It’s undeniable that the global online gambling market has seen unprecedented growth over the past few years. According to a recent report, the industry was projected to double in size between 2019 and 2024, jumping from $46 billion to $94 billion.
This rapid growth of online gambling can largely be attributed to several factors including but not limited to convenience, game versatility, and enticing promotions.
And talking about promotions, the creativity of online casinos in rewarding new and existing players have revolutionized online gambling within a short span of years. Curiously, the number of male gamblers taking advantage of the no deposit bonus continues to grow compared to their female counterparts. This despite the number of female players continuing to grow over the day.
In this article, we are going to delve deeper into the online gambling demographics and establish why there is a growing preference for no deposit bonuses amongst males gamblers compared to their female peers.
Brief Background of Online Casino No Deposit Bonuses
Online casinos trace roots in the mid-90s when the internet was commercially taking off, which triggered a massive exodus of land-based casinos into the virtual world. Between 1996 and 1997, the number of online casinos had grown from 50 to a whopping 200.
As time went by, the competition started heating up, which compelled online casinos to develop better welcome bonuses and loyalty programs to get players bashing (the proverbial) ‘digital door’. Initially, the bonuses started off as small match bonuses, loyalty bonuses, and free spins. Then came what is commonly referred to as the online casino golden age between 2000 and 2010. It is during this period that these small and inconsequential bonuses evolved into no deposit cash bonuses, no deposit free spins, and free play bonuses.
Today, it’s almost impossible to find an online casino that doesn’t offer some form of a no deposit bonus. Usually, the no deposit bonus comes in the form of free spins, free cash, timed bonus, and bonus codes.
Find a more detailed explanation of the types of online casino deposit bonuses here.
How Does an Online Casino No Deposit Bonus Work?
The no deposit bonuses are founded on a very basic principle– players are required to subscribe to the offer by creating an account with the casino and receive the bonus in return. To cash out the winnings, however, they must satisfy the offer’s wagering requirements.
For example, if you receive a $100 bonus with a wagering requirement of 10x, you are required to spend at least $1000.
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Online Gambling Demographics
According to a 2016 world gambling report, it is estimated that 26% or 1.6 billion of the global population engage in gambling, with 4.2 billion people gambling at least once per year. In terms of online gambling, a study conducted by the UK Gambling Commission concluded that 17% of the UK population engage in online gambling, generating approximately £5.3 billion in annual revenues. Of this number, 17% were males and 9% females.
In the US, 3% of the 4.2 billion regular gamblers engage in online gambling, although this number has possibly doubled if the $306.5 billion revenue from the US gambling market is anything to go by. In terms of sexes, the report shows that 66% of men engage in some form of gambling, with women following closely at 59%.
The high number of men participating in gambling can be attributed to men’s personality traits, as they tend to be more hedonistic compared to women. As result, they are more inclined to take greater risks and proudly brag about it.
Other experts have also noted that biological differences between the two sexes also play a role in determining who engages in gambling more. Multiple pieces of research have shown that men are more impulsive, meaning they wait less time to palace bet even when odds are dropping.
In Sweden, however, the story is a little different. A 2019 gambling addiction study revealed that more women in the country were battling gambling addiction compared to men.
What Do Men Wager On Compared To Women?
Generally, research has shown that women are more likely to engage in luck-based, low-risk games. On the other hand, men are more drawn to strategy-oriented games as they have more favorable odds.
True to this, online bingo has been rated as the most popular game among women players, although statistics show they’re slowly developing an appetite for the competitive side of online gambling such as sports betting. Unsurprisingly, male players have been shown to express interest in Roulette and Blackjack.
When it comes to slots, this trend is reversed, as multiple research reports have shown more women players are playing the game compared to men.
Very few industries in the world today can match the sheer drive and growth of online gambling. New online gambling sites keep emerging every day, bringing along a streak of innovative bonus and promotion products. And with gambling authorities around the world creating new laws to effectively regulate the industry, new markets will continue to emerge. As such, online casinos will continue to innovate new products to attract new customers. In the meantime, punters (whether male or female) will continue enjoying the benefits that come with no deposit bonuses while it lasts. After all, no one knows what the online gambling industry has up its sleeves.