Casino Updates: Predictions for the Online Casino Industry in 2022

In 2021, the market for internet gaming as a whole was worth $72.3 billion. The publication projects that the market will grow at a CAGR of 9.96% from 2022 to 2027, bringing the total value to US$ 131.4 billion.
We are regularly tracking and assessing the direct as well as the indirect impact of the pandemic while keeping in mind the COVID-19 uncertainties. These observations are cited in the study as a significant market contributor.

Online gambling, sometimes known as virtual gambling, is placing bets on casino or sports-related events via the internet. Online gambling differs from traditional gambling in that there is no player-to-player contact and computer programs control every session.

Virtual players can participate in a variety of games, including slot machines, blackjack, poker, and sports betting. They have the option of playing online or by downloading gambling software to their personal computers. Online gambling has many advantages, including cashless transactions, device accessibility, budget flexibility, and a real-time gambling experience for the gamers.

What’s the most popular online casino game?
Slots are by far the most played game in online casinos. Given that progressive jackpot slots frequently produce the largest online gambling wins, this is not surprising. For instance, the biggest slot win in 2021 was a staggering EUR 19,430,723, which was made on the Absolutely Mad Mega Moolah machine.

The most played games online, after slots, are table games like poker and blackjack. As more online sportsbooks have opened in recent years, sports betting is also growing in popularity.

The year when everything changed
None of us were ready for the year 2020. By the middle of March, the COVID-19 epidemic had the entire planet under lockdown, with land-based casinos closed and sporting events postponed. Operators prepared for a challenging time, but many were able to recover potential losses.

The eSports industry began to enter the mainstream in this year. Sports bettors had few options, thus eSports betting gained popularity. The industry experienced exponential growth, and its popularity held steady as the international economy opened up.

Additionally, we observed more operators incorporating blockchain gaming and cryptocurrency payments via integrated or standalone systems. Despite a modest hiccup in the first and second quarters, overall gambling income grew throughout the year. In general, it was a year marked by numerous paradigm shifts. Unexpectedly quickly, gambling increased in popularity, diversity, and technological sophistication.

Year 2021
• To expand the Group’s Safer Gambling service, LeoVegas Group introduced a new layer of AI-powered messaging in September 2021. Customers in the UK will be the first to receive personalized onsite messages that enlighten and provide information on safer gaming and are tailored to their activity and risk profile.
• FanDuel Group, a division of Flutter Entertainment PLC, will introduce its FanDuel Casino services in New Jersey and Michigan in July 2021. Customers may now play live dealer blackjack, roulette, and baccarat at FanDuel Casino.
• The market-leading sports betting and gaming platform was named the preferred sports betting partner of Audacy across its best-in-class sports broadcast stations, the Audacy and Bet QL apps and digital platforms, and the “BetQL Audio Network” in March 2021 as part of an agreement between Entain PLC’s BetMGM brand and Audacy, formerly Entercom Communications Corp.

The year ahead
The year 2022 is anticipated to be even better for the online gaming industry. The “Gambling: Global Market Opportunities & Strategies through 2022” research makes stunning predictions that by year’s end, internet and offline gambling would have exceeded $565 billion. This represents an annual growth rate of almost 6%.

The situation is considerably better when we focus solely on internet gaming. According to data from Juniper Research, there may be $1 trillion worth of online wagers overall. The numbers differ depending on where you look, but they all demonstrate general increase with a CAGR of above 10%. By 2025, we may anticipate that the market for online gaming would have surpassed $112 billion based on a CAGR of 12%.

When it comes to growth drivers, there are a number of different things to keep an eye out for.

Wearables technology
Wearable devices like smartwatches and similar devices are used or have been used by the majority of us. Many of us also use home assistants on our phones and computers or have them in our homes. We anticipate that interest in betting via these gadgets will increase. They don’t provide many visuals, but they do provide convenience.

Using voice recognition technology and AI is certain to be a popular way to gamble, especially in sports betting, fantasy sports, and even eSports. We view it as an emerging market worth investigating even though it might not be a significant driver of growth in the upcoming year.

Payment Methods
More customers are comfortable making financial transactions online. So, there are now more payment gateways available. Casinos like the online casino Malaysia accept cryptocurrencies in addition to the traditional banking payment mechanism.

E-wallets are growing in acceptance and becoming a more comprehensive payment option. Due to their high volatility, previous cryptocurrencies were not accepted by casinos. Due to gambling limitations imposed by numerous governments, this tendency is being reversed.

Cryptocurrencies are available everywhere and are simple to exchange for fiat money. More payment forms and techniques are being developed as alternatives to the established banking system.

Mobile Experience
It shouldn’t come as a surprise that several of the top online sportsbooks now provide mobile betting apps and websites for mobile platforms like iOS and Android because mobile betting is more popular than ever. You should have a seamless experience using the mobile app, and you should have access to the same selection of betting markets as you would on a desktop computer.

The live casino
For many players during the pandemic, live dealer games have kept the casino floor experience alive, while for others it has just been a more engaging way to play traditional casino table games. Live casino games connect players via a real-time video link to a studio that has been decorated to resemble an actual casino.

Although the reach of this format is still somewhat constrained, it does allow players to participate in games from virtually anywhere and on any device of their choice. Additionally, there is a chat feature that enables participants to communicate with the in-studio dealer as well as one another.

Live dealer games have a promising future, and there will undoubtedly be more advancements in this field before 2022. While it has been prophesied that VR (Virtual Reality) and AR (Augmented Reality) will finally “become mainstream” every year since at least 2012, 2022 may be the turning point. The gaming business has been at the forefront of VR/AR development outside of military applications, and by 2024, it is anticipated that the sector will be worth $12 billion.

The cost of this technology is one factor that has prevented its mainstream adoption. The market is currently changing as a result of advancements in headset internal hardware. In addition to standardizing the circuits in these devices, PCB design simulators are facilitating the industry’s ability to share and produce designs in big quantities, leading to better and more cheap products.

This could be the push the gaming industry needs to launch VR-ready virtual casino spaces where people can play games like blackjack online while viewing the action from a 360-degree angle, picking up their cards, and using chips while interacting with the dealer and other players. The adoption of VR/AR technology will undoubtedly boost the already-growing popularity of online poker tournaments.

Promising future
Many governments in Latin America legalized internet gambling last year, but Asia and Europe looked more promising. Numerous service providers choose to use other countries and credentials when Malta was greylisted by FETA in 2021.

By year’s end, it is predicted that the combined value of the land-based and online gambling industries would reach $565 billion, with a 6% annual growth rate.

The growth rate of online casinos in Malaysia is more promising; it is projected that by the end of 2022, this industry would have generated $1 trillion in revenue. A CAGR of 10-12% is anticipated for Y2022. The factors driving this rise vary.

E-Sports Betting
In 2022, e-Sports is preparing to be a very competitive industry. On these betting platforms, expect to see more microbets placed than just wagers on the results of actual games or matches, too. For instance, in addition to wagering on the overall score of a basketball game, gamblers can also wager on smaller payouts such as which player will win the opening tip or who will make the first basket. Although these types of wagers are already being placed on a significant scale, expect to see them incorporated more effortlessly onto different betting platforms around the world.

Security and Licensing
Our top objectives when looking for the best online sportsbooks are security and privacy. You probably won’t be thinking about which sport to bet on if you don’t feel secure or have difficulties accessing the money in your account. Every sportsbook we investigated implemented encryption and identity verification for player accounts to protect players.

Final Thought
There is so much potential for growth in this industry despite the numerous advancements that it has already made. The year 2022 appears to be a significant one for the online gambling industry, and several major businesses are hoping to profit.

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