The iGaming sector continues to grow and it has remained unshaken despite the pandemic. Last year, there have been numerous reports that showed how people have been gambling online more. Well, this was because land casinos and public establishments have been forced to temporarily closed due to lockdowns. With that, people had to stay at home and they found themselves with a lot of time to kill. Many did go online to play games including the ones that involve real money.
Online casinos have been doing great even before the pandemic. In 2019, it was already a multi-billion-dollar industry worth over 53.7 billion USD. Grand View Research reports that the online gambling market has a CAGR of 11.5 percent from 2020 to 2027 which means that the global market could be worth over 127.3 billion USD in six years.
With the continuous rise of this gaming segment, Online casino game providers and operators are constantly trying to keep up with the demands of the market. This is why trends continue to rise and currently, there are a few great ones that are already shaping up the future of online gambling.
The Use of Cryptocurrencies Like Bitcoin
Bitcoin gambling is steadily on the rise and this was especially the case last year when the value of this crypto rose to around 30,000 USD. People gained more interest in cryptocurrencies in general and with more people buying coins, more businesses are starting to use them too as a form of payment option.
Today, many gambling sites are now offering cryptocurrencies like Bitcoin, Ethereum, Cardano, Binance Coin, and many others as a way to transact with them. Gamblers are now starting to shift towards crypto gambling because it gives them additional security and privacy. When transacting with cryptos, no personal nor banking information is necessary. Only a wallet address is needed, and so, this option gives the players some sort of anonymity when transacting with casino sites.
Overcoming Restricted Access
The use of cryptocurrencies also somehow alleviated the restrictions that countries and banks have when it comes to gambling transactions. Taiwan has strict regulations when it comes to gambling but thanks to crypto gambling sites, the locals can enjoy many casino games without breaking the law. The thing about cryptos is that it’s still in its infancy and many countries are still not regulating its use.
Some banks would monitor the transactions of their customers and some are pretty strict when it comes to gambling-related spending. Some banks take a couple of days to clear a gambling transaction and others would even let it affect the credibility of their customers. Some places won’t allow the customers to apply for a loan if they have gambled in the last six months. With that, crypto gambling is a perfect way to avoid these hassles.
Blockchain-Powered Gaming
Somewhat connected to the use of cryptocurrencies is this trend that concerns the use of blockchain in gaming. Cryptocurrencies are known to be powered by blockchain, but apparently, this isn’t the only use of this technology. Blockchain solves the legacy problems in the gaming sector.
This technology can help and allow the players to own their in-game assets and prevent account theft. For online casinos, some are already starting to use this to ensure the privacy and safety of their customers. It also helps ensure the fairness of the games that they play.
Live Dealer Games
While visiting land casinos is an experience that every gambler should have, online casinos nowadays can promise a close-to-reality gambling experience. This is handy now that we are still dealing with a health crisis. The biggest online casinos now offer live casino or dealer games wherein players get to sit on a virtual casino table and play with a live dealer and players all over the world.
Live casino games are quite a in demand today because many most likely miss the land casino setting. When playing a live dealer game, you don’t just see a dealer who’s in front of a webcam. It’s a high-quality product and setting wherein you get to see a dealer sitting in front of an actual casino table. As a player, you get to take advantage of the different camera angles to get into the game. Some casinos even allow the players to interact with each other through a chatbox. This surely makes online gambling a social activity.
This is a paid guest post.
Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.
