The online gambling industry has been steadily growing in recent years, and it’s not projected to slow down any time soon. Some experts are predicting that the market will continue to grow at an average of over 6% per year until 2022. There are plenty of reasons for this growth, including the popularity of social media and smartphones, as well as the rise of 20Bet betting.
In 2022, here are five trends you’ll need to watch out for if you want to be successful in online gambling
The growth of online casinos has been explosive, with mobile gaming offering a fast-growing platform for gambling. While new casinos are often springing up all over, be sure to look at a site’s reputation before signing up. This will go a long way toward ensuring you have a good time and your money stays secure.
We are witnessing an increasing level of consolidation as online gambling companies strive to stand out from their competition. This can be evidenced by several recent mergers and acquisitions, with operators no longer happy being merely a place for gamblers to gamble, but also providing entertainment services that encourage people to stay on their site.
Recent deals include Playtech’s acquisition of mobile casino developer Endorphina and Betradar’s purchase of analytics firm Sports Analytics.
Making bets on sports is one of the most popular forms of online gambling, especially among younger people. After all, who wouldn’t want to make a few bucks from backing their favorite team?
As competition grows and sports betting becomes more established, it’s unlikely that anyone will make money from sports betting soon. However, despite its rough exterior, sports betting has helped pave way for more transparency and better odds across most gambling industries.
GDPR Compliance and Data Use
With online gambling seeing a rise across Europe, privacy is at an all-time high in users’ minds. On May 25th, 2018, General Data Protection Regulation (GDPR) was enforced in 28 EU countries. The new law improves upon its predecessor by giving users greater control over how their data is processed by government bodies and private businesses.
How does GDPR affect online gambling? That depends entirely on your audience and business model. If you have any indication that a significant portion of your audience resides within one of these 28 countries, or are planning on doing business there then you need to investigate what changes GDPR will bring about; if not it’s probably best to stay out of Europe until further notice.
In 2002, just 2% of online gamblers were using their mobile devices to gamble. In 2017, that number had risen past 30%.
Why? Because of fast-growing access, almost every smartphone user can now enjoy a gaming experience that used to be exclusive to PCs. By 2022, we expect close to 100% of online gamblers will be playing on their smartphones and tablets. This is great news for companies like William Hill and FanDuel who continue pushing into mobile platforms.
Online gambling has grown tremendously in popularity since its inception in 1995, and the years to come show no signs of slowing down. If you’re in the industry, it’s important to stay on top of how the world around you is changing so that you can make sure your business stays relevant and successful.