Gambling is one of those taboo activities that people keep partaking in despite the fact that it’s viewed by most of the population as something irresponsible. However, one cannot deny the appeal and the mass adoption despite the somewhat unclear regulations in certain areas.
This is the main reason why online gambling has only increased within jurisdictions that don’t allow physical gambling whatsoever. Not to mention that it has also increased thanks to the restrictions imposed by the authorities during the Covid-19 pandemic. But one might wonder what will happen to gambling as a whole even after all this madness is over. Let’s find out.
Gambling in the Past Decade
During the 2010s, gambling as a whole saw somewhat of a rise among people aged between 25 and 40 years. However, the sector that saw a drastic increase was the online gambling segment. And it all culminated in 2020 once the coronavirus restrictions were set in place.
But even so, despite online gambling’s rise, physical gambling took a huge hit, and the profits made from the online medium aren’t enough to subsidize brick and mortar casinos. The recent market report perfectly showed how the online segment has drastically grown, not only thank to Covid-19, but also thanks to esports wagering and the recognition of video games as truly competitive sports.
Gambling in the Early 2020’s
As of now, online gambling is still on top of brick-and-mortar casinos and physical sportsbooks thanks to the fact that restrictions are still set in place within many states. However, that might soon change once a large part of the population starts getting completely immunized to the virus.
You see, psychologically speaking, many people miss huge social gatherings, so we might see a drastic increase in casino goers at first. However, that number might soon drop down again once people realize that it’s much more convenient to just place bets online.
Broader Options Are Coming
It is safe to say that the landscape won’t necessarily change in the coming years. But it will be vastly improved. New options, like virtual reality or live casinos, have already hit the scenes, and they’re spicing up existing communities like never before.
But there are also other amenities that have and will accelerate online gambling’s growth even further. For example, blockchain technology has been successfully used to facilitate lower transactional fees and faster payouts towards bettors. And with the help of current security protocols, the users’ privacy and money are safer than ever.
Furthermore, the ability to transaction in any currency (including cryptocurrencies) is yet another enticing thing about online gambling. It will be interesting to see how it will affect the crypto market once this trends becomes mainstream.
Peer-to-Peer Betting?
If you’re a sports bettor yourself, then you might have started your so-called “career” by betting with your friends. This is the so-called “peer-to-peer” style of gambling, similar to the concept of peer-to-peer that you see when torrenting. It essentially means “from person to person”.
The thing is that many gambling enthusiasts and industry leaders believe that this type of betting will soon start to make a return. But how does this work when you want to bet online? Well, in this case, the casino works more like a third party that facilitates the action rather than the house itself. You’re not betting against “the house”, but against other individuals.
All the money goes inside the same common pool, and the winners take their winnings from said pool while the casino can charge a small upfront fee for operating said pool or it can just take a percentage from the winnings themselves.
Final Thoughts
What do you think the future of gambling will look like? Feel free to leave us a comment with your thoughts, be them researched or not. It’s always fun to speculate about this kind of things. So let’s get the discussion started and wage on our favorite outcomes!
