Why Have Online Casinos Become So Popular in 2020?

Ever since its start more than 20 years ago, online gambling has seen exponential growth. From a market valued at USD 58.9 billion in 2019, it is expected to grow to a whopping USD 66.7 billion in 2020. That is a massive increase of 13.7% year on year.

Many are terming this as the online casino boom of 2020. Of course, as one can guess, the global Covid-19 pandemic has had a key role in that.

Chapter 1

Why Have Online Casinos Become So Popular in 2020?

by: angela29

Ever since its start more than 20 years ago, online gambling has seen exponential growth. From a market valued at USD 58.9 billion in 2019, it is expected to grow to a whopping USD 66.7 billion in 2020. That is a massive increase of 13.7% year on year.

Many are terming this as the online casino boom of 2020. Of course, as one can guess, the global Covid-19 pandemic has had a key role in that.


However, the growth also has a lot to do with the easy accessibility, improved online security, and renewed user confidence on betting sites thanks to casino comparison sites. For example, the reviews at Casino.Guide help players to find trustworthy sites and the best offers.


Key Factors Behind the 2020 Casino Boom


A closer look at different reasons behind this increased traction can reveal whether this boom will continue or is destined to bust.


Casino Closures


One obvious reason behind the 2020 spike in online gambling is the temporary closure of physical casinos.

In this situation, online betting provides an easy alternative for regular and avid players.


However, once physical casinos are back to business, their charm and hustle and bustle are bound to recapture many of their long-time admirers. Thus, it won’t be surprising if there is a drop in online numbers. Nonetheless, the convenience of online gambling would still retain a big percentage of its new users.


People Have More Time for Alternative Activities


The global pandemic has given people time and opportunity to try new things. Therefore, the influx of new online gambling users can be attributed to the free time available to the masses. Many other leisure activities and establishments are unavailable so people have had more time in 2020 to learn games like Blackjack, Roulette and Poker.


This is further helped by the availability of free-to-play games on many gambling sites. In the past, people who wanted to learn traditional casino games were put off either by the learning curve or the prospect of losing to more experienced players.

Thus, with their jobs on hold, people finally have the time to learn the games properly and are aided by the ability to practice on demo/free accounts.


A Substitute for Betting on Sporting Events


Covid-19 also led to the cancellation/postponement of many sporting events. This meant people who used to bet on sporting events had very little to no action to bet on. The online casino also proved a worthy alternative for these sports gamblers. This also forced many online sports betting companies to integrate casino gambling into their product lists.


The future is uncertain at the moment but one thing is for sure that a lot of customers will continue to switch between conventional online sports betting and card games, Roulette, and virtual slot machines for time to come.


Improved Mobile Technologies


The percentage of internet users around the globe continues to rise every single year. Like many businesses online, this is excellent news for online gambling companies. They have a wider market to target and the potential to grow rather effortlessly and seamlessly.

Not only this, but a Forbes article also stated a 70% hike in internet usage in 2020. What this means is that not only are there more people using the internet but old users are also consuming 70% more internet during this year.


Thus, it can be said that wider availability of the internet, and improved smartphone and mobile technology have made online gambling super-accessible. Gone are the days of dead-slow navigation through clunky gambling sites. Now, almost all major gambling companies have dedicated apps that run smoothly, are easy to navigate, and offer a streamlined, virtual experience anywhere in the world.


With the new 5G network, the whole process of placing bets from a mobile phone is quicker and easier than ever in 2020.


Willingness to Spend Money Online


To go along with the improved mobile technology, internet security has also been improving tremendously.

Things like two-factor authentication, password encryption, and advanced fraud recognition have all helped to reduce scamming and increase users’ confidence.


As a result, people have now become very comfortable with entering their credit card details on a website or smartphone app.


Is This Trend Going to Continue?


The COVID restrictions are likely to remain in force for most of the year 2020. However, once over, it will be interesting to see how it will impact the boom online casino is experiencing. The main question at the moment is will online gambling companies retain their new user base post-COVID-19.


It is noteworthy that even before the impact of the pandemic, online gambling included mobile gaming was projected to grow to USD 127.3 billion by 2027. One can presume the pandemic is certainly going to continue to have a positive impact on that number for the short term, at least.


As said, with the newer technology and digital tools at their disposal, online gambling sites will continue to retain and bring in users even after the pandemic. All considered, it can be reasonably concluded that the online casino boom of 2020 will have long-lasting effects on the gambling industry on the whole.


Besides, If betting companies take advantage of this bonus influx of new users, 2020 could provide a nice boost to the industry’s projected growth.


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