The year 2020 is almost at an end, and it has definitely been one of the most fraught and difficult ones in recent memory. The various issues caused by the pandemic are not going away anytime soon, and neither is the pandemic itself, at least until a vaccine is administered across the globe. Nevertheless, it was not all bad, and people showed their capacity for resilience and tenacity this year. It was not all bad news for businesses and companies either, as many of them adapted quickly to the new reality and were able to thrive as a result. The online casino sector is one of those, which was able to change its product offering as a result of the pandemic, and therefore saw a lot of growth this year. Of course, it was also helped by external factors, with lockdowns almost all over the globe helping to boost its popularity, as many people looked for entertainment options while being stuck indoors. Thus, we look at some of the reasons for this year being such an encouraging one for online gambling.
2020 was all about online and digital working. People had to work from home like never before, and this is summed up by the almost overnight success of Zoom as a video-calling option. This year has shown that such a model is not unsustainable, and can be continued even when the world returns to some form of normalcy. At the same time, the online casino sector has been one of the biggest beneficiaries of this move to digital solutions, since many millions of people have turned to online casinos this year. This has been driven both by the fact that physical casinos had to close, as well as people’s search for entertainment when having to stay at home. The benefits of online gambling, including high-speed payouts, a huge variety of games, and great experiences, mean that this could be the future of gambling as well.
Cryptocurrencies have been one of the most-talked-about subjects this year, as they begin to firmly become a part of mainstream finance and investing. Bitcoin is set to end the year around the $20,000 mark, having started it at around $7,000, which shows just how great the rise has been this year. This has also fed into the online gambling space, where there are more and more cryptocurrency casinos being created to capitalize on this attraction towards digital currencies. Once again, the advantages of crypto, which include rapid transactions, convenience, safety and privacy mean that it is entirely possible that this is the first in the new wave of innovation that is yet to come.
The 2020 US Election
This year’s presidential election in the United States was perhaps the most-watched event in years, all over the world. Joe Biden’s victory over Donald Trump brought a huge sigh of relief to many millions, both in the USA and elsewhere, but the casino sector is also set to benefit. Biden is supposed to be more open towards gambling than Trump, and the recent Supreme Court verdict that legalized sports betting has seen a number of states follow suit as well. 2021 could well be the year where sports betting finally goes national in the USA and we see a huge explosion in numbers and revenue as a result.
The pandemic helps online casinos
As stated earlier, the unique circumstances surrounding this year have meant that online businesses have actually done quite well, and online gambling is no different. This also shows that gambling remains a popular activity and that people will continue to wager their money as long as a convenient option is available to them, which bodes well for the industry going forwards.