2021 recorded one of the busiest years in the online casino industry. It was the year when the biggest number of young gamblers registered on various platforms. There was an increase in technologies favoring online gambling and physical casinos received fewer visitors. Some of the 2021 trends are expected to spill over into 2022 but stakeholders cannot rule out new trends for the new year.
Competition will increase
A lot of investors have seen the vast opportunities in this industry and are willing to tap into it. Consequently, gamblers will benefit from more new online casinos in the market. The already established online casinos must set a pace to help them overcome competition and remain in business. They will do so by improving customer experience and attracting new users into the industry.
Gambling on mobile phones could double
2021 recorded the highest increase of gamblers using their mobile phones. The main reason was that it is easier to bet from any place and at any time. Those who don’t want to be seen in brick-and-mortar casinos feel it is safer to gamble on mobile phones because of their privacy.
The trend is not likely to ease off but there could be bigger numbers of online gamblers registering on their mobile phones throughout 2022. The work-from-home trends favor this move more as users seek every available opportunity to make money.
Cryptocurrencies will dominate the market
The last four years have recorded fast growth in the cryptocurrency market. Those investing in cryptos are not showing any signs of despair or letting go but they are investing more daily. As a result, many businesses have started to adopt cryptocurrencies payments as an acceptable method of payment.
The online casino industry is one of the industries that have invested the most in cryptocurrency payments to provide diverse methods for their clients. This is not destined to change, and cryptocurrencies might dominate the industry as a major payment method.
Tighter regulations for online gambling
Experts predict the US economy in 2022 will grow by about 3.5 percent. Compared to 2021, there will be a jump in the economy that will benefit every business. As more people choose to gamble in online casinos, there will be a need to review the existing laws and guidelines for the industry.
The casino regulations for 2022 must include changes to tax reporting laws. However, the most anticipated rule is the anti-money laundering law to prevent terrorist financing. It will be covered by financial crimes and anti-fraud rules. The laws are tight, but they are being described as important for the good of the casino industry.
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