Global trends for the betting industry in 2021
COVID-19 made 2020 a difficult year. Experts have detected some interesting trends for the upcoming months. Online platforms, virtual sports, and cutting-edge technology are boosting betting businesses in the beginning of this 2021.
Time flies, and the first quarter of 2021 is almost gone. During the first months of this year, the betting industry experts have been able to detect some global trends that seem to be here to stay.
What are those trends and how can betting businesses take advantage of them?
The online boost
It seems pretty logical that, due to the impact of the COVID pandemic and the lockdown on the retail sector, the number of bets on the online channel would increase. Well, it did, but that is not the only reason.
Consumers demand convenience on the way they bet, and computer and mobile devices are the solution. Anytime they want, wherever they are, they can bet on their preferred events just through their mobile phone. This is a huge trend. In fact, mobile gaming is set to dominate the gaming market with a 59%1 share during this year.
This is why, every time, betting providers are developing and improving their solutions to offer an omni-channel software.
Also, security improvements of the new digital payment methods, including cryptocurrencies and blockchain, help desktop and mobile betting to grow.
The Virtual Sports & Esports kingdom
While real sports can suffer delays, cancellations, and even a long lockdown as we have experienced recently, virtual sports and esports ensure a more stable betting solution based on virtuality.
This means that punters will be able to bet easily, without needing a deep knowledge of the industry or the conditions that may affect the result of the event (for example, if the main player is injured or if it's going to rain on the match day). Plus, they are accessible to people everywhere, any time.
This consistency and accessibility, together with the huge opportunities that technology is bringing each time to introduce new gaming products, engaging features, betting options, and improved visual and sound effects, are turning virtual sports and esports into strong verticals, not only now, but also in the years to come.
New markets opening
Every year, more authorities and governments understand the benefits of legalising and taxing gambling and sports betting, as well as the amount of tourism associated with these leisure activities.
With the new betting and gambling laws passing in big regions like the US and Latin America, 2021 looks quite optimistic for the industry, that will have more opportunities in huge and very interesting markets.
Technological development increases exponentially with the passing of time. Something that took decades in the past is upgraded now in a couple of years, making our lives easier, safer and more comfortable.
The betting industry can also take advantage of the latest technologies. Actually, it has recently started to prove the possibilities of Artificial Intelligence (AI or machine learning), Virtual Reality (VR), and Augmented Reality (AR), among others, which can enhance players’ perception of reality, providing a more immersive betting experience.