Many things have happened in the last few decades and one of them is the growth of the virtual world. It has seized many spheres of our lives, including the casino industry. The online casino has been growing rapidly in the last decade and the last year was no exception. We saw further development of the market (such as Fox bonus India & Mycasino India), which is bigger than ever. Of course, we also saw new technologies, new practices and new trends in the industry, along with big novelties in the field of online casino legislation.
The changes were numerous and pretty comprehensive, and we can elaborate on them for hours. Fortunately, we prepared only a brief review of the most interesting things that happened in the online casino industry during the last year.
The Market is Getting Bigger
Of course, the first and the most obvious thing that comes to mind is the fact that the market is getting bigger than ever. Logically, its share in the gaming industry is bigger than ever. It was around 14% in 2021 and it’s now 2022 even bigger. While we don’t have the exact percentage, we have some estimations that suggest that the whole online casino industry is now worth around $60 Billion.
It’s not hard to make a conclusion that things will only get bigger in the future. We have no doubt that the market will continue to grow at a rapid speed, so it’s no wonder that some estimations suggest that the whole market will be worth around $93 Billion by the end of 2023.
Legalization and Legislation
Not so long ago, online gambling was in a grey zone in most countries in the world. Players were forced to play at off-shore casinos and while that hasn’t been an issue so far, the fact is that all these countries were losing huge amounts of money, as they were missing to collect taxes.
It looks like governments around the world have finally realized the potential of the online casino market. Many of them have already legalized this form of gambling and started the legislation process. Most of them are in Europe, but there are many countries in other parts of the world where online gambling has or will become legal in the near future.
As we’ve just mentioned, many countries of the world have started the legislation process. Most of them have decided to stick with proven methods and most of them will adopt best practices from countries like the UK, Malta etc. These countries have been issuing licenses for a very long time and have such good legislation that covers a whole spectrum of different aspects of online gambling.
This particularly refers to EU countries, which will also use the licensing method. Many of EU members have legalized online gambling and brought new acts during the last year. This refers to countries like Germany, the Netherlands etc. On the other hand, some countries are still resisting, while others have a pretty specific look at a different form of online gaming. The latter particularly refers to countries like France, which still forbids slot games but considers online poker games legal.
Canada is another country that has started the legislation process. What’s specific about this country is that it has passed the authority to provinces, which will regulate the field on their own. Moreover, each province will have the authority to decide if online gaming is legal or not.
Mobile Gaming, Casino Apps
Of course, one of the obvious trends we’ve witnessed in the last year is the rise in the popularity of smartphones. More and more players are turning to smartphones and mobile gaming in general, which makes perfect sense, considering all the convenience that comes with it. It all started with global pandemics in 2020, but it looks like this trend will continue after the pandemics as well.
According to some sources, mobile gaming had a 40% share of the gaming industry in the last year. So, it’s no wonder that developers put focus on mobile platforms. Today it’s hard to imagine an operator that doesn’t offer an app version of its online casino. Moreover, game developers are coming up with products that are specially designed for certain smartphone platforms.
However, it’s worth mentioning that most players still rather use mobile browsers than apps.
What to Expect in 2022?
This year shouldn’t be any different. We expect that the development of the industry will remain on the same course – the market will continue to grow, more countries will regulate online gaming, technologies will continue to advance, and more and more players will prefer mobile gaming over other forms. Also, we wouldn’t be surprised if we see some big breakthroughs regarding VR technology.
>>> Visit Gurugamer.com for more updates and gaming reviews!
Comments