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What does the future hold for post-pandemic online casinos?
Casinos are one of the steadiest industries in the world. While a bit slow, they are among those who are willing to adapt to changes in technology. Since the global pandemic took place in 2020, casino operators created new ways to keep the business running and even gain more revenues despite the major changes in the market. When people needed to stay indoors in order to avoid having direct contact with other people, the online casino sector of the gambling industry increased its number of players and gained people who want to start their gambling careers. Here are more insights about post-pandemic online casinos.
Most economic sectors struggled during the pandemic in 2020 while online casinos paved the way to increase its growth and progress. Experts also projected a 17% increase in the annual growth in the gambling industry, which means that the gambling sector will have $67 billion worth of revenues by 2025. Many gambling experts say that the growth curve will continue to rise for the next ten years.
How Will the Post-Pandemic Online Casinos Look Like?
Growth of Online Casinos During Lockdowns
The coronavirus pandemic forced countries to have a lockdown and close their borders as one solution to stop the spread of COVID-19. These lockdowns created explosive growth with online casinos and will continue to be a stable business in the industry.
Experts see that land-based casinos will have a decrease in operations even after the pandemic ends. Stay at home protocols made the importance of utilizing online casinos, which received large amounts of beneficiaries.
Stricter Regulated Advertising
Promoting online and land-based casinos has particular sets of rules per country or state. Advertising is a large industry where the competition is very high among businesses and there are minimal regulations with groups of marketers, which gives more problems to some casino operators. They would need proper regulations with the marketing or handling of the gambling business.
Some online casinos in Europe are dealing with a number of advertising difficulties. Online casinos need an increase in restrictions while keeping their players’ safety as a priority for making better progress with the business. All affiliated companies must comply with the marketing rules and regulations, must play their part with self-regulation, for better gambling measures.
Progressive Mobile Gambling
Playing in online casinos nowadays is very convenient for players of legal age. Most games in land-based casinos are also available in online casinos such as sports leagues, slot machines, and other table games.
Although maximizing the use of handheld gadgets is not yet to its full potential, online casino operators are finding ways to utilize the technology’s advancements. The market for mobile gambling will have significant growth exponentially, and there would be an increase in the cash flow in post-pandemic online casinos.
More In-Play Betting
Online gambling gained more popularity among old and new casino players. The progress and development of online casinos in the past ten years showed great improvements. Experts predicted that the growth progress of online casinos will continue steadily in the future. Sports betting through online casinos gained more and more enthusiasts as one of the most reliable betting platforms for gamblers in many places of the world.
Live betting or in-play betting is an online casino feature where you can place your bets in a sporting event as it happens. It can also be available in other forms of competitions such as car racing, dog racing, horse racing, and many more.
ESports Gambling
Most people are not yet familiar with eSports gambling. But with this type of gambling, the revenue for casino operators skyrocketed in 2020, with most of its players are the young generation enjoying their virtual games such as League of Legends, DOTA2, and GO. The fanbase for eSports leagues isn’t that popular compared with the professional sports leagues, but the income that it generates contributes drastically to online casino operators.
Online games can attract many individuals worldwide unlike some other sports such as Rugby, Hockey, or Football. Gaming can give a higher intensity of excitement just by watching it and placing your bets. These eSports will continue to increase their progress in the coming years as their fanbase gets larger.
The Crypto Gambling
Cryptocurrencies are changing the game. The birth of cryptocurrency, such as Bitcoin paved the way for the development of specialized casinos that offer players an avenue to gamble with their most prized currencies.
Crypto gambling shares the same fate as eSports gambling, as it slowly gains popularity among all online casino players. This type of platform provides its crypto gamblers and specialists an easy game for them to place their bets using their Bitcoins and other altcoins. Online casinos that use fiat money for gambling may have a number of difficulties and setbacks with their long transaction procedures, banks that seize assets, and an overall slow gaming experience.
At the start, using cryptocurrencies in casinos seemed like a cult as it offers players exclusivity. Only those who are willing to spend their cryptos can gamble. With the widespread adoption of these currencies, however, more and more players are given the opportunity to play along, making online gambling even more competitive.
Why are more gamblers lured into playing with their prized cryptos?
Cryptocurrencies provide smoother and faster transactions for deposits and withdrawals in playing online casino games. They also have fairer odds with betting on fair games. Cryptocurrencies such as Dogecoin, Etherum, and Bitcoin are getting more popular as it gains trust from the public as a legitimate value that online casinos use.
Playing Virtual Reality Games
One way to have a full experience of a land-based casino without leaving your home is through virtual reality games. This technological advancement makes a huge impact on online casinos, as it provides an immersive and more interactive experience for its players. Post-pandemic online casinos will see more VR games, particularly among the younger generation.
Interactive Slots
Interactive slots, or I-Slots, is an engineered slots type for online casino users. It is one of the most popular variations of slot games.
The I-Slots are available on several online casinos, which gives players a chance to experience the land-based casino games themselves. It has mixes of regular slot spins and adventures, which is just like in physical casinos. You will be able to play the slot machine experience without leaving your house.
Cashless transactions and cryptocurrency are getting much-needed attention, especially with online casinos. Online casinos will continue to develop and create new games to make the experience more fun and with easy accessibility for all eligible users.
Technological Progression
As we live in a digital era, technological advancements are now becoming more commonplace. And casinos took this as a challenge to improve and bank on technology to become even more competitive against giants in the industry. All these progressions in technology point towards online casinos, with players abandoning the idea of going to land-based casinos. The availability of the 5G Internet has allowed virtual reality (VR) technology to rise to new heights, particularly in the eGaming industry and live casino games.
Blockchain technology is also redefining the future of online casinos in more ways than one. With a decentralized system in place, gamblers have more confidence in betting because of the additional layer of security.
The Unicorn of the Pandemic
The pandemic brought most businesses to a halt, and this has affected the economy to a great degree. Due to the potential of attracting many players to spend money, many states in the US are now looking at leaning to online casinos as a huge factor that would take them out of the economic slump.
Similarly, both the UK and Spanish governments are also proposing immediate legislation that would streamline the operations of online gambling to bring in more revenue during these trying times.
Post-Pandemic Online Casinos: The Bright Lights of Hope in the New Normal
Post-pandemic online casinos will become the beacon of hope, particularly as some states start to reopen. Land-based casinos will have to innovate or perhaps shift to online casinos to make sure they remain relevant. The eGaming industry will be hitting strides in the new normal and those who want to gamble big must ensure they are well-equipped.
