UNITED STATES—The pandemic has disturbed businesses all across the globe. Some industries have suffered significant financial losses, which led to a massive decrease in the job market — companies have run out of business, and millions of people worldwide have lost their jobs.
On the other hand, certain enterprises that have switched to e-commerce have endured and come up with ways to minimize the losses. With the entire world on lockdown, we find ourselves working remotely and being inside the house for hours on end. This situation prompted people to discover new pastimes.
That explains the sudden surge of online gambling global stats. Some people have turned to online casinos and sportsbooks as a primary entertainment source, while others saw this industry as an excellent opportunity to earn real money online. Why deposit wild and extortionate amounts of cash, when you can play at a low deposit casino?
Below, we will discuss why online gambling attracted many people, and see whether this surge is sustainable.
Extensive Range of Online Gambling Opportunities
Thanks to various technological innovations, online casinos are more advanced than brick-and-mortar venues, especially now that every game can be played remotely. Given that many businesses depend on the internet, people need to have at least the basic internet skills to work successfully.
Online casinos have advanced and grown. All types of people feel comfortable in the iGaming environment, especially introverts who now don’t have to avoid crowds to enjoy a game. Moreover, newcomers won’t feel the pressure to beat other, more experienced players. In online casinos, people play against the platform and not other players (except live dealer games). This allows them to practice, acquire new skills, and gain more confidence when playing casino games.
Undoubtedly, online casinos are among the most heavily marketed businesses — you’ve probably seen billboards, TV ads, or even banners across all sites you visit. Apart from their convenience, online casinos are growing in popularity, thanks to the most exciting and attractive bonus offers and promotions.
Furthermore, due to the competitive market, online gambling platforms provide an ample range of games that suit all player preferences. Also, if you’re looking for someone to play a poker game or blackjack with, you can always find partners in the casino’s live dealer section. Finally, online casinos stand out thanks to their availability — you can play games at any time, 24/7.
Increased Security and Privacy
While online casinos attract more people every day, players still have concerns regarding their privacy and safety. Online casinos require players to make deposits and withdrawals and leave personal information when creating an account. That’s all understandable, but the main question is — how do they protect this information from potential threats and cyberattacks?
Over time, casino platforms have introduced various technologies to ensure the players’ data was safe. The first thing to look for when choosing an online casino is a lock next to the address bar. This shows that the platform employs top-notch security measures, such as SSL encryption. This technology encrypts all data exchanged between a player and an online casino, making it impossible for anyone else to access it.
However, bear in mind that online gambling isn’t legal everywhere. Therefore, if you want to play in an online casino or bet on sports, you need to check whether your country supports this form of entertainment. Furthermore, to be sure you’ll be safe, you should always play in licensed and reliable casinos.
To see whether the platform holds a valid license, scroll down to the bottom of their official website, and look for licensing information. Here are the names of respected regulatory bodies that oversee and license trustworthy casinos — the UKGC, MGA, Gibraltar, Curacao, and similar. This will allow you to minimize the risk of your information being exploited or misused.
Will the Current Surge Last?
The coronavirus outbreak had a favorable impact on this industry. According to global statistics, the online gambling industry is expected to grow from $58.9 billion in 2019 to $66.7 billion in 2020. The growth rate should be 13.2%. Experts attribute this exceptional progress to COVID-19. The lockdown forced people to look for new recreation and hobbies in the online environment.
However, the pandemic isn’t the only reason we’ve witnessed such a rise in online gambling. General statistics show that the online gambling industry has grown by an astounding 70% in the last two years. Therefore, we believe the entire online gambling market will continue to thrive even after the pandemic.
Technological innovations are a vital contributor to this growth, mainly because players can access online gambling platforms on their mobile devices and play games wherever they are. Moreover, players can make fast and secure money transactions via a broad range of payment solutions. With these advancements, the online gambling market can continue to grow and surprise its users with new and exciting features.