Over the last decade, all industries have started focusing on embracing greener energy. A more sustainable future and business model is the aim for all industries, and given that scarce natural resources will continue to drive up the base price of many essential components, businesses are scrambling to find greener alternatives. Given that electricity, gas, food, and other essentials will all increase in price due to the increasing scarcity of oil, companies that invest millions of dollars now to help mitigate these costs could see their approach pay off in the long term.
Adapting to changing markets is crucial. With many governments offering subsidies for industries that aim to find greener energy alternatives, the entertainment industry is looking for ways to keep up with other industries and strive to make their long-term business models more profitable.
Embracing The Green Revolution In Casino Gaming
Some entertainment industries use more electricity and fuel than others, so they have even more emphasis on green energy and driving down their costs and carbon footprint. The casino industry is one sector that has been on board with this idea for quite some time. You only need to step foot in a land-based casino to see how much electricity is in constant use. Slot machines generate substantial energy bills for casinos. Still, the ongoing multi-decade switch has seen more gamblers opt for digital casinos, which are much better for the environment and bring down bettor’s carbon footprint as they do not need to drive to the casino to place a wager.
Land-based casinos, particularly in countries like Australia and Vegas, have started to embrace the power of solar energy. In addition, alternate payment methods have begun to play a more prominent role in the casino industry, negating the need for physical paper cash. Cryptocurrency is the payment method currently making the most noise in the industry, as more people opt to use their Bitcoin and other cryptocurrencies to play popular card-based casino games like blackjack.
Online casino gaming with cryptocurrency also removes the need for physical cards to be used, again cutting down on emissions by relying less on paper. For instance Bitcoin casino games have the smallest carbon footprint for online casino gamers than for their counterparts in physical casinos. Although some news stories have stated that Bitcoin does generate a carbon footprint, compared to the environmental impact of physical forms of value like the development and transportation of gold and paper cash, it is much smaller, indeed.
Harnessing the power of solar energy, particularly in countries throughout Africa and Australasia that see a lot more sunlight than European nations, is an excellent, efficient way to combat fossil fuel energy. Three million homes in Australia have solar panels, and it generates a sizeable chunk of the country’s energy without having to rely on fossil fuel production and other non-sustainable ways to create electricity.
With many casinos following suit, particularly in hot climates, such as Vegas casinos, solar energy will continue to play a critical role in the development of green energy and a move away from non-sustainable resources in the casino industry.
Net Zero Casino Gaming?
Ultimately, the goal for any industry is to become net zero and remove all carbon emissions from their business model. Obviously, for some industries, this is an impossible task. For instance, the aviation industry will not be able to reach a point where they rely solely on non-renewable resources. However, some projects are developing incredibly innovative ideas for net zero air travel.
However, the casino and gambling industry has a much better chance of achieving this attainable goal. For casino gaming to become sustainable, there’ll need to be enough green energy to power land-based casinos, and digital services should also be able to generate their games without relying on traditional, scarce resources.
The Future Of A Sustainable Casino Industry
The idea of net-zero casino gaming might seem distant at the moment. Still, as well as aiming to bring down their carbon footprint, there are also considerable financial incentives for companies that can minimize their emissions, as ultimately, it’ll lead to more significant profit margins. So, while it might seem like a multi-faceted idea, with a focus on the climate, if there’s a chance of increasing profit margins, then the industry will take it seriously.
From the ground up, there’s a lot more being done in the industry now than there was a decade ago. Many poker tournaments now take place online, which cuts down on emissions and doesn’t fly poker players to land-based casino destinations from all over the world. For a global, international industry that generates tens of billions of dollars worth of profit every year into a completely net-zero endeavor, it is a tough ask. It’ll take at least a couple of decades to turn this vision into a reality, but there are a lot of good omens and signs already for the industry to work with.