2021 is before us, and several persons don’t know what to anticipate after 2020. Whether in sports, politics, or society, we cannot help but wonder what will change and stay the same.
One of the substitutes that sports fans turned to during lockdown was gaming. For those who enjoy a wager, the world of casino games was a particular draw, offering both a distraction and that excitement of placing a bet of different type. For online casinos, we have insight into how 2021 will pan out and what events will take the forefront in the industry. From gambling habits to payment for games, several trends are set to take the stage. Let us consider five of such trends.
Trend 1: Mobile Gambling
Mobile gambling is not new to an online casino, especially as smartphones continued to gain popularity. Although many people already use mobile phones to carry out their gambling activities, we expect more widespread use.
As of 2019, about 50% of people used their phones for gambling. This figure is bound to increase in 2021 after the coronavirus lockdown led people to depend on their mobile phones to play casino and other games online.
Suffice to say that many people must have discovered how secure and easy it is to gamble on their mobile phones. We expect that even if restrictions ease and physical casinos open up, many persons will ditch physical casinos for their online counterparts.
Trend 2: Using Cryptocurrency as a payment method
We know that crypto is fast becoming a method of payment in many industries at the moment. The casino industry is not doing anything outside the norm by joining the growing list of people embracing cryptocurrency as a payment form.
A few years ago, many gamblers couldn’t wrap their heads around how it worked; so many online casinos were hesitant to try crypto. With a lot of exposure to this currency, we expect that in 2021, many online casinos will accept cryptocurrency as payment for gambling. Several casinos already offer bonuses to gamblers who use crypto.
Trend 3: Stiffer Competition
Online casinos should prepare for serious competition in 2021, as many new online casinos will flood the market. The ease of setting up new casinos using white labels and the profitability of the industry will make people set up casinos.
With hopes that the COVID-19 pandemic will wear off in 2021, many people will be excited to jump into gambling after a long break.
Many people will celebrate the increasing numbers of new online casinos, especially because of the variety they offer. However, finding an online gambling site is a careful process. Find out what casinos are registered, approved, and legitimate before putting in your money.
Trend 4: Electronic Sports Betting
The e-sport betting industry is growing fast, even as general sports betting has been famous for a long time. Many online casinos are making e-sports begging a part of their website, and this will continue throughout the year.
With the new trend, you won’t only bet on traditional sports, but new sports and events will join the list soon.
We expect football, horse racing, and other sports to continue as the most popular sports for gamblers. However, we will also see other professional games and tournaments taking the forefront in online casinos.
Trend 5: Gambling Licenses will continue to be a big deal in 2021
Gambling licenses are a must-have for legit and approved online casinos, and careful gamblers should always check a casino’s gambling license before putting in their money.
The gambling license is a guarantee for gamblers that their deposits and withdrawal options are safe and free of errors. The license also assures you that the game will be fair.
If you have not been paying attention to gambling licenses, read through the rest of this post and discover more about gambling licenses, their functions, and what laws back them.
First of all, gaming licenses are compulsory for every legitimate casino. They get these licenses from their regulatory bodies or gaming commissions.
The requirements for getting licenses to change from one jurisdiction to the next. The rules are made by the gaming commissions that decide what requirements are necessary for an online casino to gain legitimacy.
The rules and regulations from these gaming commissions guide the actions of everyone connected to a gambling company. These rules tie the partners, staff, employees, and everyone connected to the company.
Such rules span through activities like auditing, accounting, and other activities carried out in the firm.
What are the Jurisdictions concerned with gaming licenses?
Most of the gambling commissions in the world engage in multiple jurisdictions approaches for their registration. Look out for several jurisdictions that online casinos follow when applying for their licenses.
Antigua and Barbuda’s Gaming Jurisdiction
When acquiring a license on both the Caribbean islands of Antigua and Barbuda, online casinos need to get approval from the Financial Services Commission as well as its branch, which is the gambling department.
This country offered offshore licenses to online gambling companies, and they have been doing this since 1994. Owners of primary servers in this country pay $75,000 every year and pay 3% taxes from their net winnings.
Interactive gaming and online gambling companies pay $75,000 and $100,000 respectively every year.
Curacao’s Gaming Commission
Curacao began giving out gaming licenses in 1996. So far, they are one of the most reliable license providers. This famous regulatory body has the same license for sports betting, luck games, and skill games.
The Gaming Commission in Malta
In 2000, the republic of Malta got its laws for a state lottery and began handing out licenses to online gambling companies. The lottery and gambling department must set all the rules and regulations for all remote gambling companies.
Online casinos and casino gamblers have several positive things to look forward to in 2021. There are hopes that the coronavirus pandemic will ease off and give way to a more active casino season. But whether or not this happens, you can expect these trends to take place.
Preparation is important so that you can make the best of these trends for the year and enjoy online casinos all the more!