$4 million, and progressively grew to US$10.8 million when it was won again in May 08, 2020. This time by an online gambling customer from New Zealand, who collected an equivalent Mega Moolah Jackpot of NZ$ 13.6 million. Shortly after the jackpot seed money was reset, another lucky Canadain gambler won CA$9.9 million.
Indonesian online casino gamblers can also hope to win a mega jackpot prize by playing at online casinos that include Microgaming video slots in their offerings. One such casino is VSLOTS888, where customers can choose a Microgaming slot online carrying the Mega Moolah or Dark Knight Progressive Jackpot feature.