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The Online Casino Industry in 2022: What to Expect
Public Group active 2 years agoEach year the online casino industry changes as it adopts new trends and embraces new technologies. For 2022, it’s likely that the industry will see many of last year’s trends continue and evolve as these technologies improve and gain wider spread popularity.
Some of these technological improvements can already been seen at the most popular online casinos in the UK, the online gambling industry’s largest iGaming market. Most notably, these advancements include enhanced game quality (both audio and visual), games with new mechanics (more interactive and skill-based elements), faster payments (24-hour withdrawals), and improved mobile experience (seamless instant-play from web browsers and native apps).
Online Gambling Will Continue Its Steady Growth
Online gambling has become the fastest-growing sector in the global gambling industry and this growth is anticipated to reach new heights this year. In fact, the online gambling industry is projected to reach $565 billion value in 2022, and this multi-billion dollar industry is only likely to get bigger in the coming years.
In all honesty, as huge as this projected number is, it’s not all that surprising when you consider that more and more players are choosing to gamble online or via their mobile devices. Although the online casino and online betting trend received a huge push during 2020 in the wake of the COVID-19 pandemic, it was only a matter of time until online gaming eclipsed its land-based counterparts.
Wearables to Play a Bigger Role in Mobile Gambling
The wearable industry has never been more popular. A good chunk of its popularity can be credited to the Apple Watch, with the number of Apple Watch users surpassing the 100 million mark in 2020.
This year, smartwatches are predicted to reach $33 billion in market value and wearables will be more relevant than ever. This has several online casino software developers eager to jump on the wearable bandwagon. In addition to slots and casino games being developed for smaller screens and catering to wearable features, wearables are also likely to become popular in the online sports betting and eSports betting world, where voice recognition and AI could become the preferred way to bet.
Crypto Casinos to Increase
Cryptocurrency has been steadily growing in the online gambling world, especially in the online casino sector. Today, there are more crypto casinos than ever before and blockchain technology is gaining prominence in the industry, as both operators and players realize its benefits.
It’s a win-win situation for both sides. Near instant transactions, anonymity, security, and not having to deal with strict regulations, limitations and fees of traditional financial institutions, are among the top benefits of using crypto for making withdrawals and deposits. This year, there’s likely to be an increase in the number of traditional FIAT online casinos that accept cryptocurrency payments (e.g. Bitcoin, Ethereum, etc.), as well as in the number of crypto-only casinos.
More VR and AR Gambling
VR (virtual reality) and AR (augmented reality) are gradually gaining ground in iGaming. Though there are currently few operators who offer this experience, more brands will embrace this technology as it becomes more mainstream, and the devices players need to engage in this form of gaming become less expensive.
The reality is that, like blockchain technology, the Metaverse is likely to play an important role in the future of online gambling. VR and AR are important elements of the Metaverse, which focuses on delivering a truly immersive, real-to-life virtual experience.
Conclusion
Technology and trends like wearables, crypto, and interactive gaming experiences will continue to evolve in the online casino industry in 2022. There will be more improvements made that will lead to enhanced and customizable gaming experiences for players that they can enjoy with quick, convenient ease at any time and in any place.
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