Skill-based gaming is one of the boosting sectors of the world economy as many people are looking at it as a source to test cognitive skills, enhance knowledge, and an opportunity to win some extra money. The growth of skill-based gaming industry, especially word games, is next to any other field such as information technology, medical, and so on. People are looking at it as a career profession as it enables them to play from anywhere and at any time. Besides this, it makes it possible for them to earn money while sitting at home.
What is the confusion?
Now, the question that comes into our minds whenever we hear the word online games is that is it similar to gambling or is it actually the one. In betting, we are required to participate in any game or activity where we risk money or something valuable in order to win more money. The risk factor involved in such games is quite high since we are ready to give our precious assets or hard-earned money in an event where we are uncertain about the outcome. The chances of winning depends upon destiny, if it works in our favor then we can win some good amount, however, if it favors our opponent then we have to be ready to lose money or an asset.
On the flip side, skill-based games have proven to be a great way to acquire knowledge, get entertained, spark creativity, explore social connections, and last but not the least earn some money without being concerned about the outcome. Here, we are required to test our creative aspect and win as much as we can. One example of such games is crossword games. To emerge winners in such games, we need determination, passion, and an ability to think outside the box to solve the puzzles.
What Differentiates Online Gaming and Gambling
In this modern era, both online gaming and gambling have gained popularity, all thanks to digitalization. They have taken the digital route which gives them an edge and helps them to stand out in the crowd. But the concerning area is still many people are unable to distinguish skill-based gaming from gambling, and therefore, they resemble the two terms vice-versa. It is hapless to say that even industry professionals are raising their voice to put a ban on real money based online games just because they believe both online gaming and gambling are somewhat similar.
Saying online gaming and gambling are equal is like saying tea and coffee are the same! This does not make any sense. But why are people unable to figure out the dissimilarities between these two?
Let’s Find Out!
To commence with, the most significant aspect of skill-based online games is that one needs to master the skill required to win a game, come up with strategies that will work, and have in-depth proficiency of the specific game. At the end of the day, what matters the most is skill-set and competency.
However, on the other end, in online gambling, the most crucial factor to win real money is fortune or prospect, which means that there is no guarantee of winning even if we have the required skills.
Furthermore, the inspiration for any gamer to play online games is to have fun, take a break from their stressful routine instead of just winning money. The gaming system prospers on passion, persistence, and purpose. Gambling is about the need to meet our desires or to become rich in no time. The player is required to spend a certain amount of money and then rely on his or her luck to win.
In some countries, financial stakes are usually placed on online card games where real money is involved. But this does not make one a gambler as there is a clear difference between the two between playing games just for fun or to make more money. We must realize that gambling and skill-based gaming are two different competitive games where creative thinking skills or fortune plays a vital role in deciding the winner.
The Growth of Skill Based Gaming Industry
The skill-based gaming industry boomed in a lockdown and its market value is increasing day by day, since more and more people are interested in playing games where they are required to test their intelligent quotient and also earn real money while doing so. According to global entertainment and media officials, revenues related to the online gaming sector are expected to cross $320 billion by the end of the year 2026. Looking at the current statistics, we can visualize its popularity and growth in the coming years.
Some of the popular online word games where users are investing most of their time are Wealth Wordle, Quick Wordz, Crossword Puzzles, Worduko, Sudoku and so on. Many gamers are engaged in puzzles and word games to overcome their stress, spend some leisure time, feel accomplished, and most importantly, to learn something new every day. In the modern era, it is quite evident to say that technology-driven gadgets and appliances have changed our lives and enslaved us. A study shows over 60 percent of the world’s population depends upon smartphones to accomplish tasks related to their work or personal lives. This trend can be seen in the gaming industry too, where most players prefer to play games on their mobile phones in comparison to desktop or laptop since, they spend most of their time using it.
To conclude, it can be said that skill-based gaming and gambling are different from each other. People of all ages like to invest their time and money in them and that is the reason, they are gaining more and more popularity. Skill-based gaming requires certain skills, whereas on the other side gambling rely completely on luck. If we compare chances of winning in both, skill-based gaming can be emerged as a winner, since it is fully based on skill and creative ability. People often prefer to invest their time in games where they get an opportunity to showcase their skills and get something in return.