Why Online Gambling industry is expected to continue growing?
From broadband internet to smartphones to IoT to VR, online gambling has gone from strength to strength, building a multi-billion dollar industry over the past couple of decades.
For most industries, 2021 and what we’ve seen so far have been extremely tough. However, there are certain industries that didn’t just weather the storm but have actually stronger than ever!
Online casino is one such industry. It have been on the rise ever since the internet was able to offer safe, secure and stable virtual gambling experiences and has seen major increases with each new technological innovation.
With the rise of online casinos there was also a need for regulation, a governing institution to protect customers from illegitimate sites and to ensure that online casinos play by the same rules as their brick and mortar counterparts.
What of 2020, though? How could a year that was this tough on so many result in an industry that thrives on disposable income grow ever stronger, such as regulatory bodies finding a 25% growth in Spanish online gambling.
Considering how most of the world was stuck in doors throughout 2020 and are only now starting to safely venture out into the wide world again, home entertainment has gained all new traction over the past 16 months.
Streaming services like Netflix and HBO Max saw their memberships balloon exponentially and video games became an even more attractive alternative to real sports. By the same token, online casinos offered easy entertainment from the comfort of your home that can keep you occupied for months.
While it’s certainly true that disposable income took a hit in 2020, the promise of distraction from grim reality meant that any money normally bookmarked for a night on the town was instead dedicated to home entertainment.
Online casinos offer a couple of extra advantages that include the ability to emulate a real-world experience of going to a casino, it also allowed people to try and increase their disposable income on online poker, slots or blackjack games.
This hasn’t been limited to any one country either. Whether Malta, Australia, the US, Spain or India, the opportunity to hit an online casino instead of the real thing made online gambling industry worldwide a real boom last year and 2021 looks set to continue.
Editing by Rachel Hu