The gambling industry: a review of 2020

The gambling industry underwent considerable changes in 2020 compared to previous years. With the outbreak of COVID-19, the industry had to adapt. With most land-based venues, including in Las Vegas, Macau, and Monaco closed, playing online became a new hit, providing entertainment for more people.

One of the tremendous changes of the year was the global switch to online. With COVID-19 lockdown measures, more people went from the office to working from home. Since all the conventional entertainment means, such as theatres, shops, cinemas, and other facilities, shut their doors, online entertainment became the most relevant attraction for millions. It was an excellent time for streaming services, online cinemas, and online casinos, in particular. Those who preferred gambling in land-based facilities and specialised venues had to switch to online sites.

When it comes to one of the most distinctive features of the gambling industry in 2020, fierce competition stands out. The crucial point is that dozens of holdings and casino groups started competing against each other to attract new audiences. While some groups and affiliate programs introduced generous promotions, others adding new games and titles.

Since the competition among gambling websites in 2020 was fiercer than ever, it is a must for regular gamblers to choose an appropriate platform. For that reason, you are advised to read reviews of the best payout online casinos to choose a decent and licensed gambling website. Please note that it’s now more difficult than ever to find an online casino with the best payout in just a few clicks. That’s why reading specialised reviews is necessary.

2020 was the time when people slowed down their usual routine. With thousands of employees switching to remote work, it was undoubtedly stressful to go through 2020 but one of the most significant changes that happened regarding the gambling industry was the increase in the popularity of mobile gaming. Since most online casino sites now deliver mobile-friendly sites, gambling online from mobile devices has never been easier.

In 2020, significant progress was made with transferring dozens of functionality features to mobile gambling sites, including demo versions of slot machines and table games. It is no surprise that with sporting events canceled, there was a rise in interest in eSports. Such disciplines as CS: GO, League of Legends, Overwatch, Dota 2, or Fortnite hosted plenty of tournaments and found new fans.

Independent analytics highlighted that more online casinos added sports betting options, combining gambling and betting audiences under the umbrella of a single platform.

Another noticeable 2020 trend was a renewed interest in cryptocurrencies and blockchain technologies. Since this year was full of negative implications for individuals worldwide, people became interested in cryptocurrencies more than before, and the gambling industry took notice, accepting cryptocurrencies as payment methods.

Even though it is universally agreed that cryptocurrencies are still too new to overthrow the conventional currencies and banking systems, it’s still an impressive technology. For most gamblers, having some BTC became a chance to top up their accounts in 2020 and start playing straight away.

Summary

Even though 2020 was undoubtedly a problematic year with dozens of socio-economic, health care, and social issues, the gambling industry seemed resilient. When it comes to the crucial trends that highlighted the industry’s progress in 2020, the aspects of fierce competition, mobile gaming, eSports, and cryptocurrencies stood out the most.

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