Where Is the Online Casino Industry Heading in 2020?
The online casino industry is one of the fastest-growing industries in the world. It has seen massive expansion in recent years, more than most people expected. With this shift in the market, many are left wondering what will happen in 2020.
More people staying at home due to the state of the world right now, it is expected that the casino online industry will continue to grow. However, as it grows, there will be changes to the industry that affect consumers. Luckily, most of the changes will be beneficial to consumers and casinos alike.
A Decline in Live Dealer Casinos
As the casino industry trends toward more online casinos business models, it is expected that there will be a decline in live dealer casinos. Although there is no data available on how many live dealer casinos have been put out of business, it is a well-known fact that many have closed their doors. This had started in recent years but was amplified by the Covid-19 pandemic.
With people unable to go outside and go to casinos, they shifted their focus online. It is expected that more and more companies will move their casino online. It is more cost-effective and more accessible.
Many believe that live dealer games will return at the end of the health crisis. While some certainly will, do not be surprised if many casinos stay online. They may realize that running a business is more cost-effective than in person.
A Change in Gambling Habits
One thing many online gambling competition casinos may notice in 2020 is a change in gambling habits. Customer behaviour has changed due to an increase in the popularity of social gambling. With these trends, it will surely promote growth in the casino industry in 2020.
You can also expect free social gambling to affect online casinos going forward. Although revenue is not directly generated through things like free-to-play games, they do impact virtual sales. These virtual sales drive more people to online casinos, which will help the industry.
Expect Cryptocurrency to Dominate in 2020
Cryptocurrency has become one of the most popular topics to discuss over the last few years. However, the actual use of cryptocurrency is relatively limited. That being said, the online casino industry is one that could take advantage of the technology.
Many online casinos are already allowing the use of some cryptocurrencies. You can expect that trend to continue in 2020 as they become more legitimate forms of payment. This will help grow the industry as it is more easily accessible for some players.
Cryptocurrency is also beneficial because of how sensitive this industry is. Many players prefer to remain anonymous, and they can’t do that if they pay directly from their bank. However, if they use cryptocurrency, they can stay as anonymous as they like.