Online gambling has been one of the biggest emerging markets since the advent of the Internet. Thanks to innovation, they have been growing extraordinarily fast. This segment is currently undergoing significant changes, as software developers using the latest technology are opening up more and more opportunities for gamers.
The year 2020 has shown us that the future is impossible to predict. As in other industries, the COVID-19 pandemic has affected the gaming industry, its performance, competitive environment and future prospects. However, despite the pandemic, online casino reviews industry continues to thrive, and some specific industry trends are expected to become more prominent in 2021.
The gambling industry is constantly evolving, and online casinos are more popular than ever. Statistics show that online gambling's share of the global gaming market is increasing every year from 2012 to 2020. In 2012, online gambling accounted for 8% of the global gambling market, and in 2020 this share has already increased to 14%.
In 2017, the size of the online gambling market was $45.8 billion and is expected to grow to $94.4 billion by 2024, which means that the market is becoming more popular.
But what makes online gambling so interesting?
Many players find that online sites provide a better user experience than land-based platforms. They get higher bonuses for a lower price.
For many, another reason online sites are a better choice than land-based casinos is that they allow users to bet in the casino in real time, regardless of time or location. They can use gambling sites at home without spending money on trips to casinos, food and drinks.
Players seeking incremental change and constant bonus winning are attracted to the many jackpot opportunities offered by online gambling sites.
Thanks to the technological advances of recent years, the scale of the industry is expected to increase. The gaming industry is now poised to face some challenges: the larger operators will readjust and adapt to the new trends, thus gaining more market share, while the smaller operators will suffer.
Specific industry trends in online casinos are being “catalyzed” by the epidemic and are expected to become more prominent this year. So what are the major trends in online gambling in 2021?
You can tell that mobile gambling hasn't been uncommon for a long time. Nowadays, smartphones are indispensable in the life of modern man, and more and more people prefer cell phones as a tool for entertainment. Yes, this is really true. Thanks to the convenience of mobile devices now many gamers prefer them to computers. But after all, until recently, gambling providers didn't have much reason to focus on such players because smartphone technology wasn't as advanced as it is now.
The number of smartphone users worldwide reached 3 billion in 2019, and according to analysts, that number is steadily growing at about 270 million per year. In addition, some studies have shown that about $92.1 billion was spent on gaming apps in 2019, and that amount is expected to rise to $106 million by 2021.
The number of new smartphone owners expected by 2021 leads analysts to believe that mobile gambling will become even more popular in the future. This trend has already been confirmed in the past few weeks, given the current crisis and related global constraints.
In addition, almost half of the world's population still does not own a smartphone, so the increased use of mobile devices in the future will likely lead to an increase in mobile gaming as well. The number of smartphone owners and users is expected to grow steadily for the foreseeable future, and online gambling is certainly one of the industries that will benefit from this increase.
On the other hand, mobile gambling apps will also improve. Online casinos, sports betting and poker sites are making great strides in graphics and navigation for mobile users. The gaming industry will continue to improve the gaming experience and therefore will continue to strive to fully optimize its offerings. Many experts claim that online gambling sites will focus more and more on attracting players to their mobile apps in the coming years.
According to various estimates, 50% of smartphone users used mobile gaming in 2020, and that number has grown tremendously due to the introduction of restrictions in land-based casinos. Thanks to the anti-epidemic measures taken, more and more players believe that online betting is not only more convenient, but also safer.
It's likely that even when quarantine measures begin to ease and physical casinos resume normal operations, the previous revival in casinos won't happen right away. This is also the reason why many physical casinos have started to roll out an online business – they realize that the online casino's position in the gaming industry will be more stable.