The online casino space has gone through plenty of changes over the past few years.
If you think back to the sector only twenty years ago, we would never have thought that online casino games in the future would be taking place online. While people knew that online casinos would emerge, there was little expectation that online gambling would become more popular than in-person betting and casino games.
Given the strides taken by the online casino space in the past five or six years, many people who follow the industry may be curious about future trends.
Below is our list of changes that could take place within the sector during the rest of this year and in 2023.
Gambling Legalization in the United States
The first victory for online gambling in the United States came in May 2018, when the Supreme Court decided that states were allowed to deal with the legalization of sports books.
Many states have since passed laws ensuring that signing up for an online casino or sportsbook is legal, provided that entity has a license to operate in the state. While there are still parts of the U.S. where gambling is a legal gray area, those states are few and far between.
Experts connected to the industry believe that in the next four to five years, every person residing in the United States will have the chance to sign up for an online casino or sportsbook platform, regardless of the state they call home.
Crypto Casinos and Sportsbooks
Even though cryptocurrency has been going through a challenging time over the past few months, it does not change the long-term outlook. Currencies such as Bitcoin are becoming a significant part of the financial space, while they are equally important to the online casino space.
Not only do some online casinos allow for using Bitcoin to add and withdraw money, but there are also specific platforms that are crypto-only. Such an online casino or sportsbook would only permit transactions involving Bitcoin or other cryptocurrencies.
These platforms are ideal for people who care about privacy. Perhaps someone does not want their bank statement to show how much money they have been depositing into or withdrawing from an online casino account.
Virtual Reality Betting and Card Games
The Metaverse is set to shake up the entertainment and gaming spaces in the next few years. Given the ambition of Meta CEO Mark Zuckerberg to make virtual reality a cornerstone of the company’s business, they are putting a lot of money into the venture.
People who have a VR headset, such as the Oculus Quest, can already check out a few of the online casino games that are available to download and play. Most of these games do not involve playing with real money, but such features are expected to come very soon.
Virtual reality creates a whole new way for online casinos to market their services. People can still gamble from the comfort of their homes, but they can now mimic the casino experience through a VR headset.
Losses for Brick and Mortar Casinos
While not technically related to the world of online casinos, there are many businesses that offer both in-person and online gambling services. These companies, along with other brick-and-mortar casinos, may suffer losses during the rest of 2022 and most of 2023.
The world economy is experiencing a recession or slowdown, depending on the economists you believe. Even though the technical term for the slowdown is debated, there is no denying that many countries are struggling at present.
Such a situation means that people traveling to Las Vegas, Atlantic City, or other places where brick-and-mortar casinos exist is less likely. Even though those cities will still get plenty of visitors, the numbers are likely to be lower compared to previous years.
Gamble Safely and Fairly
An advantage of signing up for an online casino and sportsbook is that you can play your favorite games without worrying. All your personal information is safe, while you would have next to no details accessible by a casino if you pay with cryptocurrency.
These platforms not only maintain a secure space, but they also work hard to ensure all their games are fair. Using the latest technology, online casinos make sure that poker, blackjack, roulette, and slot games give everyone the same chance of success.
This article was written in cooperaiton with Singh