While some industries may have suffered significant losses due to the pandemic, various digital sectors have grown massively. The online gambling market is an example of such an industry. When traditional land-based casinos began closing their doors to customers to promote quarantine and social distancing protocols, the online casino industry, especially the top paying online casinos, saw a significant increase in the base of users. This has caused the online gaming industry to experience a substantial increase in cash flow and user acquisition.
Despite the gradual rise in popularity of the online gambling industry, many skeptics wondered if it would sustain this level of growth after the pandemic. Canada, for example, is a very gambling-friendly country, with its own fair share of world-class casinos and betting establishments.
However, during the pandemic, many of these land-based casinos have been forced to close. Due to the country’s favorable online gambling laws, finding an online casino in Canada is not a problem. This is why many Canadian players have flocked to their favorite websites to enjoy their favorite casino games across multiple platforms.
Canada is now managing the pandemic response very well and physical locations are gradually returning to normal operations. Many people who have made the switch from traditional casinos to online platforms are understandably eager to return to their favorite gambling establishments. Does this mean that the use of online gambling in the country has decreased in 2021? And the rest of the planet?
According to reports, the growth of the industry in 2021 was a direct result of improvements in internet infrastructure and accessibility of mobile devices in various parts of the world. It should be noted that one of the main selling points of the online gambling platform is that it is much more accessible than traditional land-based or even web-based casinos. Mobile gaming platform applications combined with high-speed internet connectivity now allow gamers around the world to play their favorite games no matter where they are or what time of day.
It should also be noted that global trends in cryptocurrency and blockchain technology are beginning to impact the popularity of the online gambling industry. Part of the appeal of online gambling is the anonymity that comes with playing behind a computer screen. Online gamblers can now protect the security and privacy of their transactions with crypto-enabled casino platforms using cryptocurrency and blockchain technology.
These technological, financial and online gambling advancements have given many experts reason to believe that the market will reach US$160 billion by 2026. So, despite the fact that traditional casino establishments are starting to reopen, all the signs seem to point to the industry continuing to grow at a rapid pace. Another major factor influencing the growth of the industry is the growing competition among major players in the field.
Many countries are also starting to relax their online gambling restrictions to allow citizens to access offshore casino sites and play their favorite games. For a more competitive online gambling landscape, some licensing bodies are also making it easier for such players to establish operations in new territories.
By consensus, the most popular online casino games are roulette, blackjack, and poker. Slots, including video slots and themed slots, were also top rated on online casino sites. They have remained popular and profitable for operators year after year. Keno, craps, and baccarat were also popular games in 2021. You may have multiple versions of these games on your site, each with a slightly different theme. It can help you increase your revenue while keeping your customers happy. Poker also has several variations such as video, Texas hold’em, five card draw, Omaha hold’em, and more.
Slot machines are one of the most important sources of income for the online casinos that offer them. Similarly, some operators have seen added value in creating standalone slot sites to meet the needs of players. Slot machines are famous because they are simple to play, have big jackpots and often include bonuses to attract players. Lotteries and scratchers are usually offered by operators who offer slot machines. These are yet another important source of income.
The age of mobile phone users is another key factor in the online casino industry. The 18-35 age group is the most likely to use a smartphone and be interested in mobile entertainment. As a result, they are a possible target audience for smart, user-friendly, high-tech mobile casino games. To maintain interest, operators will need to stay on their toes, always offering the latest graphics, games and technology.
Finally, all trends in the online gambling industry seem to be positive. Even if traditional casinos reopen, there is little reason to believe that the industry will not continue to grow. Based on current data, the projected CAGR (Compound Annual Growth Rate) of 11.49% will make the online gambling industry one of the most lucrative markets in the world.