Online Casino Industry Expansion – Predictions and Expectations
The online casino industry is forecast to grow at a rate of around 12 per cent each year for the next six years. The industry continues to incorporate new technology not just in terms of Virtual Reality and more recently Augmented Reality but has also embraced cryptocurrencies for the security, anonymity and operational support they offer, particularly for those living in regions where gambling is restricted. The online casino industry is also predicted to expand in a number of other ways:
There is expected to be significant growth in the integration of eSports betting at online casinos. There has been a crossover between sports and casinos for some time, with bwin, the premier sports betting platform, launching its online bwin casino in 2001 which has a strong presence in central Europe and a licence in the US state of New Jersey and more recently Russia. eSports betting will not be just for traditional sports but include professional gaming tournaments like the League of Legends.
Wider acceptance of cryptocurrencies
Cryptocurrencies are convenient and secure and have been working well for many online casinos. The industry predicts that more online casinos will embrace cryptocurrencies which over time are likely to replace old methods of payment. The benefits of increased safety from identity theft or hacking plus anonymity will drive the change, with some online casinos offering generous bonuses to those playing with crypto funds.
Online casinos are accessed by smartphones by the majority of players, but this is expected to increase in 2021 and beyond, with software developers focused on creating HD games on gaming apps that have the same quality as at a casino. To encourage new players to online casino sites, online casinos will continue to add free-to-play (F2P) games for entertainment, with some players expected to become paying clients in the future.
Virtual Reality (VR) and Augmented Reality (AR)
Virtual reality software has been shaping the gaming industry for more than a decade. VR is forecast to provide a more immersive casino experience for those playing at home. The expectation is that VR and AR will extend further in the industry, with AR expected to offer players a 3D, 360-degree gaming experience without the need to differentiate between the physical and digital world. Players at home will be able to go online to sit at a table with a live dealer with real-time chat.
Slot Machines with skill
In another attempt to encourage younger players to sign up, the casino business has started to include a skill requirement in slot machines that will attract those who have been used to Xbox and Playstation gaming.
Smartwatches offer iGaming Experience
The smartwatch industry is worth around USD33 billion worldwide and is a market that casinos are keen to be connected with. Betting is already possible on a smartwatch and wearable technology will continue to be popular with gaming software developers creating new games for these devices.