Online casinos are taking over the world. In fact, more than 80 countries have legalized online gambling in their respective territories. More than half these countries are in Europe, which is where most of the growth in online casino gaming has been happening over recent years. In the U.S., states like Nevada, Delaware, New Jersey, and Pennsylvania are spearheading the growth of this market within our own shores. There are several reasons for why the online casino market is growing at an exponential rate and is set to take over the gaming industry.
In a Business Wire report, industry experts reveal that despite the current woes in the global gambling industry, online casinos are finding ways to thrive. Much of this has to do with how web-based casino providers are moving towards digital payments for transactions, which has become the preferred exchange method for players in the ‘new normal.’ And while legalities once plagued the market’s growth in the U.S., the growing demand for online activities are slowly but surely loosening existing regulations, resulting in a friendlier market for web-based casino providers. Of course, this isn’t to say that the current crisis is the sole reason why online casinos are getting more and more popular.
For instance, the use of live online dealers has also been hailed as a key turning point in the popularity of web-based gaming portals. This is due to how live dealers have made online gaming closer to the physical casino experience. Much of this development can be traced to the efforts of leading provider Evolution Gaming. Apart from reporting staggering profits this year, the company is also reportedly aiming to further strengthen its position in terms of developing live dealer casino experiences, which it has identified to be crucial not just for growth but also minimizing business risks. This growth is unsurprising as Evolution Gaming has worked with top UK providers for many years. Working with Paddy Power since 2009 has helped the company develop and roll out the use of live dealers in web-based traditional games like blackjack, roulette, baccarat, and other activities typically found on the casino floor. Alongside working with Paddy Power and other UK and European providers, the company is also reportedly in the process of acquiring NetEnt, another leading developer in market-leading online slots and casino games in both Europe and the U.S. Considering Evolution Gaming’s success with live dealer-based games this year, we can expect more development in this particular online gaming sub-genre on a global scale.
Meanwhile, nearly the same can be said of the growing use of Bitcoin in several online casinos, which is something that has also been in development over recent years. While cryptocurrency is not as popular as fiat currency in online casino gaming, the web-based gaming market may soon change even that. Supported by how providers have also been moving towards more digital forms of payment, blockchain and cryptocurrency will no doubt continue to play a large part in the growth of online casinos.
Meanwhile, as the global health and economic climates remain uncertain, loosening restrictions have afforded some physical casinos with the chance to resume live events. However, brick-and-mortar facilities will still have a long way to go before they can fully recover from the global events of this year. And while the land-based gambling market struggles to navigate the industry’s new normal, its web-based counterparts on apps and browsers have been faring much better.