When the pandemic stroke the world, many businesses were hit hard, some of them even went under; however, some have survived and even made greater profits by shifting to online platforms; gambling is one of those industries that are doing incredibly well in the online platforms. So what is the state of the online gambling industry? And what is the future of online gambling?
Since the invention of online gambling, many gambling companies have popped up, providing many options that might be overwhelming to gambling enthusiasts. However, there are sites such as casinosterson.com that offer analysis, tests, and online gambling reviews of different online casino games, to ensure that the players have a better chance of winning. In this article, we will focus on the future of such sites and how they are working to improve the service they offer.
The State of the Online Gambling Business
As of now, the online gambling industry is surprisingly thriving despite the worlds’ current pandemic situation. Ever since they shifted to online platforms, the gambling industry has earned massive profits. Last year, the international gambling industry’s market size had a net worth of 465 billion US dollars, and this value is expected to go up in the forthcoming years.
Online gambling has not been in the market for a long time; hence, many people have not been exposed to it. Therefore, we expect that online gambling platforms will have more traffic in the coming years, which means more profits. By the end of this year, the gambling industry is expected to hit a whopping 516 billion USD. Thus, the future of the gambling sector is looking brighter each day.
On analyzing online gambling sites as a separate entity, we noticed tremendous growth. In 2019 the online gambling market had an estimate of 54 USD; however, this sector is expected to have a net worth of 127 billion USD by 2027, with a CAGR of 11.5 percent. Gambling companies are making efforts to achieve this goal. Some of these changes include:
- Technological advancements
- Advice offered by experts
- Merging with trusted companies such as Esport
Therefore, if you are a gambling enthusiast, then the fun has just begun.
Advances in Online Gambling Technology
Online gambling sites are making substantial technological moves to ensure growth in the market as they offer the best services to their customers. Here are some incredible technological advances:
Live Gambling
Many online gambling players are now starting to prefer live dealer games and live betting. Live dealer games are available for casino favorites which include poker, blackjack, and roulette. Here the players sit on a virtual dealer and interact with a live dealer. Some sites even let the different players chat with each other. Such sites are available in many countries, including Canada, the USA, France, and so on. The Canadian platforms are pretty incredible and have made tremendous moves to make these games convenient to play.
Cryptocurrency Gambling
When talking about technological advances, cryptocurrency is hard to leave out. Although it is still in its infancy, cryptocurrency is becoming quite popular due to its high value. It is also a very convenient way to make payments for people who have cryptocurrency accounts without converting the money back to the required currency.
Some online betting sites have already started incorporating cryptocurrency in their systems. As of today, there may be gambling sites that only accept cryptocurrency payments.
Wearable Gambling
When online gambling was invented back in the 90s, many people thought that it would fail. However, smartphones came along, and a lot of businesses shifted to the mobile market. Since then, the online gambling industry has become one of the most profitable ventures in the world.
When someone mentions mobile, we all think about smartphone devices; however, things might be different in the future. Wearables, for example, smartwatches, are becoming more advanced, allowing people to place bets with them. With such technology, gambling becomes more exciting.
Virtual Reality
What once seemed like a dream is here, and it is about to make online gambling more enjoyable than ever before.
Dealer games such as roulette and blackjacks can now be more realistic, with the interaction between dealers becoming better due to the virtual reality concept.
With affordable gadgets such as a headset, high-end graphics card, computer hardware, and a powerful computer, you can increase your rank in any of these dealer games with ease due to a convenient interface.
Many people have posted positive reviews on virtual reality gadgets, and if you love playing casino games, we would highly suggest you try them out.
Conclusion
Online gambling is taking over the gambling industry in ways that many people could not have foreseen. And with the incredible technological advances being made, we can only speculate success in the forthcoming years.
By: Steve Jones
