The gambling industry continues to thrive despite a pandemic. It’s still expected to be valued at over 565 billion US dollars by 2022 with a CAGR of 5.9 percent. This is simply one of the biggest industries and as more countries allow legal gambling, it will surely continue to grow.
2020 has been tough for many industries and it is also the same for the gambling sector. Many land casinos were forced to temporarily shut their doors to help contain the pandemic and until today, there still are gambling establishments that remain close. What greatly helps this industry to thrive during this trying time is its online sector.
Online gambling isn’t exactly new as it has been around since the mid-90s. Since then, it has come a long way and more and more people are now getting comfortable doing this activity. Generally, online gambling is safe and convenient for many. Whatever casino game it is, be it casino dice games, table games, or slot machines, online casinos have it for you.
As more people get into gambling, especially online, because of the lockdown in different places and the pandemic, different trends arise. Here are the trends that we might see a lot this 2021 in the gambling industry.
In 2019, it was estimated that around 50 percent of the gamblers in that year used their phones to gamble. That has surely increased last year since people didn’t have plenty of options when it comes to in-person casino gaming.
However, even before the pandemic, mobile gambling has already been steadily growing. When it comes to the sports betting handle in the state of New Jersey, it was reported that around 80 to 90 percent of the betting handle is from the mobile sector.
There were also reports that before the pandemic, many gamblers in New York would travel to New Jersey to place their sports bets with their mobile device instead of driving to the licensed casino establishments in New York. This is because NY only allows in-person betting. This just shows that many people now prefer to gamble online or with their mobile devices.
Because of this, the state of New York is now considering finally allowing mobile betting in the state. Governor Andrew Cuomo who used to be against mobile betting seems to be thinking of allowing this now that the state needs more revenue.
While it is now possible that New Yorkers will be able to place their bets online soon, more places in the US are also set to launch mobile or online betting this year. Meanwhile, in Europe, mobile gambling has been steadily growing in the last years.
Another trend that many see as the future of the online gambling industry is cryptocurrency betting. Cryptocurrency betting simply means playing casino games and placing sports or entertainment bets with cryptocurrencies like Bitcoin, Ethereum, Litecoin, and many more.
2020 has been great for cryptocurrency users because once again, the value of Bitcoin has peaked. Currently, its value is now over 35,000 US dollars and it could still go up in the coming weeks or even the rest of 2021. With that, more people are now showing interest in buying cryptocurrencies.
Many businesses including online gambling operators are now adapting its use. As more people use cryptocurrencies, the crypto-gambling market will also continue to grow. Many online casinos and bookies now accept cryptocurrencies and some sites only cater to cryptocurrency users.
Last year wasn’t just tough for the gambling industry. Many major sports leagues had to cancel or postpone many sports events in 2020. Because of that, many sports betting operators struggled and didn’t have plenty of odds to offer to their customers.
This made many betting companies shift their focus to e-sports gaming. After all, e-sports tournaments can still be held without an audience. Computer game tournaments can still be held without a crowd and last year, many e-sports tournaments were still able to take place.
Some of the most popularly played esports tournaments are for game titles like Fortnite, Call of Duty, League of Legends, and Counter-Strike. Even if sports events are already back this year, e-sports still gained quite a following last year. We can expect that more betting sites will be offering odds on esports this year.
Overall, it is seen that the gambling industry will continue to grow this year despite a health crisis. These are just some of the trends that may be seen more this year. There could be more trends that could arise this year but it should still be a great 2021 for the gambling industry.