Will iGaming lose popularity post-pandemic?
2020 has definitely shown all industries what a real challenge is. Many businesses all over the globe were struggling to make it through as the COVID-19 virus spread like wildfire across all continents. Of course, many sectors were also able to benefit from the pandemic as everyone was stuck at home for the most part and having to rely on the internet for even the most basic of things.
Obviously, it comes as no surprise that communication apps such as Zoom and Skype saw a surge in their popularity as more and more people relied on them for work and school like we have never seen before. Another industry which really benefited from the pandemic is iGaming. Naturally, almost all land-based casinos and betting shops have been either fully closed or restricted for over a year, which led to gamblers turning to online gaming and online sports betting. And since sports events were also being cancelled and postponed, bettors also started turning to online casinos to give them a try.
It comes as no surprise that people found a cure to their boredom through iGaming, especially considering the fact that the appeal of winning actual money is quite impressive. But as vaccine rollout progresses in most of the first world, with more than three-quarters of the populations to be vaccinated by the end of the year and life slowly going back to normal, we all wonder: Will the iGaming market be faced with a crash?
In order to understand that concept and find an answer, it is important to look at what the market was like before 2020. Clearly, back in the pre-pandemic days, face masks and lockdowns weren’t really anything most of us were familiar with. We could go out freely and not worry about a deadly virus. However, even then, the iGaming scene was still growing quite rapidly in popularity and even affecting the land-based sector.
It’s actually quite similar to what happened with retail shopping when online shopping became so widespread and easy to access. The retail scene is still suffering until this day as eCommerce grows stronger and stronger. And this was before we had a pandemic. Just like that, iGaming will also most likely not be too affected by the resuming of our normal lives. It will continue to thrive due to a number of factors that distinguish the sector from its land-based counterpart.
It is no secret that online casinos are so successful due to the innovative technology behind them. This technology is much broader than simply rendering these casinos accessible to mobile and desktop players, it’s also about providing an immersive experience that they will never forget. As an example, live casino is one of the most creative aspects of online gambling. Sure, it is much easier to just use some sort of software and have it deal the cards itself, but by incorporating a real dealer which the player is able to interact with instantaneously simply provides a much richer experience. It’s something that will draw the player in and make them want to come back.
We have all seen crypto being on the news at some point. Whether it was the Bitcoin boom of 2017 or the recent rise of Dogecoin and Ethereum, it’s safe to say there’s a pretty good reputation surrounding crypto. That’s all down to the fact that it is built on a blockchain technology, which is possibly the safest you will ever come across. Crypto is now being used to make payments on online casinos, and we have also seen many new crypto casinos launching which are entirely based on crypto and blockchain, providing secure and fair gaming to all players. Crypto wallets are probably the hardest to hack, so security breaches are a thing of the past when dealing with cryptocurrencies.
iGaming isn’t going anywhere but up
Sure, the pandemic heavily impacted the iGaming world and brought in a lot more revenue that it used to. But this also does not signify that iGaming will die out anytime soon.
The industry is growing rapidly as it begins to incorporate improved solutions and the most cutting-edge tech available out there. It is consistently growing and developing, with no evidence that it will slow down. If anything, the industry has proven that it can mold into whatever the market needs it to be as it grows and changes.