2020 was an unexpected year that brought on a lot of changes, affecting the online casino industry – among other things. But are those changes here to stay? What will online gambling look like in 2021?
Let’s review what experts believe this year will look like and what kind of gambling trends we will encounter!
While COVID-19 hurt the gambling industry in many ways, it also opened some unexpected doors. New gambling opportunities are bound to emerge in 2021, as the world is adjusting to a new reality.
So, what does the upcoming year have to offer us? How will the recent changes affect the industry?
In the past year, online casinos attracted hordes of new players. In Australia, a survey showed that 1 in 3 participants created an online casino account during the pandemic. Also, the number of people who gambled at least 4 times a week increased from 23% to 32% [source]. In the UK, however, a similar survey revealed that only 15% increased the time and money they spent on gambling. But even though the number of players in Britain remains largely the same, the demographics shifted drastically. In 2019, 13.8% of UK players were under the age of 24, and 25.1% were 35-44 years old. But in 2020, the numbers increased to 16.9% and 29.3% respectively. That serves to show that players are now younger than ever, and it might have a serious impact on our society in the future [source 1] [source 2].
While online poker revenue in the US has increased exponentially in the past year, the excitement surrounding poker will probably die down at online casinos USA. Even though estimates show the online gambling market will reach $127.3 billion by 2027, the growth won’t be as fast as we’d first imagined. Even now, land-based poker rooms begin opening their doors. That means poker enthusiasts go back to live games instead of sticking with online poker.
Under Trump’s administration, the DOJ in the US revised its stance on the Wire Act. That made it more difficult for gambling venues to acquire a license. However, now that Biden is about to enter the White House, players hope things will change. Players hold their fingers crossed that the DOJ would decide yet again that the Wire Act doesn’t encompass online gambling. Moreover, since multiple states have already passed local laws that allow online betting to occur, the need for a federal policy diminishes. Soon enough, it won’t be relevant anymore.
In the past few years, multiple US states legalized online sports betting and online poker. A few more states are about to join the party, including Michigan and West Virginia. According to experts, sports betting will probably become available in dozens of new states in the next couple of years, but online poker might not be as popular.
If COVID-19 taught us anything, it’s that you can’t guarantee anything. For decades, sports betting was one of the most popular forms of gambling, and in a blink of an eye – it went away. As games were canceled left and right, it became clear that bookies and betting sites will have to be more creative and offer alternative betting options. Apart from the rise of virtual sports betting, best online casinos will probably offer diverse gambling options, including betting on the outcome of the Oscars, political events, and so on.
The gambling industry has changed forever, and the upcoming year is bound to be an interesting one for every gambler across the world. Let’s wait and see which of the predictions we’ve made will come to be!
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