There is money to be made

By: Submissions

Online gaming is a booming industry. In 2016, the value of the global entertainment and media market was valued at over $1.8 trillion. Out of that 10% of the value is generated from online gaming across the globe. We’ve had a look at some highlights and most popular gaming brands that lead to this remarkable figure.

App based poker game, iPoker is not as popular as the real thing, but benefited to generate over $37 billion in yearly sales for the global mobile gaming market. The popularity of large screen smartphones, which cater to high-end mobile games, has possibly had a knock-on effect on the spending on tablet games, consoles and PC. The unimaginable rise of Pokemon Go led to it being the fastest game to ever generate$500 million in only 60 days. Arnold Schwarzenegger has endorsed Mobile Strike – an app that generates over $1.5 million in revenue every single day. This unbelievable feat comes from sales, in app purchases and global sponsorship deals.
 
Microtransactions is a business model where users can purchase virtual goods via micropayments. Microtransactions are often used in free-to-play games to provide a revenue source for the developers. Free-to-play games that include a microtransaction model are sometimes referred to as "freemium.” League of Legends is a remarkable fantasy game that connects millions of people from around the world. This year their holding companyRiot Games has made over a whopping $1 billion in so called microtransaction sales.
 
Casino games like online poker generate billions in rake games (when the casino keeps a percentage of every pot at every table) and large tournaments. There are billions of dollars spent on online casino games worldwide. For some, 2016 was not all that great;Borgata Poker lost over 22% of its valuation, and so did Ceasars Casino who lost over 30% over the last financial year.
 
People who play regular bingo has slowed in the last few years, as the adoption of online bingo and in particular mobile bingo and the adoption of tablets by many of the target demographic of most bingo providers. The world of online bingo is gleaming with an array of games for international users to play wherever, whenever, including a firm favorite of oursFabulous bingo. This is largely due to how easy it is for bingo to be played almost passively as people look to relax and dual screen with the television on and play bingo on their laptop or tablet.
 
Spending on video game hardware, software, and accessories has been slightly stagnant, with a mere one-percent growth in the last year, but total hardware spending fell six percent, to $178 million. EA Sport’s FIFA 17 added its Ultimate Team platform, that allows users to swap and share players, buy packs of digital players logos, stadiums and even boots. This helps EA Gaming generate over $35 million from add-ons, making it almost the best performing console game, behind Battlefield 1. American football console game Madden 17 has a very similar business model to the FIFA brand.
 
Gaming is a very lucrative business, that is, if you can code and sell to millions of people around the world.

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