The casino and gambling industry has shown tremendous transformations over the last two decades. These changes have evolved to include technological advancement in the modern world, with technologies like cryptocurrency and virtual reality set to change the future of the industry entirely. Here are some of the top trends contributing to the rise of the gambling industry in 2020.
The Growth Of Cryptocurrency
There’s no doubt that minimum deposit casinos are not going away anytime soon. These casinos are also embracing the new cryptocurrency wave alongside other leading bookies to keep up with
the competition. As such, cryptocurrency will dominate the gambling industry soon, as the need for gamblers to maintain anonymity continues rising.
Besides anonymity, many people prefer to use digital currencies like bitcoin for their security and fast transactions. The added security of cryptocurrencies makes online gamblers feel more at
ease as cases of hacking and identity theft are minimized.
Changing Consumer Behavior
With over 5 billion people having access to smartphones today, both social and mobile gaming has a tremendous impact on the online casino and gambling world. 2020 has recorded a rise in
the number of people using smartphones for gaming over the last few months, increasing free to play (F2P) games.
While free to play games don’t make a direct income or profits, revenue can still be generated in other ways. Players are often charged a small price to unlock certain desirable features and
different virtual offerings. The players are willing to pay the price since it’s low and can help improve the gaming experience.
With this change in consumer behavior, it’s evident that most gamers are willing to spend on entertainment. As such, online casino operators are working hard to leverage this data since F2P
players are great potential customers due to their large numbers.
More Live Dealers
Modern players have shown a preference for online casinos that offer real live casino experience in the comfort of their homes. The players enjoy having a live dealer handling their games,
which is the main reason most people still visit land-based casinos. As such, more online casinos are leveraging this information to give their customers the ultimate live casino experience.
Currently, the use of dynamic and lively dealers in games like Baccarat and Blackjack is a popular phenomenon in many leading casinos. The human interaction makes the players feel comfortable when placing wagers, and it’s more tempting for them to stay longer and keep playing.
The Decline Of Land-Based Casinos
With the recent global lockdown forcing many people to stay at home for months, land-based casinos have suffered a huge loss in market share to their online counterparts. Land-based have
suffered a rapid decrease this year, with more people avoiding to make a trip to a real casino.
That’s because players need to spend an excessive amount of time and money traveling and grooming before they can enjoy a game.
Besides the convenience, online casinos have gained an edge over land-based establishments as they can offer more privacy and security. Additionally, online casinos are offering a more vibrant
gaming experience, with thousands of games for the players to choose from. As a result, players aren’t hard-pressed when choosing games, unlike in traditional casinos, which offer a limited catalog.