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Trends Transforming the Gambling and Casino Industry

Trends Transforming the Gambling and Casino Industry

It is no secret that the Covid-19 Pandemic has accelerated the adoption of technology worldwide. People are now more open to accepting the digitisation and automation of most products and services. 

Online gambling and the casino industry is no different. With the fast pace that technology is moving at, it is no wonder that online gambling has become more accessible and more rewarding. 

Here are some of the major trends that are transforming the gambling and casino industry in 2021. 

Cryptocurrency

Now that cryptocurrency can be used for online gambling, many are jumping aboard to place their bets with this digital currency. One major reason for this is that cryptocurrency cannot be traced – as no personal information is tied to it. Crypto allows the gambler to keep their anonymity. 

Cryptocurrency is also being embraced amongst gamblers as it allows for secure trading. Fraudulent activities can be lessened by making use of cryptocurrency. As stated before, no identity is tied to it, so should fraud be committed, the gambler will be able to keep their personal information and other finances safe. 

It also allows for access in restricted areas. Where online gambling had been outlawed or declared as restricted, gamblers can now make use of crypto to bypass those restrictions. It allows gamblers to enjoy their online gambling experience, but also creates the perfect opportunity for casinos to tap into the under-served market. 

VR gambling

Virtual Reality (VR) gaming is at an all time rise. This is due to the easy accessibility of VR gear and games to the public. The manner of gaming has been accepted with open arms in the gaming community as it allows for a more immersive experience. 

There is a push for online gambling casinos to take the opportunity to create VR gambling experiences. It will allow for a more realistic gambling experience and could possibly attract more customers. 

A VR gambling software company, Lucky VR, has developed SlotsMillion. This is a platform that is a VR casino experience, it boasts 40 slot machines that are accommodated on the 80th floor of a skyscraper. It also allows for other activities, like checking out the view from the window or having a drink at the casino’s bar.  

More rewarding 

Most people have access to the internet and have smartphones which they use for gambling. This means that there is a larger demand for online casinos and gambling. Now that online gambling is becoming more accessible and more immersive, it has created huge competition. 

New gambling companies are springing up overnight to also take advantage of the easy accessibility. But, to put their names out there, they offer large payouts and bonuses to attract more customers. Gamblers benefit from this competition as it allows them to win larger amounts of money and jackpots. 

Another way that these online gambling casinos are attracting more players is through the use of sign-up bonuses. A player gets a bonus for simply creating an account with the gambling platform. Some even reward the players for simply signing up for their newsletter or following them on social media. 

gambling industry

Change in habits

There has been a change in habit for online gamblers. Now with technology advancing and smartphones being more accessible and advanced, players prefer to make use of their phones to gamble. 

Online gambling companies have seen this opportunity and have created Free to Play (F2P) games that allow players to play without paying any money. However, nothing is ever free. These games do not bring in direct revenue, but companies have found a way to rope players and their money in. 

Over decades it has been proven that people are willing to pay for entertainment. When a F2P player enjoys the game they are playing, they might opt to upgrade to unlock new and better features. That is how companies rope in these online gamblers, and they go in large numbers. 

More live dealers

One thing, besides winning, that has always attracted gamblers to casinos has been the witty dealers. With technological advancements, players can now experience live dealers from the comfort of their own homes. It creates more opportunities for the players to be interactive and it allows the experience to feel more realistic. 

Companies like Betway have created the opportunity for players to take part in live casino games like Blackjack and Roulette. This has allowed them to have a competitive advantage over other companies that don’t make use of live dealers. 

A decline in land-based casinos 

It should come as no surprise that the number of physical casinos is seeing a decline. This has been accelerated by the Covid-19 Pandemic that forced people to stay home. Players realized that they don’t have to leave their house and travel far just for gambling. In the end, going to a physical casino costs more considering travel and meal costs. 

Not only does it cost more to visit a physical casino, but it also only provides a limited amount of games. And, on top of that, those games are rarely upgraded where online versions continue updating. All of that from the comfort of their own homes, at any time, that they wish. 

These trends will continue to change the gambling industry forever, and having a payment partner that evolves with it can be beneficial. Take a look at what PayPugs has to offer to online gambling companies. 

We believe that collaboration with online gambling and betting sites should lead to innovative approaches for recognising and verifying good customers, all while providing a reliable online experience. PayPugs offers a great solution to companies in this industry, book a call with us to see how we can help you. 

Join the collaboration platform designed with collaborators, freelancers, start-ups, organisers, project managers and business owners in mind.

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