The gambling global market report for 2021 indicates that recovery is well on its way. Highlights from the report tell of the changing casino industry worldwide such that:
- The global gambling market will reach 516 billion dollars at the end of this year in spite of covid restrictions
- The gambling industry has increased worldwide as online casinos are accepting different forms of currency, particularly cryptocurrency
- At present Asia-Pacific regions represent the largest growth of online gambling, accounting for 38% of the 2020 market. Next is North America, accounting for 29%.
Online Casinos and Games
In fact, covid restrictions and social distancing as well as remote working and containment have resulted in an increase in the online casino industry, particularly online casinos and online games. To that end, new casinos are thriving thanks to new games and new game technology.
For example: one of the most popular new games in the world of online casinos is that of branded slot games. As opposed to traditional slot games that might include fun fruit and antiquated numbers, branded slot games are those built around universally popular characters from television shows, movies, music, or books. Branded slots are statistically better able to attract casual players and players who have little experience when it comes to online games. Branded slot games create a connection with casual players because of the familiarity they have with the theme such as fans of Jurassic Park, Game of Thrones, Batman, or Westworld. They enjoy playing slot games that utilize those shows and movies as well as the characters and plot arcs within them.
Gambling habits have also changed over time. The demand for gambling has increased as players have adopted mobile devices as their primary device for online gambling particularly during the covid lockdown. As such, game technology for brand new online casinos has advanced so that it provides increased opportunity and similar experiences whether players are using mobile devices or a laptop or desktop. Tangentially, more players are adopting social casinos whereby they share their activities and their achievements in social settings on social media pages. To that end, new game technology has resulted in additional social structures with gamification that offers better rewards and achievements easily shared through social media.
Casino Markets Worldwide
Recent reports indicate that by 2027 the worldwide Casino industry is expected to reach 159.3 billion dollars in profits. growth is forecasted in the Asia-Pacific region at 4.5% over the next six years with the United States projected to reach an estimated 68.9 billion dollars in profit. During that same time frame Canada and Europe are each forecasted to grow at 3% and 3.3% respectively.
What are the most notable new trends in casino markets worldwide?
- Firstly, there is a growing rate of gambling participation from women. More women than ever before are engaging in online games, especially those that have a relatable theme based on popular television shows, movies, or music.
- Around the world there are significant market changes, such as in the United States where restrictions heavily impacted physical casinos but resulted in a higher rate of mobile gambling devices particularly in places like Nevada. In Canada, favorable iGaming laws have resulted in increased gambling. Europe has seen an increase in online gambling particularly when it comes to slot games. France has shown record highs for interest in gambling tables and physical gambling machines while Germany, by comparison, has shown an increased interest in gambling tables and online casinos. The United Kingdom has seen an incredible increase in the number of younger people engaged in online gambling and those who are engaging in online games by way of participation or viewership.
- At present some of the most notable themes include the rising popularity of online casinos played through mobile apps. The use of mobile games has risen because of so many restrictions that have forced people to find their forms of entertainment through an accessible mobile device while at home under lockdown.
- The online casino market is projected to increase significantly because of different payment options and the wide array of welcome bonuses they offer. This is particularly true of online casinos compared to traditional casinos as they have to offer more enticing bonus structures and rewards to cultivate customer loyalty in a more highly competitive environment.
- Slot games and video game themes built into online slots are driving consumer gambling particularly among the demographic of people who may previously have been considered casual gamblers with very little exposure to casinos.
In conclusion, the future of the casino and gaming industries appears to be bright and getting brighter. Trends continue to favor online casinos but this may change as the world begins to recover from the pandemic’s effects. One thing is certain: casinos are not going anywhere soon.