16 Nov 2015

Gambling Industry Outlook for 2021

The Gambling Industry Outlook for 2021 will include changes that will affect the industry’s growth. For starters, many online platforms will now accept cryptocurrency. Cryptocurrency has been gaining popularity due to its security and anonymity, and many users are hesitant to use traditional forms of payment. Even though most online gambling sites will still accept traditional methods, many will move to crypto in order to provide customers with added security. Crypto will help minimize identity theft and hacking.

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Another trend that will continue to affect the industry is the continued pivot towards legalizing sports betting and iGaming. Despite the current legal barriers, gambling revenues are expected to increase 158 percent between 2017 and 2021. While illegal gambling has been a significant hurdle to overcome, many states are considering iGaming and sports betting to create a legal framework. Several new racetrack casinos will open in 2022.

Another trend that will impact the industry in the next decade is the increasing number of new players. New players will sign up at trusted online casinos. New technology will provide enhanced gaming experiences and improve retention in operating casinos. New offerings and innovations will be introduced in 2021, and more trusted online casino sites will continue to adapt to the evolving player demands. If you’ve ever visited a casino, you’ll understand how important it is to offer a range of services that meet your preferences.

The gambling industry is driven by a number of factors, including consumer income growth and state spending. Profitability of gambling companies is largely dependent on marketing and operational efficiency. Large operators enjoy substantial financial resources and cross-marketing opportunities. Smaller gambling establishments can survive if they cater to local communities. The gambling industry is highly concentrated in the U.S., with the top 50 gaming companies accounting for 60% of the market and nearly half of the casino hotel industry.

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