Seems like the dreadful year is a blessing in disguise for online gambling platforms as platforms like blackjack bagged a massive amount of profits by taking complete advantage of lockdown.
Online gambling platforms made a good fortune as the number of online gambling users grew through the roof. As per the stats starting from 2020 to 2027 the compound annual growth rate (CARG) of the global gambling market is raised to 11.5%
The impact of 2020 on online gambling
Due to the COVID-19 breakdown, the gamers are restricted from going to gambling places and this led to a massive increase in the numbers of users on online gambling platforms.
The global market of online gambling grew by leaps and bounds over the past year as new users started joining the online gambling community. The rise in the number of users went on and on, so some countries decided to make most of 2020 by changing their laws.
While this may be true, Belarus legalized online casinos and Armenia made particular changes to allow gamers to gamble online.
On the other hand, the online gambling platforms started marketing by offering rewards and bonuses by making hay while the sunshine.
A tremendous rise in the online poker players is seen in the US as the user base hit 225% from the beginning of lockdown. Globally the poker industry has grown by 43% over April 2020.
Trends evolved in online gambling
In order to turn online gambling into the most fun and pleasurable experience, many gambling platforms brought amusing changes to the online gambling industry. Here are some outstanding changes that grab every user’s attention.
If virtual reality casino gambling doesn’t make you all excited then I don’t know what will!!!
I am not exaggerating at all, here me on this…imagine sitting in the comfort of your home and playing a virtual casino where you can actually see all your opponents and their moves effortlessly, amazing right!!
This technology also allows having a conversation with the other users as the games are played by people from different places one can get a chance to explore and understand different game strategies.
However, it can be a little expensive for some users as the users must have the complete VR equipment to experience this technology.
AI creates a personalized list of games by analyzing the user reference. This makes the process of selecting a game much easier and it also saves a ton of time.
AI is also used to assist the user and answer all the queries, already some online casino games insist on the chatbot system to connect with its user.
In addition to these this technology has some more awesome benefits to offer they are:
- It saves you from bizarre players who try to cheat. The AI helps in identifying and noticing the fraud by analyzing the game patterns.
- It helps in detecting the gambling addiction level and alerts the player as it analyses one’s behavior towards the game.
Blockchain has already made its way in the world of online gambling. A blockchain platform must be a crypto gambling platform that accepts the cryptocurrency as payment and here are some of the advantages of this technology
- Decisions and moves that are extremely fast and independent.
- transactions are done safely as these platforms maintain transparent user transaction information which is stored in public contracts
- One cannot change any transaction data which makes it more safe and secure.
- The platforms are authentic and offer great transparency as every player can see that the slots are randomly generated.
Will 2021 continue to be the year of gambling?!!
The answer is an absolute yes!!! Seems like gambling owes a lot to the pandemic as the industry made it to the top. The gambling platforms are improvising the trends like VR, AI, and mobile gaming to provide a great user experience. The forecasts and predictions say that the revenue might scale up to $1 trillion in 2021.
In2021 online gambling is majorly concentrating on mobile gaming as mobiles are super handy and easy to access. The HTML5 technology turned the idea of mobile gaming into reality by avoiding the risk of going to traditional gambling places.it is estimated that mobile gambling will take a good share of 56% of the gaming market in 2021
As we came to an end here is a quick recap of what we have discussed so far
- As per the stats starting from 2020 to 2027 the compound annual growth rate (CARG) of the global gambling market is raised to 11.5%
- List of gambling trends evolved in 2020
- Virtual Reality
- Artificial Intelligence
- The forecasts and predictions say that the revenue might scale up to $1 trillion in 2021.
- It is estimated that mobile gambling will take a good share of 56% of the gaming market in 2021