2020’s lockdowns and financial fears might be the turning point for casinos. For land-based casinos, the empty halls may never fill again as they did. For online casinos, it is the beginning of a bright future. Many people found consolation in online casinos, and it is a sure thing that their 2020 numbers are going to look fantastic. What does 2021 look like for online casinos?
Mobile Gaming Dominates
About two-thirds of the world’s population currently own a smartphone. That’s a staggering 4+ billion people. An accelerated expansion of internet connectivity has accompanied this mobile growth. The interesting thing is that there are remote places in the world where there are no roads but excellent internet connectivity.
Mobile internet traffic overtook desktop traffic back in 2016. This data is a clear pointer that phones are replacing computers for most personal tasks, including entertainment. Phones have become more powerful and smarter, as well. The latest smartphones pack specs that were on laptop notebooks 2-3 years ago.
A majority of land-based casinos have wised up to these changes. They have created native apps that offer betting markets equal to those in the physical casinos. With their deep pockets, these casinos will rush to ring fence their customers. They will herd them onto their mobile platforms with attractive incentives.
Sports Betting Markets
Online sports betting is the fastest-growing segment of online casinos betting markets. Countries where online sports betting was prohibited, are changing laws to allow sports bets. New Zealand and the US are good examples.
The New Zealand government has passed laws to regularize sports betting. Over 60 online casinos are now operating there. Downloads of online casino apps there have since risen by 59%. The gambling guide https://www.casinoreviews.net.nz/ has listed all the top-quality casinos in New Zealand.
Online casinos in the US have only recently started offering sports betting markets. Online casinos accessible in the US were prohibited from offering sports bets. This is expected to change as states in the US change the laws to allow online sports betting.
Currently, only 17 US states allow sports betting. Another 13 states have passed or have laws in the pipeline to allow sports betting; North Carolina, Tennessee, Virginia, Washington, Hawaii, Kansas, Louisiana, Maryland, Massachusetts, Nebraska, Ohio, South Dakota, and Vermont.
The US is the largest gambling market. Legalizing sports betting will change the online gambling market in a big way. Already, online casinos operating in states where sports betting is legal are offering lucrative sports betting markets.
More Esports Betting Markets
Esports is the fastest-growing subset in sports betting. All real-life games have a virtual equivalent. You can bet on esports basketball that is based on the NBA, a virtual league based on the EPL and so on for other sports.
Perhaps the most exciting betting offers are coming from the world of video games. Games such as League of Legends and DOTA 2 have tournaments with prize money running into millions of dollars.
Online casinos have started offering betting markets in these games. Massive growth is expected as the video game community comes to online casinos to bet for their favorite game characters and teams.
Crypto Online Casinos
There has been much noise about cryptocurrency use in gambling markets. The fact is that cryptos offer advantages that online casinos can’t ignore. They offer lower transaction costs than conventional banking transactions. This translates to better margins for online casinos, and better odds for their customers.
Blockchain technology is also making online casino operations more transparent than before. Several online casinos have already implemented Provably Fair Gambling systems. These systems lay bare the betting transactions for anyone to inspect for fairness. More online casinos will have to board this wagon as their customers demand transparency.
An Influx of Online Casinos
The online gambling industry is expected to grow 11% per annum until 2024. Presently, it has a turnover of approximately $53 billion. The 2020 numbers are not yet out and are expected to outperform other industries by far.
These impressive numbers will surely attract a good number of investors. There are low barriers to entry into this industry. An online casino is relatively easy to set up with white labels. Many online casinos also opt to register offshore where regulation is relaxed.
Online gamblers can expect very attractive promotions and bonuses as these new entrants try to woo them. The higher competition will also force online casinos to offer better odds in sports betting.
2021 promises to be an exciting year for online casinos. There are massive growth opportunities for online casinos. Online casino gamblers will also have more choices, incentives, and better odds. Things can only get better.