The online betting industry is expected to be worth USD 127.3 billion by 2027. The increasing popularity of betting worldwide, as well as the freemium models in online betting, are two possible trends that will likely emerge in the next few years.
This change is fueled by technology, and the blockchain is playing a pivotal role in the industry’s transformation. It enables decentralized betting, fairness, anonymity, and a slew of other gambling benefits. But of course, we don’t have to wait until 2027 to experience them as some of these trends are already starting to reshape the gambling space this year.
Here are the top trends that currently amass gambling patrons in 2021.
Esports betting Is Getting Bigger
Esports betting entails betting on professional online gaming contests such as DOTA2, Mobile Legends, Counter-Strike: Global Offensive, Fortnite, League of Legends, to name a few.
The popularity of esports has skyrocketed in recent years. This is mostly due to the fact that more players realize that this underserved betting sector has immense potential and offers excellent returns (if done correctly).
Millions of players aspire to be professional gamers or at the very least make money from their gaming skills. Even while not every gamer will become a professional player (because it takes years of training and devotion), esports betting markets, which are widely available at most reputable online gambling singapore bookies, are expected to see a surge in demand.
We’ve been swept up in the cryptocurrency fever. The gaming sector has followed suit, with more operators accepting cryptocurrency payments this year. While traditional banking methods are still available, many gamers have stated that they prefer crypto like Bitcoin and Ethereum since it gives an added layer of security, which is critical for gambling.
Analysts predict that in a few years, cryptocurrency will be the leading payment solution used by gamblers.
Virtual Reality (VR) is a cutting-edge technology that attempts to provide customers with a completely immersive gambling experience. Even though VR headsets were mostly utilized by techies and early adopters a few years ago, the industry has progressed significantly since then.
These high-tech gadgets are now more inexpensive than ever before. Several online betting companies have already committed millions of dollars to the development of virtual reality casinos.
It will only be a matter of time before every gambler can enjoy a virtual reality gambling experience from the comfort of their own home. Virtual reality versions of some of the most popular games are currently under development. By the end of the year, more VR spots will be available.
New Live Casino Games
If you’ve ever played table games with live dealers in the online gambling singapore space, you already know that they’re the most entertaining casino games accessible. Because human involvement makes online gambling more appealing, we tend to play for longer periods of time when the dealer is actively involved in the game.
Operators are devoting additional effort to finding the most charming and chatty people. If the upward trend continues (which is quite likely), live table games will become so similar to a land-based casino experience that they will be difficult to discern.
Value of Promotions Are Getting Higher
Every day, new online casinos open their doors, raising the stakes in the gambling sector.
For the players, this is great news. For the operators, so far, no. Player retention is a major issue for most online casinos nowadays. To encourage new customers, they propose offering larger benefits.
These promos can range from huge no deposit bonuses (which let you wager without depositing money) to low wagering welcome bonuses, which increase the chances of the player cashing out the bonus money.
It’s a good time for the online gambling sector, which is seeing revenues rise as more people turn to casino websites to spend their money. We should expect greater creativity and innovation in the future development of the sector as a result of this significant shift.