The Rise of the Online Gambling Market in 2020 – 2021
2020 forged its place in history books with the hard-hitting coronavirus pandemic that sent the globe into a recession. Many industries, including big and old establishments, have been forced to shut down. Except for online casinos. With almost every region under lockdown, most people turn to the internet as a source of entertainment, including online bettors. This shift has pushed the industry to upgrade technology and user experience to keep punters’ attention even long after the pandemic is behind us. Here are some of the notable changes associated with the current thriving nature of the gambling business.
Significant OnlineShift
COVID-19 has limited physical interaction, sending most gamblers seeking to quench their betting thirst online. The sector has since grown by are cord 13.2% between 2019 and 2020, closing the year at over $65.7billion. The pandemic effects are still being felt in 2021, and experts predict it will take a few more years for things to go back to the ‘old normal’. Meanwhile, online gambling continues to the fastest-growing segment in the forecasted period. Even brick-and-mortar casinos that are open during this time offer the convenience of cashless payment modes that boost the online market.
New Gambling Sites
The significant rise in online gambling demand since 2020 has seen casino operators expand the choice range to cater to a bigger market. In the past year, hundreds of new gambling dens have launched, and they are expected to continue cropping up at a higher rate in the future.The added choice range can make it challenging to find an ideal gambling den. However, pay attention to these features to end up with the best choice:
• A valid license from a reliable casino governing institution
• Seals of approval from independentRNG testing bodies
• A range of lucrative bonuses and promotions
• A decent number of games in varying categories
• Payment methods easily accessible in their target markets
More Game Options
Like casinos, the game categories have been injected with a string of new options in the past year. The added sets are meant to make sure there is something for everyone to enjoy and hopefully keep them coming back for more. Slots continue to be the highest demanded of all casino games.Table, instant, and live dealer games have also increased significantly with new and exciting variations churning out. You can play the best games for free at https://onlineslotsx.com/free-slots/no-download/.
Increased AI Use
The online gambling industry continues to exploit technological advancements to innovate and set trends. The use of Artificial Intelligence to optimize services has already begun and is bound to become more prevalent in the coming years among most game developers and casinos.
Big Time Gaming is among the industry big wigs that seek to integrate player behavioral modeling and have partnered with Future Anthem. This Data Science platform, Anthemetrics, runs on AI that listens to game data and adjusts the experience to suit the player better. This system performs the nearly impossible task otherwise of keeping track of thousands of online vendors and billions of spins every day. The AI is a secure platform that can inject data in limitless forms, and it is scalable. The system also provides gambler-level insights, responsible gambling, data-driven professional service, and personalization.
The Rise in Crypto Gambling
When the coronavirus pandemic forced many to resort to online gambling, those that enjoyed the authentic experience were a little skeptical about it. However, most changed their mind after discovering the numerous benefits of the alternative. One of these many perks is crypto gambling.
The uncertain times caused by COVID-19 pushed the mainstream adoption of cryptocurrency. The idea was popularized thanks to how resilient Bitcoin proved to be during the pandemic. This factor and the limited access to online games only created the perfect storm foreach sector to feed off the other entering 2021.
VR and AR Based Gambling
Virtual and Augmented Reality are among the most advanced ways humankind continues to imitate life in new ways. The tech has been around since as early as the 1990s, but the 2000s and 2010s were not the decades for them. The 2020s are predicted to be the age when they rediscover new industries, including those of gambling. VR gambling throws players into a new realm to explore remote gambling on a different level.
The headsets used to conduct gameplay put you into the scene to investigate a 3D environment with the features in front of and around you. Several online gambling software developers are exploring this venture, and more are joining the niche. Slots are the most provided VR gambling games, and some popular options include;
• Jack and the Beanstalk
• Thunderstruck II
• Sprinkle
• Gonzo’s Quest
• Miss Midas
• Starburst
Responsible Gambling Promotion
The significant uptake of the gambling industry since 2020 is driving up mental health issues among gamblers. Most gambling governing bodies have started focusing on responsible gambling measures and setting new standards to regulate the market better. A record-high number of players have adopted gambling addiction, turning the venture from a source of entertainment to an uncontrollable impulse. Therefore, most casinos now include responsible gambling sections to educatet heir clients on how to be responsible for the activity. The gaming sites also partner with organizations to help gambling addicts like Gamcare, GameStop, Gamblers Anonymous.
Esports Popularity
When the world was forced to shut down in 2020, so did popular physical sports like football, rugby, tennis, horse racing, and American football. The online gambling world then turned its attention to esports, which have since ballooned in popularity to boast about half a billion followers worldwide. This figure is projected to increase by at least 10% in the next three years.
Increased Live Dealer Games
Most people that enjoy real-life gambling were forced to resort to online alternatives, and the live casino platform was ready to embrace them. Over the past year, live dealer casinos have popped up at a higher rate to bridge the gap between online and offline gambling. These lobbies have games streamed live from physical studios and run by human croupiers. They offer a vast range of game options, including roulette, blackjack, baccarat, poker, and money wheel variations.
In Brief
The online gambling world has changed drastically over the past year in large part due to the coronavirus. While the pandemic is set to clear in the next few years, the widespread popularity of online gambling is only projected to increase.
