Online gaming and gambling have seen exponential growth due to the 2020 COVID-19 Pandemic. As countries around the world forced citizens to stay home for months on end, the online world received a lot of attention from people sitting at home and getting bored.
Brick and mortar betting platforms suffered the most and will take a while before they recover. Statistics show that in 2020, games sales across the 50 key global markets have risen sharply by 63% thanks to the lockdown measures.
Case in point, digital downloads went up by a whopping 180% in France during the first week of the lockdown, which was 16-22 March of 2020. In Spain, digital sales experienced a 142,38% growth spat, and in Italy, the same case was reported where there was a 174.9% thanks to the lockdown measures.
Bitcoin casino USA no deposit bonus 2021 gaming portal was not left behind; the platform registered a 200% increase in user engagement. As much as regulations to stifle online gambling are still in place, the sector has proven to be the next frontier; especially now there is a global pandemic.
Reports published on Nasdaq.com prove that internet gambling revenues apart from sports betting rose by 66% in the state of New Jersey to hit $65 million in March 2020. Analysis suggests that revenues will surpass $700 million in 202, up from $483 million reported in 2019.
AlphaBeta Australia and Credit Bureau Illion Australia Pty Ltd. did a joint study that showed a 67$ online gaming increase in April 2020 in Australia. The increase is attributed to the non-essential shutdown of services forced up Australian citizens.
Moreover, a recent Global Market Insights Inc. published a study on the online gambling market that shows that the online gambling world market value will continue growing and exceed a $160 billion market share by 2026. The reports cite smartphone adoption as the reason why online gambling is on the rise.
The continuous rollout of cheaper internet coverage infrastructure across the globe provides easy accessibility to casino gaming platforms. Advanced technology rollout such as Things Of Internet (IoT) and Virtual Reality (VR) and blockchain technology combined with cryptocurrency use.
Cryptocurrency-based gambling, together with gaming platforms, is increasingly finding favor with many punters and players.
Case in point: CoinTelegraph reports that the U.S. based crypto gaming platform Bling saw a 50% increase in March, where it received 70,000 daily users and 400,000 + active monthly users.
There are plenty of reasons why crypto gaming popularity has risen; one such reason is blockchain tech’s ability to provide secure and transparent transactions. The platform also accords gamers with better house odds and provably fair results that are posted in real-time and can’t be altered.
A lot of gamblers also prefer transacting using digital currencies such as BTC (Bitcoin) due to security reasons. Cryptocurrency gambling lowers the risks of getting hacked and having identity stolen to almost zero.
The decentralized nature in which cryptocurrency operates provides punters with anonymity, thus allowing anyone from anywhere in the world to gamble anonymously.
Traditional gambling and gaming platforms always focus their energies on providing players with exceptional customer experiences. Moreover, the online gambling industry needs to meet customer expectations of speedy and safer transactions.
Gamers want to use gambling websites where they can make fast deposits and withdrawals. However, at times, this proves to be challenging for many crypto payment gateways since multiple confirmations need doing before transactions get processed.
Such processes take anywhere between ten minutes to several hours, something that compromises customer experience heavily.