Since it began to become popular in the late 1990s, the online gambling market has been in a perpetual state of change. More than 200 internet casinos existed in 1997. Online gambling generated $997 million in income worldwide in the same year, or $1 billion.
In contrast, a Statista analysis estimates that the worldwide online gaming market will be worth USD$66.7 billion (€59.3 billion) in 2020. It is anticipated to reach USD$92.9 billion (€82.6 billion) by the following year (2023). An iGaming sector is a money-making machine, and keeping up with the most recent technology advances is what drives its appeal.
Several trends have been projected for 2022. Online casinos must keep up with these advancements if they wish to stay competitive. These trends include, among others:
The rise of the blockchain is one of the fascinating trends in online gaming. In case you didn’t know, Bitcoin transactions are carried out on a blockchain, and because of the nature of the blockchain, a completely new unrealized potential is now possible.
You can use the blockchain to store more than simple transactions, including other data types like contracts and agreements. Players are drawn to the privacy aspect of cryptocurrency and blockchain transactions because they offer more anonymity than transactions involving conventional money. Additionally, you can use it to confirm that the games adhere to online gaming norms and are fair.
These benefits have attracted players to online casinos that allow players to transact using Cryptocurrencies. As a result, top Australia online casino sites accept players to transact with cryptos. Some of the popular cryptos on online casinos are Bitcoin, Litecoin and Ethereum.
People use blockchain technology and cryptocurrencies in the gaming industry. For instance, Sandbox games produce their currency, which is traded daily on cryptocurrency platforms. The blockchain made its debut in online casino games in 2022. Given the rate of evolution, its initial iteration will be unrecognizable after 12 months. Blockchains for various cryptocurrencies are being developed to process transactions as quickly as Visa, the current network used for fiat currency transactions.
With its XRP coin, Ripple can match Visa’s transaction speed. We might see benefits from combining online gaming and the crypto business when it adopts cryptocurrency.
Sports Betting and Games with a Sports Theme Are on the Rise
There is no denying the rapid rise in popularity of sports-themed games and sports betting. Sports celebrities are signing contracts to have their images used on video slots with a sports theme. Now that it is possible to play online casino games and place sports bets on the same website, sports betting is becoming incredibly popular.
While playing poker, you can place a wager on your preferred NBA team, soccer club, or both. You can take part in the action between hands in the progress of the game.
While this is happening, sports-themed video slots become more prevalent with each significant matchup. And the World Cup in Qatar is this year. We are all aware of what is to come.
The Increase in First-Person Games
If you enjoy playing video games, you’ve probably tried your hand at some first-person shooters. Here, you see the outside world through your eyes. In an online casino, you view the games via your eyes rather than chasing people around with a submachine gun.
This innovative gaming method is designed to support virtual reality (VR) headsets, a gaming segment that is becoming increasingly popular. Like most modern technology, it is advancing quickly, so as online casino play has done for many years, you can anticipate seeing more graphically realistic first-person and VR offers in the future.