July 1, 2022

The Queens County Citizen

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The Gaming Industry and the Effects of its Cashless Strategy

The shift to a more cashless society

Many people will have realized their dependency on cash payments has decreased significantly particularly in the last 10 years. As people consume more online, use their credit/debit cards more, and adopt mobile and electronic payment services, cash begins to take a back seat. While there are several pros and cons to this, many industries are using this shift to their advantage and are seeing enormous growth. The gaming industry in particular is an example that has seen huge success as a result.

The gaming industry is reaching the next level thanks to its cashless strategy

One of the major industry drivers for mobile gaming has been online gambling. More people are choosing instead to play online and choose an online casino in Canada rather than head to a physical casino, which only adds to reasons for why the industry is becoming ever more cashless. With online providers such as JackpotCity offering hundreds of games to suit all players, it is no surprise to see the increase in popularity of this sector. The ease of use that these companies provide has meant that more and more new players decide to try them out, eventually becoming loyal customers. But it’s not just the casinos that are trailing behind when it comes to entertainment, even the likes of box office and recorded music are no match for the beast that is online gaming.

Another way in which technology has advanced has been by aiming for convenience. By being easier to access, the consumer doesn’t even need to leave the comfort of their home, draw cash out from the ATM, and purchase a game from a physical store, they can do it all online with a cashless payment.

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Previous generations sought gaming entertainment through arcades, or they had the Nintendo 64, maybe some even look as far back as the ’70s at one of the first mainstream gaming consoles like Atari. But today, PC gaming and console gaming which previously required discs to play, now offer incredible digital download-only systems which are very common in households across Canada and the rest of the world.

Perhaps even more common in households than gaming PCs and consoles, are mobile phones and in the year 2021, it will be hard to find a household that doesn’t have apps on their mobile phone, never mind have one at all. Entertainment on mobile has grown from playing Snake or Tetris to becoming a hub for all our social media, video, and gaming interests. All this has steered mobile to the top of the online gaming industry taking 45% of the market, totaling around $68.5 billion (2019).

Being entertained has never come easier

Finding ways to stay entertained and relax at home has never been easier. As the access to the internet and growth in cashless payments continues, all you need to do is open up your laptop or mobile and you are moments away from fun. And the form of entertainment that millions of people around the globe chose as their number one source is online gaming. Whether it be through mobile, gaming PC, or console, it has never been easier to download any kind of game from jackpot slots to eSports games and begin playing instantly.

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