Online Casino Industry Growth and Trends 2020/21
Monday 14th December 2020
With technological advancement and internet penetration worldwide, the online casino industry has grown beyond everyone's imaginations. Europe is one of the markets which has witnessed tremendous growth across different countries like the UK, Italy, Germany, Switzerland, and others. The growth trend for new casinos during the 2020/2021 period points upwards, with JackpotCity Online Casino being among the leading operators.
Here are the latest casino gaming trends influencing growth in the casino and gambling industry in the 2020/2021 period.
Changing Consumer Habits
With smartphones' use on thev rise, both social and mobile gaming has a significant impact on the online casino industry. That has increased the number of mobile gamers, with over 1.6 billion players choosing their smartphones for gaming. This growth has also prompted game publishers to create more free-to-play games.
While free-to-play games don't create direct income or profits, many players consider them more entertaining and can bring in revenue in other ways. In most cases, players are willing to spend small amounts of cash buying upgrades to access different desirable features. That shows that gamers are willing to spend money on entertainment, even when something is deemed free.
A Decline in Land-Based Casinos
With most people trying their best to restrict their movements and maintain social distancing in 2020, land-based casinos have taken a major hit. Since the beginning of the year, land-based casinos have recorded a decrease in rates, especially since players must travel to the casino to enjoy a game. Even worse, most land-based casinos are concentrated on one area like the Jersey Shore or Las Vegas, which might require a significant amount of cash to visit.
Because of the time and cash investment required, most players are choosing to channel the money to online gaming, where they can wager from anywhere. Even better, online casinos have gained an edge over their counterparts as they can guarantee their players' privacy with secure and convenient payment options. Additionally, online gambling platforms offer a more vibrant gaming experience.
Interactive Gaming Systems Are Modifying the Interaction
Most online casinos offer the best content that meets and addresses the expectations of different guests. Different technological advancements are also ensuring that users can access engaging and entertaining online games in a luxurious setting.
With interactive gaming systems, online casino operators are merging social and internet gaming with the real-life casino floor experience. That's because interactive gaming is crucial to most young gamblers, who mostly grew up with interactive gaming experiences offered by Sega, Atari, or Nintendo.
Slot Machines Upgrade
As casinos strive to attract more gamers to their respective platforms, the industry incorporates slot machines with a skill element and not purely luck-based. That's because modern players are looking for engaging and entertaining games and are ultimately bored by redundant content. That's something that most casino operators aren't willing to let happen, as most players quickly shift to other things when they start feeling bored.
With a cumulative growth rate of 8.77%, the online betting market is the fastest-growing global gambling industry segment. Chatbot, Machine learning, and artificial intelligence are taking over the market, as casinos strive to ensure that the players remain engaged and entertained.