According to PR Newswire, the global market value of the online gambling industry is expected to reach an astounding $112 billion by 2025, far surpassing the $64 billion it was worth in 2020.
The casino has come a long way since plastic chips and playing cards, with recent events like the coronavirus pandemic accelerating the shift towards digital versions of our favourite games. Now more than ever, online gambling presents an attractive alternative to visiting the local casino. This stems from more than just the need to remain indoors.
For example, online casinos tend to offer a much wider variety of games, which can be accessed from the comfort of home without having to spend any money traveling. You can now use casino websites on your phone as well, allowing you to play on the go. Plus, funds can be transferred through various payment methods, including cryptocurrencies.
These are just some of the reasons why online gambling is set to experience significant growth moving forward. Here’s what we can expect to see along the way.
The laws surrounding online casinos vary significantly from one part of the world to another. Most countries such as those in Europe have their own approach to legal and regulatory issues, while gambling in India is highly controlled. The United States has a far more complex regulatory process, and the laws are different between states.
While some regions are loosening their restrictions, others are taking regulatory action that presents new challenges for casinos on the internet. This is particularly evident in the generally less stringent advertising space, where the burden lies on casinos to be proactive with ensuring compliance.
There’s also the matter of privacy and security, not to mention the geographical limitations imposed on players. It’s up to the companies providing the games to stay on top of these new laws while ensuring the safety of their customers.
In a similar vein, rising concerns around privacy and security are pushing the introduction of crypto payment methods in online casinos. At the moment, there aren’t many gambling websites that offer the likes of Bitcoin and Ethereum as deposit options, though it’s safe to expect that number to grow in the coming years.
A key selling point of cryptocurrencies in this context is that players can enjoy total privacy, allowing them to access sites that might not technically be available in their country. There are also benefits for the casinos, as they can accommodate players who would otherwise be out of reach.
Blockchain technologies are another major talking point in the online casino space. By adopting it, providers will be able to offer a greater degree of transparency to players while improving the security of their services.
One of the primary factors that set online casinos apart from brick-and-mortar establishments is the generous bonuses they’re able to offer. In the early days of internet gambling, these promotions came in the form of deposit bonuses of up to a few hundred pounds. But now, you can find match bonuses worth thousands.
For example, click here to see the promotions that Casimba UK offers, which include up to a $5,000 match deposit bonus for new players. As competition grows and online casinos thrive, one can only expect these numbers to continue rising.
AR and VR
Another major trend that’s prevalent across all sectors of the gaming industry is the rise of AR (augmented reality) and VR (virtual reality) technologies. The cost of manufacturing and selling AR and VR equipment is quickly falling, making it accessible to all players.
This is helped by the ever-increasing processing power of mobile devices, which is helping them become more capable of running games with AR and VR features. So, how can these technologies be used by online casinos? A simple example is the possibility to turn your desk into a roulette or poker table.
In doing so, the experience becomes more immersive and brings back some of the elements that are lost in the shift from traditional casinos to digital ones.
Only time will tell exactly how these trends will affect and change the way we play our favourite casino games. What we can be certain about is that an exciting future awaits.