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While many businesses have been struggling during the pandemic last year, online gambling has been flourishing. The worldwide revenue from the past year rose from around $58 billion to $66 billion. This trend is expected to continue in 2021 as well which will bring the online gambling business to even bigger highs.
New technologies in the online gambling world
New technology inventions are very important for the online gambling sphere. During 2021 we are expecting to see more usage of Artificial Intelligence which will improve the player experience. With the help of AI, players will be able to get a more personal experience.
This also applies to virtual and augmented reality experience.
Cryptocurrencies
The option to deposit and play in cryptocurrency is already live in many casino brands. Still, there are some limitations and prejudice amongst the players community. In the past 2020 we saw big changes in the crypto world with a lot of payment providers opening up, like PayPal. In combination with the rising price of Bitcoin and other currencies, we expect this to affect the online gambling world as well. Maybe in 2021 Bitcoin will become the favorite payment method for many players.
New growing markets
The igaming industry is very fast-changing and growing. This has been clear in the last couple of years when the online gambling market in countries like India has taken off with an incredible speed. Online gambling in India had a revenue of $295 million during 2020. We also witnessed an increase in casinos offering INR currency and specific games for Indian players.
Another changes were observed in the US market with different states opening up and legalizing online gaming and sports betting.
On the other hand, some European markets decided to implement new regulations. This lead to different limitations and more strict rules for countries like Sweden and Germany. Germany is currently preparing to introduce a new treaty. This will include a new gambling regulator much like the MGA in Malta, Spelinspektionen in Sweden, and the Gambling Commission in the United Kingdom.
Nevertheless, this will lead to safer and better gaming in the future.
