Gearfuse Technology, Science, Culture & More
There are a lot of things that make 2020 a year that will be remembered in the history books. One of the major stories of 2020 is the coronavirus pandemic that disrupted the normal way of life across the world.
One of the major ways life was disrupted was due to the implementation of social distancing norms and lockdowns in a number of countries to prevent the spread of the virus. Entertainment venues, bars, pubs, and casinos were told to shut down and people were advised to stay at home as much as possible.
However, while the streets of the real world were empty, the virtual world had a different story to tell. The increase in traffic due to the lockdown actually caused significant declines in download speeds for both broadband and mobile internet.
Along with other internet services, online casinos have also seen a significant spike when it comes to traffic. Even though it is fair to say that the spike was only caused due to the fact that land-based casinos couldn’t function anymore, there is an argument that can be made for 2020 to be a tipping point year for online casinos.
A remarkable opportunity due to an unfortunate event
The best online casino sites have been seeing growing numbers when it comes to traffic for years before 2020 too. The global online gambling market was projected to grow at a compound annual growth rate of 11.5% from 2020 to 2027 but it is natural that the increased number of players will contribute a lot to increasing the rate.
It would also be fair to say that the online gambling market has significantly matured in this decade. Some contributing factors include better technology, more investment, and new markets in developing countries with fast and cheap internet access.
We’re halfway through the year and it is still not clear when things will go back to normal for land-based casinos. Social distancing norms have to be implemented even if the casinos are allowed to open and it is clear that most land-based casinos will not be seeing the footfall numbers they were used to.
Technology leads to innovation again?
Online casino sites have made it possible for people to enjoy the action and thrill of gambling right from the comfort of their homes. Innovations such as live casino games and promotions like providing huge welcome bonuses have only added to the charm of going digital for punters across the world.
Even though it’ll take some time for market data and research to catch up, it is clear that 2020 will be a historic year for most virtual services, including online casinos. While we’ll look back at 2020 for many unfortunate events, we would also remember it for being a remarkable opportunity for virtual services around the world.
