With changing legislation, the casino industry keeps expanding to include more players and partners. Game providers have continued to widen their market scope to win over more players and raise profit margins.
Even more importantly, trends that have redefined the iGaming industry in the wake of the 5G internet have made headlines around the world. For a gambler, the launching of new games is a vital emphasis. This post explores the biggest online casino news in 2020, including what to expect in the future.
But first, note that staying updated with casino news would be incomplete without a review of online gambling in 2020. For a gambler, everything boils down to finding a gaming platform that will meet your expectations.
For example, a good casino website should not only load faster but also feature immersive graphics and the best games. While some experts may argue that the advent of the 5G internet is the biggest news yet, projections for the future are mind-boggling. European Gaming estimates that by 2027, the online casino industry will be worth $647.7 billion. How that would be possible is easily attributed to a sector that continues to thrive in the wake of the ravaging COVID-19 pandemic.
Biggest Casino News That Have Made Headlines in 2020
With more people developing an appetite for doing business online, the future of online casinos is vibrant. More gaming platforms emerge in cyberspace in the next decade. But when it comes to reviewing the biggest casino news in 2020 makes, here is everything you should know.
Online Casinos: Biggest Beneficiaries of Digital Migration in 2020
While digital migration has always been a hot topic, it has become a trend lately. The iGaming industry is the biggest beneficiary among internet-dependent businesses in 2020. Stats shared by the U.K gambling commission show that millions of gamblers are registering with online casinos.
The question is, will internet casinos take over the gambling enterprise? Well, it depends on whether more people will start working from home. Demand for high-speed gaming, quick payouts, and immersive experiences that are only possible in online casinos will further fuel the takeover.
The Popularity of Cryptocurrency Casinos Has Soared in 2020
The advent of cryptocurrency created euphoria among internet entrepreneurs. While Bitcoin remained shaky at the start of the year, its soaring value towards the end signals good tidings for casinos that accept crypto payments.
The exchange value of Bitcoin, which ranged between $7,000 and $10,000 at the start of the year, has nearly doubled in December 2020 to about $20,000. For gamblers, it appears, transacting deposits and withdrawals in Bitcoin is not only rewarding but also secure. In a nutshell, if BTC is not the future of digital storage of value, especially among punters, it will disrupt the banking landscape in online casinos.
iGaming Industry Wins Big After 2020 U.S Polls
Poker black Friday that triggered the collapse of the biggest poker sites in the U.S.A is still fresh in many minds. However, the U.S Supreme Court ruling that legalized gambling a few years ago opens up the enterprise.
The enterprise has improved since the November 2020 polls in which President Trump lost to Joe Biden. The latest reports indicate that three more states, namely Virginia, Colorado, and Nebraska, have approved online casino games and enforced higher wagering limits. The American Gambling Association hailed the move. Most importantly, recent developments are good news to punters in a country where retraction of gambling laws has been the norm.
Online Casinos Rake in Huge Profits during the Pandemic
Coronavirus may have put most economic activities on hold, but online casinos thrive. Notably, casino gaming sites have ensured the gambling industry moves forward. Therefore, the impact of COVID-19 on the iGaming industry is surprisingly positive.
Recreational punters and professional gamblers have continued to place bets on their favorite games online. As a result, casino websites have earned millions in revenue. A report by Pennsylvania Gaming Control Board indicated that online casino revenues rose by 0.5% during the July lockdown in the U.S. The report further indicated that table games, slots, and poker generated $54.5 million in revenue in July 2020.
Cyber Security Is a Major Threat to Online Casinos in 2020
With more gamblers joining online casinos, a threat to data security has shifted to gaming sites. Reports that the iGaming industry will register massive growth more than any other sector by the end of the year compound an existential hacking threat.
SQL injection, account breaches, scraping, DDoS attacks, and expediting are the most prevalent forms of cyber attacks that target internet casinos in 2020. It explains why gaming sites are now embracing blockchain alongside cryptocurrency payments to secure user privacy and the personal data of customers.
Lookdowns attributed to the coronavirus outbreak grounded the global economy for many months. However, many things, such as technology, gambling, and the space race, have continued to dominate headlines. Most importantly, the boom in online casino enterprise signals a future of massive digital migration. It is the best way to thrive amid uncertainties. Also, find out why Spain may ban alcohol to curb the spread of COVID-19, just like South Africa.