Human beings have always had a taste for risk. There’s something about gambling that captures this excitement perfectly. For many players, online gambling is a way to experience a little excitement from the comfort of their own homes.
So has the market changed recently? If so, what has brought about these changes? This post will use data outlined by Statista to explore where the world of online gambling might be heading.
Let’s first cast our minds back to 2019. The threat of COVID-19 was nowhere to be seen and physical casinos could keep their doors open for paying customers. A direct alternative to online gambling was readily available for many.
This doesn’t mean the world of online casinos was lacking. The global market for online gambling in 2019 was worth approximately $58.9 billion, representing a significant increase over the five years that came before. Since the UK Gambling Act came into effect in 2005, the path has been paved for aggressive growth in the online gambling sector. This progress is evident in the size of the market in 2019.
The most significant change for most people’s lives this year has been the impact of the global COVID-19 pandemic. Government lockdowns and social-distancing measures have accelerated a trend towards digital living. This shift is particularly evident in the world of online gambling. 2020 saw a global market size for online gambling of $66.7 billion, a huge leap from 2020. An increasing number of people have been turning to online casinos to get their kicks.
What’s worth mentioning about this increase, is that a significant proportion of these new players are likely to be brand new to gambling. This means that, moving forward into a lockdown-free world, these consumers are likely to continue using online gambling services over traditional casino locations.
How 2020 Has Transformed Online Gambling
The leap in market size for online gambling between 2019 and 2020 is undeniably huge. Unsurprisingly, this change was caused largely by lockdowns forcing traditional casinos to close. However, it would be unwise to assume that the online pie will shrink in 2021.
More People Are Willing to Stay Digital
2020 has introduced a paradigm shift in what consumers expect and how they’re willing to access the goods and services they love. This shift in attitudes is unlikely to go away overnight. The convenience and speed of online services, like casinos, means that many players will continue using them even once traditional casinos open their doors again.
Hygiene Measures Won’t Disappear Immediately
Even with newly approved vaccines, social distancing and cleaning measures are likely to persist well into 2021. These restrictions are likely to put a strain on physical locations that online casinos don’t have to deal with.
The steady growth that online gambling has seen saw a significant spike in 2020. While the speed may reduce a little, this trajectory is unlikely to go away. Check out the rest of my blog for more tips and tricks that will make you a better gambler.