The coronavirus pandemic of 2020 disrupted a lot of legacy industries and some of the world’s largest businesses had to close down to control the spread of the virus. But where there is chaos, there is also an opportunity and some industries & businesses have benefited hugely from the situation.
Because people were locked up in their homes spending a lot of time on the internet, online casinos are one of the industries that experienced a huge boom from the pandemic.
With increasing advancements in mobile and internet technology as well as the coronavirus pandemic, the outlook is that online casinos will dominate the gambling industry in the years to come.
The future is uncertain of course, but below are some of the expected trends in online gambling in 2021.
Market growth
The past couple of years have seen significant growth in the online gambling industry. And if the past year is anything to go by, online gambling is expected to grow even faster than previous years have shown. By 2023, for example, even conservative estimates expect the industry to blow past 92 billion dollars. Several factors contributing to this growth include:
Mobile phones
Bigger screens, faster processors, better batteries, secure internet connection, and many other top tier features mean that the mobile phones in our pockets these days are basically mini computers. A recent poll reported that almost 60% of internet traffic currently originates from mobile devices.
Online casinos take advantage of this by creating mobile-optimized websites and apps that allow players to easily play casino games on their mobile devices. You can play on mobile easily on Casino Planet.
Legalization
Countries that were previously against the legalization of online gambling have reversed their stance and agreed to legalize online gambling once they realized the amount of tax revenue online casinos could bring in for them.
These recent legislations have increased the number of online gamblers and contributed to the growth of the entire industry.
Blockchain-based games
It’s 2021 and for better or worse the blockchain and cryptocurrencies are here to stay. Some online casinos have decided to get ahead of this trend by accepting crypto payments or offering bonuses for crypto payments.
Players who already use the blockchain for other purposes are more than happy with this fact. Also, the blockchain itself is a public ledger of all transactions that happen on it. Therefore blockchain-based casinos increase the trust between casinos and players because all transactions are public.
Online casinos and responsible gambling
Because of its highly addictive nature, gambling has a bad reputation for being associated with drugs, abuse, and mental health issues. Because of this, the industry is tightly regulated and online casinos are held to the highest standards of responsibility.
Online casinos must meet stringent standards before they are approved, set an age restriction to curb underage players and take responsibility in helping users with gambling problems get back on their feet.
AR & VR will change the user experience
While most players have not realized it yet, AR(augmented reality) and VR(virtual reality) technologies have already changed the gaming world forever. AR allows you to augment your own reality by adding elements that previously didn’t exist while VR lets you create a new different reality where you can do anything you want.
Using these technologies, online casinos are able to create immersive gameplay and enhance the gaming experience. With AR and VR you can visit casinos, play games, win money, lose money and interact with other players without leaving your home.
Bigger and better deals
Although it’s a relatively new industry, competition is rife among top online casinos. Therefore, many resort to offering bigger deals and bonuses to lure in new players. Some casinos will even offer bonuses for signing up without a deposit. For players, this means they can start playing without depositing any money.
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