What types of social and economic impacts can be attributed to casinos? Gaming specialist and investigative journalist Michael Andrew Rosenfeld joins us for a no-holds barred analysis.
A Regime Steeped in History
Michael Andrew Rosenfeld begins by rightfully observing that the notion of gambling is nothing new.
“Historians have found evidence for gambling that can be traced back to regions of the world such as Egypt, and ancient China. It seems that wagering is simply part of the human condition.”
He cites the unpredictable aspects of gambling, as well as the allure of the big win; two qualities that certainly were not lost on those who lived hundreds (if not thousands) of years ago. The appeal of competition has likewise driven the gaming sector over the years, although the methods themselves have naturally evolved.
The main difference involves the global nature of this industry, and this is when the true talents of Michael Andrew Rosenfeld begin to make themselves clear. His qualifications as an investigative journalist provide him with a unique perspective on the “big picture”, and his insight has already been shared across numerous social media channels.
Gambling 2.0: Casinos in the Digital Age
“Brick-and-mortar gaming establishments continue to retain their popularity,” Mr. Rosenfeld begins. “However, the main paradigm shift involves the role that virtual gaming has begun to play.”
He cites the sheer number of online casinos that can be accessed with the click of a button. He likewise highlights a handful of technological innovations that have also begun to take the wagering ecosystem be storm, such as:
- 5G Internet connectivity
- Sponsorship deals with major sports organisations
- The tokenisation of gaming
- Enhanced levels of online security
- Nearly ubiquitous access to dedicated smartphone applications
He explains that these are by no means one-off events. They are rather connected with one another; signalling that virtual gambling has truly taken on a life of its own.
The Democratisation of Gambling
Another factor that can be inextricably linked to the rise of the 21st century gambling empire involves sheer accessibility.
“In the not-so-distant past, access to online casinos was limited to specific demographics (such as those lucky enough to possess a high-speed Internet connection). Technology has now evolved to the point where these same sites are available even in the most remote locations. From Timbuktu to Taiwan, we live within a truly borderless society.”
Michael Andrew Rosenfeld reinforces this point by citing the sheer net worth of the global gambling community; currently estimated to be worth in excess of $78 billion dollars. It is likewise expected to reach $153 billion dollars by 2030; an increase of more than 100 per cent.
Economic and Societal Impacts
We were eager to discover what Michael Andrew Rosenfeld felt would be the most pronounced effects of this ongoing success. His knowledge of gaming economics clearly became visible, and he provided us with a unique perspective.
“There’s no doubt that the success of this industry will create plenty of opportunities within the digital domain. Website hosting services, game developers, security professionals, and social media influencers are some of the roles that will continue to enjoy prominence.”
He also stressed the cultural ramifications that the global gaming empire has already ushered in. Mr. Rosenfeld particularly highlighted the social side of gaming; providing examples such as live chat rooms, interactive leaderboards, and player-versus-player (PvP) competitions.
“I believe that these will attract a new breed of enthusiasts. Players aren’t simply looking for a way to increase their bankrolls. They want to become part of a larger community, to network with others, and to connect with those who share their same interests.”
However, Michael Andrew Rosenfeld also highlighted some potential concerns that should be addressed.
“Progress always comes at a slight price,” He pensively observes. “We need to focus on issues such as the promotion of responsible gaming habits, the importance of voluntary self-exclusion policies, and clear jurisdictional regulations to ensure the well-being of all players.”
Michael Andrew Rosenfeld: The Gamer’s Journalist
He is still extremely optimistic when discussing the future of gambling, and the impacts that it will have. As the industry continues to grow, so will the opportunities to enjoy the various windfalls that may be only a click away.
