5 Trends to Dominate the Online Gambling Market This Year
The online gambling industry is growing at an unprecedented rate. In 2017, the market was valued at $46.9 billion, according to Coherent Market Insights and this number is projected to grow by 11.4% over the next nine years. This means that global online gambling and betting will be valued at $123.5 billion by 2026.
With such a highly competitive and innovative industry, online gambling operators are always coming up with new ways to keep gamblers hooked. Here’s what they have to offer this year:
10 years ago, Bitcoin was introduced to the world as a digital currency that uses blockchain technology as its ledger. The currency is not sanctioned by any centralized authority making transactions faster and easier across networks.
Since then, Bitcoin rose to popularity worldwide and is now used by millions worldwide. So, it was only a natural thing for online gambling operators to adapt this digital currency into their games, thus the birth of Bitcoin gambling. Today, you can easily find a lot of casinos that accept Bitcoin as a form of currency along with fiat currency. Some casinos have even released games and services tailored especially for Bitcoin users and they are not only limited to traditional casino games like roulette and pokers but also sports betting, spread betting and even online lotteries. Most of these casinos refer to Bitcoin as “mBTC” or “millibitcoin.”
Live streaming has been a major driving force in the growth of the online gambling industry last year—and this year will be no different. The world’s leading streaming platform Twitch already has more than 15 million daily active users and the numbers keep on growing each day.
A lot of players love to watch lives games from the comforts of their own homes, which is why big-ticket operators like Authentic Gaming and Evolution Gaming have started offering live streaming services to gamblers worldwide.
With the number of mobile phone users around the world expected to reach 4.68 billion this year, it is no surprise that mobile gambling is also becoming very popular among a lot of people. Just imagine the convenience of placing your bets or playing your favorite poker game on your mobile device.
There are thousands of mobile gambling apps and website that offer easy access to different betting and casino game options. As long as you make the right choices, you’ll definitely on track to win some good money while gambling on your mobile phone.
Virtual reality casinos
Although not as popular as live dealer games and Bitcoin gambling, virtual reality casinos have already existed since 2015. But with the growing popularity of VR in gaming, a lot of gamblers are also starting to take interest in VR casinos because it offers a more immersive and authentic experience than regular online casinos.
Horserace betting, for instance, becomes more interesting because you don’t only get to place your bets easily online, you also get to watch the race through VR offering a feeling that you’re in the venue even if you’re thousands of miles away. VR technology also allows you to not only see a live dealer and communicate with other gamblers on a table but also take a tour of the casino to see its amenities and available games.
You can even customize a VR casino to suit your specific needs or it will make adjustments to match your interest after it learns about your favorite games and behavioral patterns.
Perhaps the most interesting trend this year is the move towards legalizing online gambling, especially online betting in the United States. After that victorious overturn in New Jersey’s Supreme Court last year finally allowing any state to legalize sports betting, several states are now making the move towards a more liberal approach to online gambling.
The state of Nevada, Delaware, New Jersey, Mississippi, West Virginia, New Mexico, Pennsylvania and Rhode Island have already legalized sports betting while New York, Arkansas, Montana, Washington D.C, Indiana, Iowa and Tennessee have jumped on the bandwagon and are working on legalizing the game in their areas too.
More states are expected to follow suit for the rest of the year with Connecticut introducing a comprehensive sports betting bill in 2018, Michigan amending its gaming control law allowing bettors with casino licenses to accept wagers on sporting events and five senators in Ohio introducing a bill “to express the intent of the General Assembly to develop and enact legislation legalizing sports wagering.”
Good things are coming for online playing
These trends are surely making huge waves in the online gambling industry this year, and we can look forward to a better future for the industry as legalization continues to move towards the rest of the country.