It has been a surprise to everyone that even though the IT sector was hit severely by the recent economic downturn, the gaming sector was what provided a cushion to the industry and absorbed the shocks, enabling IT sector to once again grow. Online gambling is still doing well, even as major economies around the world are trying hard to recover from the shock of the downturn. The interesting feature is that the online casinos, which had huge player base, did not manage to lose much during the recession. Sure, there were some effects on the industry, but the recession was viewed only as a speed breaker, which temporarily slowed down the high speed at which the industry was growing.
The biggest lesson that IT can take from the online model is that these gambling sites are based on a subscription model, which means that there is no one time sales revenue. If the games are popular enough and the services of the online casino please the players, making their stay comfortable, they have loyal customers who will come back again and again. If the casino becomes a big hit, the tournaments will see higher valued pots and bigger jackpots. This gives both the players and the online casinos something to look forward to.
The online casinos are also doing another thing right. Apart from the serious professional gaming options, there are also the casual games that have a lower entry barrier and can be played by anyone who has a free account. This helps in improving the revenues because the players understand that the casinos mean serious business and that paid services will be even better than the free ones. Another place where the online casinos have nailed it on the head is where the industry gives the players whatever they want. If it is sports betting that the players enjoy, it is sports betting that they will get. If there are jackpot slots that the players want to play, the casino gives them slots.
There is a lot that the Information Technology sector can learn from online casinos. The business model is something that can be emulated.