Millions of people all over the world play casino games, for real money and socially. The two are similar, but there are significant differences between them.
People have been playing card games and other games of chance for many centuries. These games can be played for fun or for real money. If you enjoy playing them for real money, you have probably been to a casino at least once in your life. There are quite a lot of online casinos and this is a great source that’ll help you distinguish the good from the average.
Pros and Cons of Real Money Gambling
You may be playing the very same casino game, but whether you’re playing for really money or just for fun, socially, can make a big difference. We’ll start by looking at the advantages of real money gambling:
– You can win money – This one is quite obvious and it is the main reason why people gamble;
– It is a lot more exciting – If you enjoy playing a game, it is certain that you’ll enjoy it more if you could win a lot money;
– You become more competitive – Earning money is probably the best incentive and playing real money casino games will teach you to take things seriously and always try to be the best at everything that you do.
It wouldn’t be fair and objective not to mention the downsides of real money gambling, so here they are:
– You can lose money – Again, quite obvious, that is the cost of having an opportunity to win money;
– The social element is lost – Real money gambling is too competitive and it isn’t always very friendly. Let’s face it, you wouldn’t want to chit-chat with someone who is taking your money;
– Highly regulated and restrictive – Different countries have different laws regarding gambling, and residents of certain states and countries aren’t legally allowed to engage in real money gambling.
Pros and Cons of Social Gambling
Social gambling became quite popular recently and there are numerous social gambling apps which can be downloaded for free. Social gambling too has its advantages:
– You don’t have to spend money – Since it’s social and just for free, you won’t have to reach in your pocket;
– It is casual – If you’re looking for a way to relax social gambling is a lot better than real money gambling, as the former is quite casual and friendly;
– Gain experience – Social gambling is a great practice for real money gambling. It is always good to learn how to play the games without risking any money.
However, social gambling also has its negative aspects:
– You can’t win any actual money – Sure, 1 million dollar worth of chips sounds great, but it’s not actual dollars, just like Monopoly money isn’t real money;
– You can spend money – Even though you can’t win any real money, you can still spend your hard-earned if you make in-game purchases;
– Not as exciting – Playing social casino games with friends or people you just met is fun, but it is not as nearly as exciting as actual real money gambling.
Both Are Growing and Profitable Industries
We’ve seen the pros and cons of social and real money gambling and we’ve seen that the two markets are different. But in many ways, they are very similar. Both are on the rise and the number of players, games, operators, apps is constantly increased. The increased revenues, are perhaps an even stronger indicator. The gross gambling yield in the UK alone is £12.6 billion.
Sure, we all know that real money gambling yields revenues and profits. But the same is true of social gambling as well. In the past it was just a way for operators to promote gambling and to engage a larger number of people. Particularly in countries where online gambling was not allowed, but a legalisation was expected.
Statistics show that social gambling is also a very profitable business. Last year, social gambling generated $3.5 billion. It is expected the industry to grow by $1 billion by 2017, which is an unprecedented growth. You will probably be surprised when we tell you that the social gambling branch of one of the leading industry brands is generating more revenues that its real money gambling branch.
Real money and social gambling are actually quite connected and complement each other. Many people who play social casino games also play real money games and vice-versa.