Do you also agree that the market size of the casino industry will grow in the upcoming years? Many trends keep rising to make this foreseeable. Currently, we can speak of innovations that have taken place in various industries leading to their ultimate growth.
Industries that were quick at the adoption of the latest trends are now happy about the returns. They are currently making headlines whenever top industries get mentioned. Among them is the casino industry.
The industry has gone through rapid changes, making it rank among the best today. Its shift from offering offline services to online has made it experience rapid growth in revenue and users.
Our gaming expert Daniel Bennet (check his profile), supports the anticipation of the industry’s growth in the upcoming years. Read on to understand from his perspective.
Is the expected growth possible amidst the pandemic?
Most Canadians could be wondering how the expected growth will be possible in the presence of the global pandemic. That’s due to what they witness in the physical casinos. The majority of them shut down because their revenues went down.
Others did so because there was a need to adhere to the World Health Organization’s strict regulations. However, the Pandemic did not affect the online sector negatively. You will realize that online vendors have been growing both in revenue and customer base if you have been following the trends.
The Canadian casinos have not been left out. They also experienced growth in their market size and increased their gaming services, making it convenient for the Canadian players looking for them.
Which factors will fuel the expected growth?
The continued increase in mobile gaming
The shift from physical casinos to online casinos led to impressive inventions, including mobile games. As a result, players started playing their favourite games on their mobile phones.
It provided them with the convenience they needed. Although PC gaming for some time got overrated, smartphones emerged to give the players the comfort they required when gaming. Currently, there are downloadable apps for mobile phones, and players don’t have to access the games from the websites.
The availability of free-to-download games shows that by the end of 2021, the mobile gaming sector shall have experienced an increase in players by about 59%. That will, in turn, increase the global gambling market size.
Acceptance of digital currency by the majority of the casinos
The methods of payment that have existed in the past have been inconvenient to most Canadian players. Some have been causing delays when they make transactions to their favourite gaming sites. But currently, there are a variety of transactional methods with the casino sites.
The emergence of digital currency has enhanced convenience when doing transactions. Some casinos allow the use of bitcoins and other cryptos.
That also keeps attracting many players to join them hence growing their user base. A bigger customer base translates into better revenue. That’s what is expected to happen in the casino industry.
Availability of a variety of games
No one wants to visit an online vendor and lack what they need. That’s the same case with online casinos. No one wants to join a casino site and miss their favourite games. That’s why the majority of the Canadian online casinos have the best casino games collection.
The increased availability of better online casino games provides the players with great convenience, thus encouraging them to play more. More playtime means more revenue. An increase in revenue means the iGaming market size will also grow bigger. Companies will also create more games that will meet the rising demand in the industry.
Increased use of virtual reality
Virtual reality is a technology whose time has come. Although it has been here with us, it’s increasingly being utilized in the igaming sector to develop better gaming equipment. Currently, there are iGaming headsets that have dramatically attracted everyone into gaming.
The world continues to accommodate this technology through various industries. The casino industry, being one of them, expects to grow its online gambling market size 2021 through it. The technological trends that keep coming guarantees the growth of the casino industry. That’s considering the impact the previous trends have had on it.