Most experts seem to be united in the opinion that the gambling industry is going to continue to thrive over the coming years. The 2020s have seen a period of growth, especially in certain parts of the gambling industry. As we know, things can change extremely quickly if there is a new technology introduced or new trends in the market. So what should be expected from the gambling industry over the rest of the 2020s?
Crypto Will Continue to Thrive
According to SoftSwiss, 30% of bets placed and money staked at online casinos is now in the form of cryptocurrency. Other estimates are even higher. Ten years ago, there were barely any options to gamble online using cryptocurrency and now it has become fairly mainstream. Experts expect that to continue, and some even estimate that most gambling will involve cryptocurrencies.
There are many reasons why so many consumers are turning to crypto and staking their bets via a Bitcoin casino. Bitcoin offers extremely fast transactions, as well as increasing the security level for consumers and taking the middleman out of any transactions. There is no need for a bank to be involved when depositing or withdrawing.
Bitcoin casinos offer a huge number of games, and as well as some of the traditional games that gamblers are used to such as poker and roulette, there are other options such as specific crypto games like Crash. These have become very popular in recent years but won’t be found on sites using traditional currencies.
Crypto could also be worth more by 2030. While nobody knows for sure, Techopedia estimates that the value of cryptocurrency could be between $69,000 and $100,000 per Bitcoin by the time the decade ends. The prices can fluctuate and may go down as well as up, but the growing use of Bitcoin, including the use in online casinos and industries such as real estate, means many industry experts expect the rest of the 2020s to see growth.
Live Casino Games Will Be Even More Popular
The idea of connecting with a live dealer is still appealing to a lot of people, and this is something that we expect to continue to grow, too. Live dealer games bring their own set of complications. For example, the demands on the server with HD video being streamed to numerous devices. However, modern casino brands are working out new ways to solve these problems and bring live dealer games to the masses.
IG Tracker shows a live table of the number of gamers in the lobbies of certain online casinos and shows that the average number of players now online at any one time is now five times what it was as recently as 2021.
Some People Will Still Play In Person
The market for casinos in person is very likely to still exist, and many casinos are finding a way to offer both in-person and online gambling solutions.
A study by the UK Gambling Commission found levels of in-person gamblers to be at around 18% of the population, very similar to the number of online gamblers. Online gambling has caught up in this regard, as the highest the in-person number has been is around 24%.
A quick look at some of the big brands in the world of gambling will show that in-person gaming is still popular and thriving. Genting Casino is one example of a big brand operating in the gambling industry, and its annual profits are in the billions of dollars. Genting does have a small presence in online gambling but their business is mainly built around the physical casinos they have.
AI May Provide a More Personalized Experience
Most people agree that AI will change the way people gamble, but it is not exactly sure the shape this will take. According to BetMGM, one of the ways that AI may be most useful is in spotting problematic patterns before they become a problem and helping with responsible gambling.
AI in the gambling industry may help in the world of sports, as both sportsbook companies and gamblers look to analyze statistics and odds in more detail. It is also possible that AI could provide a more personalized experience in the form of recommendations and help users to find games they may enjoy more than others.
Of course, all predictions are educated guesses regarding the future of the gambling industry and what might happen. In the world of technology, and a huge industry like the gambling industry, it is possible that change can come about quickly. It is likely we’ll see some evolutions nobody could foresee, but it also looks likely that AI, cryptocurrencies, and live technology will all play a huge part in the coming years.