Casino Market
We have seen numerous gambling enthusiasts transforming from custom casino tables to their online correspondents in the past few years. As per the data brought up by a recent case study, we are yet to witness a new look in the 2021 online gambling industry.
An all-inclusive analysis by the Market Research Future (MRFR) indicates that the global casino market could surge up to USD 480 million. The MRFR reckons on the market scope to reach a Compound Annual Growth Rate (CAGR) of 7% as of 2026 with an extension to 2027.
Casino Industry Market Drivers
The MRFR reveals that there is a diverse number of trending indicators transforming the global casino market. Like the previous year, 2021 is anticipated to be a game-changer for the online casino market to accumulate more revenues.
More gaming competitors are setting foot into these new online casino opportunities in the global’s major gaming markets like North America, Europe, and Asian Pacific Cloud Gaming Markets (APAC). This marks a tremendous casino market boom for competitors like MGM Resorts International, Caesars Entertainment, Wynn Resorts, Bragg Gaming Group, and Flutter Entertainment not only in 2021 but in forthcoming years too.
Here are some of the trending indicators that are driving the global casino market industry to a lifetime thrill of evolution gaming:
- There is an implementation of cryptocurrency for instant anonymity of users transactions to protect your online identity.
- There is an increase in the use of mobile casinos. You can access your favorite online casino game market applications using your Android and iOS devices on the go without hassle.
- Adoption of virtual reality (VR) games. For instance, Net Entertainment manifests virtual reality versions of Beanstalk and Jack slot machine games.
- There is the implementation of interactive gaming systems to meet various guests’ social gaming expectations.
- The new iGaming experience of using wearable smartwatches delivers a lifetime experience to the guests.
- Online casinos have introduced engaging dealers that exhibit charm and wit, bringing one’s time to live casino experience in gamers’ homes.
Impact of Covid-19 on the Global Casino Market
The outbreak of the Covid-19 pandemic in late 2019 and early 2020 brought all physical casino operations to a halt. Frequent tests were carried out at entry points to ensure customers’ safety and control the spread of the virus. Covid-19 also brought the current casino development projects and programs at the time to a standstill.
However, it led to a productive impact on the public interest shifting to online gambling by at least 50 percent. As a result, people had much more free time in the wake of lockdowns and had much interest in exploiting online casino gaming opportunities.
The World Health Organisation (WHO) later reopened the casinos after emphasizing on wearing masks, using sanitizers, and social distance directives. However, the online path had already peaked as gamers could access all game slots stored in a cloud. Gamers could experience the gaming thrill of a real-life counterpart in the comfort of their homes.
Global Casino Market Segmentation
The MRFR scrutinized the online casino gambling segmentation in terms of game type, type of device, and end-users. The game type constitutes the Casino, Esports, Bingo, Lottery, Keno, and Poker. The type of device is either a desktop or mobile (Android and iOS). Lastly, the end-user is sectioned into gaming enthusiasts, casual gamers, or social buoyant.
Europe dominates the world’s online casino gambling market. There are many online casino gaming service providers in Europe, including Bet365, Kindred Group PLC, and 888 Holdings.
North America comes in at the second position as a result of regulatory reforms in the United States. Currently, there is a rise in a number of both gamblers and online casino gaming platforms.
Online casino gaming platforms are majorly emerging in countries like China and India in the Asia Pacific Region. The region is expected to have the most globally profitable online gambling market in 2021 and years to come.
Global Casino Competitive Analysis
The global online casino gambling market anticipates witnessing notable project & product launches. Competitors in these gaming industries have taken the strategic implementations to invest and foster their development plans.
As of Jan 29th, 2021, Pokerstars, FOX Bet, Golden Nugget Online Gaming (GNOG), and Stars Casino have launched their sports gambling services and products following major approvals in their respective states for additional significant investment opportunities.
