According to Google’s algorithms, an economic boom gets defined as prosperity, affluence, plenty, and richdom. These words perfectly define the online casino industry in 2021.
It’s somewhat of a perfect storm happening with ongoing regulations, legalization, and the COVID-19 pandemic. And almost half the world’s population now has a smartphone.
Online gambling worldwide has become a massive cultural phenomenon that shows no signs of abating.
2021 Casino Industry Key Takeaways
The biggest takeaway of the casino industry in 2021 comes from the coronavirus pandemic. Keeping people indoors due to lockdowns and other restrictions exacerbated online growth.
A 2020 report projected the online gambling market could reach $158.20 billion by 2028. That’s more than double the 2021 amount of $74.17 billion.
In Australia, online wagering increased by 67% in April 2020. It grew by 17.5% in the U.K.
Europe had the most outstanding share of online gambling at $30.92 billion.
The online casino market in the U.S. state of New Jersey was worth over $108 million in May 2021. With more than a dozen online casinos and poker rooms, the state leads the country in internet gambling.
The industry as a whole projects plenty of post-pandemic growth. Partnerships between top companies and their competitors should continue, as well.
The Future of the Online Gambling Market
The future of online gambling lies in its ability to generate revenue. With governments worldwide embracing public assistance programs during this pandemic, eventually, that money has to come from somewhere.
Hence why so many U.S. states legalized sports betting in the last year or so. The biggest reason that the industry has seen such unprecedented growth comes from the online gambling market.
Now that cryptocurrency is slowly but surely becoming mainstream, new projects seem to come out of nowhere. Whether it’s an online casino based solely on a digital currency or live dealers right from your phone — the possibilities remain endless.
Economic forecasts continue to project an extremely bright future for online gambling.
The next decade might become the most profitable for the online casino industry.
5 Gambling Trends for 2021
Some of the biggest gambling trends for 2021, as mentioned, seem to be expansion, accessibility, and consolidation.
For starters, let’s consider mobile apps and social gambling.
Mobile Apps and Social Gambling
Mobile apps associated with casinos and sportsbooks have become a new industry trend in 2021. This probably has a lot to do with the legalization of sports betting across the U.S.
The largest companies will want to stay ahead of the game. So, the pandemic forced a lot of casinos to go mobile.
This provides social gamblers with the chance to play right from their smartphones.
Any time, anywhere. (So long as they’re in a legal jurisdiction with a registered account.)
Daily Bonuses and Promotions
With an increase in gambling growth, there’s bound to be a lot of competition. Companies deal with new competitors by promoting their business to potential customers.
That happens through advertising bonuses.
Once you get your email registered on a platform to create an account, a daily influx of messages may appear.
Casino bonuses come from sign-ups, deposits, slots, table games, free spins, etc.
All you have to do is contact customer service. They might even cater a bonus or promotion specifically for your account.
These “freebies” always come with a hitch. So, pay attention to the terms and conditions to see which casino offers the best option for you.
Cryptocurrencies for Deposits and Withdrawals
In 2021, cryptocurrencies became popular among more than just a cult following of techno-geeks. Most of the most well-known gambling companies in the industry now accept deposits in bitcoin.
Due to its anonymity and ease of transferability, online casinos might prefer bitcoin transactions. (You may even find bonuses and promotions geared toward cryptocurrency deposits.)
At the end of 2020, Paypal started to allow its customers to buy and sell Bitcoin, Ethereum, Litecoin, and Bitcoin Cash directly on its platform. This week, the same happened for customers in the U.K.
The largest companies in the world now see the enormous potential of cryptocurrencies for digital transactions as an inevitable part of the future. In that respect, online casinos are no different.
Live Dealers for Table Games
Another industry trend for 2021 derives from live dealers. This new way of delivering a gambling experience to consumers might have a lot to do with the coronavirus pandemic.
So much of the industry’s business had to be put on hold during lockdowns. So, it’s no surprise that online casinos responded by acclimating to that change.
Now, almost every online casino offers gamblers the opportunity to engage with live dealers.
It’s like visiting a casino right from your couch.
Artificial Intelligence (AI) to Collect Consumer Data
A final trend, but maybe the most significant, comes from the ability of online casinos to collect data. With artificial intelligence, companies can now build player profiles.
What does that mean?
It means that the online casino you use can detect your gambling behavior. The purpose lies in enhancing the user experience by customizing promotions.
This might not seem like a big deal, but actually, it’s one of the driving forces in the world of sports betting. Gambling companies now aggregate enormous amounts of data for professional leagues.
That data gets delivered to broadcast media in real-time.
Online casinos translate to improving customer service, protecting from fraud, and getting the best deals based on your gambling habits.
For more on the most trusted and reliable online casinos, it wouldn’t hurt to do some research of your own.
It might be hard to find any other industry that’s projected to do as well as online gambling in the next decade. The boom asserts itself through constant advances in technology.
With so much revenue coming from online casinos that anybody can carry around in their pocket, ongoing legalization seems like a no-brainer.
What are you waiting for?
Check out some of the available options in your jurisdiction today.
Bryan Myers is a freelance writer from the U.S. In 2019, he traveled to 12 countries around the world. He also teaches English online. Currently, he’s living in Da Nang, Vietnam. He’s been writing for Safest Betting Sites since August 2019, covering the 2020 U.S. Election, entertainment, crypto, online casinos, and sports betting.