Will Online Gambling Benefit if Brick-and-Mortar Casinos Close Again after the Summer?
By Space Coast Daily // August 20, 2021
Worldwide, the number of people expected to be affected by the highly virulent Delta variant of coronavirus is expected to rise. A summer wave of infections, hospitalisations and deaths is “likely” according to the London School of Hygiene and Tropical Medicine, whether or not restrictions are lifted.
Even if curbs are not re-imposed on hospitality and entertainment businesses, considerable uncertainty about the scale of the expected resurgence in infections and hospital admissions will keep many away from enclosed places, including brick-and-mortar casinos.
Since early 2020, online casino industries have been thriving as they are more accessible to customers. Gaming enthusiasts can find the best site to enjoy table games, video poker, and slots via Bovada Online Casino. Games can be accessed via mobile devices as well as desktop PCs that offer an experience as close to land-based casinos as possible thanks to AR and VR.
As the world continues to deal with coronavirus variants, new players are signing up to online casinos who may never have been to a traditional casino. The industry is well aware that it offers a means of escape from everyday realities and whilst the potential closure of traditional casinos after the summer remains a subject of speculation, the industry is seeing a steady increase in the number of new online accounts and is targeting advertisements in this direction.
Stay-at-home restrictions may have bought new players online, but the ability to play online whilst at home, and therefore not having to pay out for childcare, transport and refreshments whilst out make this an entertainment option that many continue to enjoy even when restrictions no longer apply.
Explosion in online casino popularity
Huge advances in technology incorporated into online casinos are expected to make them even more popular and profitable. Industry experts forecast the industry will be worth more than USD127 billion by 2027. Here are some of the reasons why:
Limited live sports action
The demand for online casinos originally exploded early in 2020 when people were looking for entertainment when live sporting events had been cancelled or postponed. Playing online was found to be a good source to relieve stress by having fun.
The market is now estimated to be worth around USD60 billion with vast growth due to it now being legal to gamble in Germany, Spain, Italy, Malta, France, some states of the US and other regions. In particular, the Asia-Pacific region is expected to see the highest growth rate due not just to the legalisation of betting, but also to an increase in disposable income.
Secure digital payment options
Improvements in secure digital payment options have also contributed to growth, with the use of blockchain technology in the business set to continue, encouraging growth in the industry into the next decade.
Demand for digital currencies, which rely on blockchain technology, has also grown. Online casinos have become among the first online businesses to accept crypto payments which allow players to enjoy online casino games anonymously and at casinos where all transactions can be traced to show that not only are bets safe, but games can be checked for fairness.
It is now possible to access an online casino site from anywhere, whether on the daily commute or at home. Advances in smartphone technology, powered by 5G internet connectivity, has allowed more people to access high-speed online gambling than ever before.
With smartphones, more affordable than ever before the numbers that are able to access online casinos via targeted advertising is automatically increasing.
AR and VR have created more immersive experiences for online casino enthusiasts for an experience similar to being in a traditional casino, being able to talk with the croupier in live dealer games as well as other players around the table who could be from anywhere in the world.