A new year is finally here but we are still left with the aftermath that 2020 has given. Last year has been tough for many people and industries because of the pandemic but fortunately, the gambling sector was still able to survive and this is mainly thanks to online gambling companies.
The online gambling market has been continuously growing over the last few years. However, the pandemic somehow boosted its growth that by the end of last year, the online gambling market was estimated to be worth over 59 billion US dollars. With that, we can only expect that 2021 will be a great year for online casinos including betting apps in India.
What 2020 Brought to the Table
2020 surely wasn’t easy for many gambling businesses, especially for land casinos and bookies. Governments around the world had to implement lockdowns to ensure everyone’s safety. With that, gambling hotspots like Las Vegas and the Atlantic City appeared empty for a few weeks.
However, it wasn’t all bad for the gambling industry. The temporary closure of casino establishments helped boost the growth of the online gambling sector. Regular casino gamers and even non-gamblers all found their way to real money gaming sites to keep themselves entertained during the lockdowns.
It was in the latter part of Q1 last year that online casinos gained more following. Online casinos did report a spike in their traffic and they have seen gamblers who used to frequent local casinos and people with no gambling experience before the pandemic sign up with them.
With that, it appears that there are now more people who are now showing interest in real money casino gaming. This is why we can only expect that this year, we will see more online gambling activities and trends. Here are some that we may see more of this year.
Mobile technology also plays an important role in the recent rise of online gambling activities. The existence of smartphones and tablets has made it easier for gamblers to place their bets any time and anywhere they are. Mobile gambling simply means convenience to many.
The rise of the mobile market has also taken the attention of many gambling companies. It is now estimated that there are around 4 billion smartphone users worldwide. This surely is a big market for gambling companies to not miss out on. The availability of the 5G internet also means that the gaming and gambling experience will just get better this year and in the coming years.
Use of Cryptocurrencies
While 2020 has been challenging for many industries, it has become a great year for cryptocurrency users. Bitcoin, in particular, has finally peaked once again since it did in 2017. Today, Bitcoin is valued at over 31,000 US dollars. More and more people and businesses are starting to adapt to its use.
For the gambling sector, it has already been a few years since a few online casinos have adopted its use. There are even gambling sites that only cater to cryptocurrency users. And since Bitcoin is still doing good, more online gambling sites will probably start transacting with cryptocurrencies this year.
The gaming industry has also somehow benefited from the pandemic. The lockdowns caused many people to engage in different online activities including gaming and gambling. Aside from that, professional sports also hit the pause button for a few weeks last year.
When the pandemic started in March, major professional sports leagues like the NBA and the English Premier League had to postpone the rest of their seasons. Because of this, people didn’t pro sports to follow.
This then became an opportunity for e-sports to rise amidst the health crisis. After all, online game tournaments can commence without physical contact. Many e-sports tournaments were still able to push through last year. Plenty of online bookmakers then shifted their attention to these tournaments.
Now, even if professional sports are back, e-sports is still expected to grow in the next few years. More people are now taking competitive gaming seriously because prize pools are getting bigger. This year, it is likely that bookies will start to offer more odds in e-sports. Some of the most popular game tournaments are for titles like Call of Duty, League of Legends, DOTA 2, and Counter-Strike: GO.
Overall, 2021 is poised to be another great year for the gambling industry, mostly for the online sector. There are still land casinos that are closed until today and casinos are still operating with limited capacities. We can expect that more online casinos and betting sites will pop up this year.