Crowdfunding is an emerging business practice that is gaining traction quickly among start-ups in a wide range of industries. While we have yet to see it take off in the gambling market, a new report by Clarion Events and GamCrowd suggests that more online gaming start-ups will begin looking to crowdfunding to get their businesses off the ground.
According to the report, crowdfunding is worth $10 billion worldwide. $700 million of that total comes from equity crowdfunding. The market is growing rapidly, and there is the potential for crowdfunding to become a game-changer in the gambling world.
“As an early adopter of new digital concepts, processes and technologies, the gambling industry is perfectly placed to benefit from the introduction of crowd platforms and services,” says Chris North, CEO of GamCrowd.
The online gambling market relies on a steady stream of new innovations in order to keep players interested. As such, it is important for operators, designers and other industry entities to invest in new ideas regularly. Crowdfunding makes this possible, and it benefits the entire market as a whole.
“The crowd has a huge part to play in the future of our industry, particularly when it comes to fostering innovation and supporting start-ups,” says Nick Hares of Clarion Events.
At OnlinePokies4U, we certainly support this stance. We enjoy seeing new and exciting innovations in the online pokie market, and it is important for industry professionals to gain support in order to continue developing new games and features. Crowdfunding seems to be one of the most effective ways of making this happen. Gaming market professionals stand to benefit immensely from working with crowdfunding sites like Kickstarter to raise money for new innovations and ideas that will benefit players and the industry as a whole.