Gambling has been around for a long time, with the first instance of it dating all the way back to the 1400s. Since then, there have been many developments within the world of gambling, with one of the most significant changes arriving in 1995 when online casinos first made their appearance. Since then, online gambling has become more and more popular, launching the careers of a number of entrepreneurs as a result.
Why Is Online Gambling Such a Profitable Business?
If online gambling has launched so many careers then it’s clearly a profitable business. Why is that? There are a number of different reasons why players love to head over to online casinos. Firstly, we live in a more remote world now so having access to casino games from your own home is a plus. There is also a huge range of different gambling sites available and with this choice comes great deals that people love to take advantage of.
Everybody loves a bargain, so it’s perhaps no surprise that this competitive sector is out there capitalizing on this with the relentless production of online gambling promotions. Not only that but thanks to sites such as BonusFinder Canada, it has never been easier to find these promotions. Online directories review and rank online casinos such as Wildz Casino, Lucky Days, and Jackpot City based on numerous factors including the range of their payment methods, the average customer reviews and, of course, the diversity of their promotions and offers. With players seeking value for money, directories are a great source of objective comparison.
Evidently, casinos are big business. With signs of ascension in recent years and even more profit/success on the cards over the next decade, according to the forecasts, it’s perhaps no surprise that so many entrepreneurs want to be a part of this sector.
It could be argued that one of the most famous casino entrepreneurs in the world is Isai Scheinberg. This is the man responsible for PokerStars, one of the most prolific online casino sites. Scheinberg managed to grow his company from its humble beginnings all the way to being a multi-million-dollar franchise. Scheinberg sold his shares in the company in 2014 and now spends his time consulting with IBM, helping out by providing his expertise on whatever technical matters they might encounter.
Born back in 1967 in San Francisco, Ruth Parasol is a self-made woman who has achieved a lot with her life but is probably best known as the founder of PartyGaming back in the early days of online gambling in 1997. Even after a merger with Bwin Interactive in 2010, Ruth remains the largest single shareholder in the company and has assets that are valued at around £780 million.
Noel Hayden has a net worth that is estimated to be around £213 million. He managed to make the majority of his fortune by acting as a serial investor throughout the tech world. He co-founded the online gambling site Gamesys, which is currently one of the biggest sites in the online gambling industry. Using not just his money but his wide knowledge of tech, Hayden was capable of bringing some classic games to the public.
The Profitability of Online Gambling
Online gambling is an incredibly profitable market. There are a few different reasons for this, including the convenience that it comes with, the deals there are to be had and the ease at which they can be found. Personifications of such profitability come in the form of the above entrepreneurs, Isai Scheinberg, Ruth Parasol, and Noel Hayden, all of whom have managed to make a good name for themselves in the world of online gambling.