Online casinos have been growing in popularity since the early days of the Internet. The global online gambling market was valued at $64.13 billion in 2020 and is predicted to grow to $72.02 billion in 2021, according to a recent study by ResearchandMarket.com, which also claims the total revenue will exceed $100 billion by 2025.
Gambling online has become so popular in recent years primarily because it's convenient. Online casinos allow people to play anywhere they are, at any time of the day or night.
Furthermore, advancements in technology have also played an essential role in changing how gamblers interact with casino games and have made playing them much more enjoyable than before.
Faster internet speeds on our devices (no more waiting around), virtual reality (VR) headsets, and cryptocurrency payment options have improved the online gambling experience to a point where it is as good as or better than a brick-and-mortar casino. Here are five emerging trends that we foresee developing during 2021.
Crypto is on the rise, and gambling operators are taking notice. Most reputable operators already offer a range of crypto deposit-and-withdrawal option, and more casinos will be adding digital currency payments this year.
Players worldwide are using cryptocurrency for casino payments because it offers anonymity and security. Bitcoin, or altcoins such as Etherium, provide a viable alternative to traditional banking methods, although these remain an option.
Gamblers prefer them over fiat currency as they provide an extra layer of protection critical for gambling purposes. Analysts predict that crypto will be heralded by gamblers as their preferred payment solution in the next few years due to its advantages, which is why you should get ready now!
The gaming industry has always been looking for a way to heighten the player's experience. VR offers a perfect opportunity to do this because it allows gamers to be immersed entirely in a given virtual world, with no outside input impeding on the player's attention.
Casinos are big business and are always willing - and able - to experiment with new technology in order to draw more people in. With VR casinos, gamblers can visit simulated worlds where they interact with virtual characters. VR slots and live dealer rooms add a whole new layer to the online gambling experience.
Even though a few years ago, VR headsets were mainly used by tech-savvy people and early adopters, nowadays, these high-tech accessories have become more affordable.
The iGaming industry has invested millions of dollars into VR casino development, and it's only a matter of time before every gambler can enjoy an immersive gambling experience from their home computer or phone. Software providers are currently developing VR versions for their most popular games.
Despite this heavy investment in VR on the developer’s side, it hasn’t really caught on with the gaming community yet. This is probably because extended periods in VR can leave the user feeling disoriented and nauseous, not exactly ideal if you want to spend an evening at the tables. However, developers are working on fixing this problem, and once they find a solution, VR gambling is set to explode.
eSports betting is basically wagering money on professional online gaming competitions. It's a market that has been growing exponentially, and you can make excellent returns if you know what you are doing.
In recent years, eSports have exploded in popularity as more people are catching onto this untapped market and realizing its enormous possibilities for great returns.
The upward trend of this industry will continue to make waves as more and more gamers want to become professional or at least monetize their gaming knowledge in some way, shape, or form.
Since millions of people play video games daily (not just competitively), you can expect a steady increase in demand for virtual sports betting, and more online casinos will integrate esports betting into their sportsbooks.
New online casinos are released almost daily, making the gambling industry even more competitive. This should be great news for you and me as players since we have so many options to choose from!
However, it's not such good news for operators who find themselves struggling to attract new users. One way they try to do this is by offering better bonuses. These welcome offers can range from generous deposit matching bonuses (giving you additional credit) or low-wagering requirement promotions that maximize your odds of cashing out on the bonus funds.
The problem is, these bonuses offers cut into the profitability of the casino, which is not such good news for the players.
In order to protect their bottom line, some online casinos are now choosing “lower RTP” versions of the same game from the software providers.
On the face of it, a 2% decrease in RTP doesn’t seem like a big deal, but it is as this thread explains. So remember, when choosing which casino to play at, do your research into the RTP offered. In the long run, fair treatment of players is much more important than a big first deposit bonus.
Live dealer games have been around for a long time, but they have really become popular in the past few years. This is because people are looking for an online gambling experience that feels more like being at a casino.
With high-speed internet connections and advances in streaming technology, live dealers give players the human interaction they have been missing from online gambling.
If you've ever played table games with live dealers before, then you know how great these types of casino games can be. The best part about them is their close to real-life feel and interactive nature. Imagine siting in the comfort of your own home while watching real roulette balls spin around the table before rattling into a pocket!
This kind of excitement is something that just isn't present enough when playing other types of online casino games without any form of face-to-face communication whatsoever, no matter how good the graphics and animation are.
In addition to taking the extra time to recruit the most charming and talkative croupiers, the online gambling industry is investing heavily in ways to improve the interaction between live dealers and gamblers.
As technology improves, it won't be long before a live dealer casino is almost indistinguishable from a brick-and-mortar one.
We've looked at 5 emerging trends for the gambling industry; let's see if they come true. With so many new technologies and innovations coming out every day, it can be hard to keep up with all of them. But we think these are worth paying attention to. So check back in a year and see what happened! Meanwhile, why don't you take a look at what we've predicted for the crypto markets over the next six months.
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