Over the past 14 months or so, the world has undergone some pretty marked changes.
We have seen regular industry decimated across Europe as a result of the pandemic and many businesses weakened by the uncertainty of Brexit. Likewise, virtual businesses have thrived, experiencing a new wave of customers unable to visit physical stores or entertainment venues, instead finding solace in the online world.
This is typical of the gaming industry, in which case the EGBA reports that land -based casinos took a hit in revenue over the course of 2020, while online services have fared from strength to strength . The closure of physical locations is a sure catalyst for the figures, however the evolving industry is one to keep an eye on, especially for cryptocurrency watchers.
First, why are online providers doing so well? The new influx of customers is an obvious starting point, but they have to keep those customers in the future, which is highly likely. Online gaming providers do this in a number of ways, not least with their flexibility and variety of games. One online provider is Gala Spins , and a quick glance at their game offering highlights what the industry does to keep customers. They have slot games with popular brands such as Cluedo, and different types of games, such as Slingo Deal or No Deal, a hybrid of slots and bingo. With such variety, the providers ensure that there is something for every type of player to enjoy, something seen throughout the industry.
These providers also react quickly to the latest technology, embracing live games that replicate a casino experience from the comfort of your couch. It is possible to participate in quiz show-style live games, and it won’t be long before AR and VR have an impact on the industry. Whether it’s online poker variants, a massive selection of slots or even live games (which we’ll talk about in a minute), the iGaming industry is ready to adapt to consumer demands and ensure strong customer loyalty. customers. This means the industry will continue to grow, and with providers embracing cryptocurrencies as well, this means that investors’ eyes should be on the iGaming industry.
Crypto gambling is nothing new; many providers are labeled ‘crypto casino’ because they only accept cryptocurrencies as payment. There are many benefits for both players and providers, including lower overheads, increased security, and anonymity for both parties. While the nature of the blockchain makes it inherently secure, being confidential rather than anonymous , it also offers natural protection for those who wish to remain invisible while playing their game.
If more vendors accept cryptocurrencies, this could help drive up the values of the chosen types, such as Ethereum or Bitcoin. Any emerging trend could point investors to the next boom currency. Bitcoin rose and fell in early 2021, and Dogecoin appears to be in vogue at the moment, but it’s a rapidly changing market. When an industry believed to be worth € 54 billion starts adopting certain currencies, it could quickly affect the wider market.
The fate of crypto and iGaming are not necessarily intertwined. However, the former could seriously affect the other, and any investor looking to move forward in the market should pay close attention to the development trends in the iGaming industry.