Online gambling has been one of the biggest emerging markets since the advent of the Internet. Thanks to innovation, they are growing extraordinarily fast. This segment is currently undergoing significant changes as software developers using the latest technology open up more and more opportunities for gamers.
The year 2020 has shown us that the future is impossible to predict. As in other industries, the COVID-19 pandemic has affected the gaming industry, its performance, competitive environment and future prospects.
However, the online gambling industry continues to thrive despite the pandemic, and some specific industry trends are expected to become more prominent in 2021.
Numbers and reasons for popularity
The gambling industry is constantly evolving, and online casinos are more popular than ever. Statistics show that online gambling’s share of the global gaming market is increasing every year from 2012 to 2020. In 2012, online gambling accounted for 8% of the global gambling market and in 2020 this share has increased to 14%.
In 2017, the size of the online gambling market was $45.8 billion and is expected to grow to $94.4 billion by 2024, which means that the market is becoming more popular.
But what makes online gambling so interesting?
- Many players find that online sites provide a better user experience than land-based platforms. They get higher bonuses for a lower price.
- For many, another reason online sites are a better choice than land-based casinos is that they allow users to bet in the casino in real time, regardless of time or location. They can use gambling sites at home without spending money on trips to casinos, food and drinks.
- Players seeking incremental change and constant bonus winning are attracted to the many jackpot opportunities offered by online gambling sites.
Thanks to the technological advances of recent years, the scale of the industry is expected to increase. The gaming industry is now poised to face some challenges: the larger operators will readjust and adapt to the new trends, thus gaining more market share, while the smaller operators will suffer.
Specific industry trends in online casinos are being “catalyzed” by the epidemic and are expected to become more prominent this year. So what are the major trends in online gambling in 2021?
Mobile Gaming
You can tell that mobile gambling hasn’t been uncommon for a long time. Smartphones are indispensable in the life of modern man these days, and more and more people prefer cell phones as a tool for entertainment. Yes, this is really true.
Thanks to the convenience of mobile devices now many gamers prefer them to computers. But after all, until recently, gambling providers did not have much reason to focus on such players, because smartphone technology was not as advanced as it is now.
Paying with cryptocurrency
Once again, you can say that this isn’t new to the casino industry either. However, despite the convenience and security, online gambling has taken time to adapt to cryptocurrency payments. As this trend has slowly changed over the past few years, more and more online casinos are expected to start accepting cryptocurrencies this year.
Part of the reason for the online industry’s initial hesitation about cryptocurrency may have to do with players’ uncertainty about the new payment medium. Now that cryptocurrencies have been around for a long time and the number of online gamblers using them continues to grow, the industry has no reason to be hesitant.
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