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Online Casino Industry: Forecast for 2021 and Beyond

Online Casino Industry: Forecast for 2021 and Beyond

With new technological advancements and changing customer behavior, the online casino industry is currently going through some big changes. Here are the predictions for 2021 and beyond.

The Coming of Cryptocurrency Casinos

Nobody knew how much cryptocurrency would rise to penetrate the financial market when the concept was introduced to the public in 2009. Although the rates of currencies like Bitcoin and Monero continually rise and fall, cryptocurrency has proved it is here to stay. Only a few online casinos currently offer Bitcoin payments as an alternative to other payment methods, but as cryptocurrencies continue to increase in popularity, we can expect to see more and more casinos offering digital currency as an option in 2021 and beyond. You will still be able to use other payment methods at online casinos, like the excellent Kazoom casino, to play games such as slots and roulette.

A Continued Rise in Mobile Gaming

According to GameAnalytics, players of mobile online games grew by 46%, from 1.2 billion to 1.75 billion per month, in 2020. And Newzoo predicts Android games will account for more than half of all mobile game revenue by 2022. A large proportion of those gamers play casino games. In recent years, online casinos have been accessed on mobile devices more and more and we are sure to see that trend continue in the coming years.

Reason for the surge in popularity of online mobile casino games is not only the fact that you can play the games from any location, but that there has been an increase in free-to-play applications on iPhones and Android devices. With 5G currently being rolled out around the world, mobile casino gaming will only get better, making games smoother and lag-free. 5G phones like Nubia Red Magic 5G, Asus ROG Phone 3, and iPhone 12 will also help to enhance the mobile casino gaming experience in 2021.

Increasing Competition

It may look as though the online casino industry is thriving, and indeed, it is. However, more and more online casinos are coming to market all the time. That means it is often difficult for new casinos to become recognized, and established casinos have to up their games, so to speak, to remain as iconic brands. A saturated market brings disruption and pressure to any industry, so online operators need to stay ahead of the competition and continually come up with new marketing strategies.

The Rise of Virtual Reality

Virtual reality has been slowly creeping into popularity for some time, and it now seems like we are on the verge of a VR-driven technological world. As VR headsets continue to become more advanced, the gaming experience follows suit. It is getting realer and realer all the time. We may not yet be capable of producing an environment like that of The Matrix movies, but the idea does not seem as implausible as it once did.

More and more fantastic virtual reality games are coming to market these days, and that includes VR casino games. At the moment, they are available in some in-person casino rooms, but the next step is to incorporate virtual reality with the digital sphere. In the years to come, expect to see online casinos adopting VR technology more and more. In the future, you may be able to play a game of blackjack or roulette in a virtual environment like the bottom of the sea or at an Elvis Presley concert. You could even get to play poker with the King himself! The possibilities are truly endless.

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by Harvey Carr // Harvey Carr is a contributor to Businessing Magazine.

Opinions expressed by contributors are their own.