You KNOW we are going to play this hand. Watch out people, chips are going to roll.

Mobile Tech Is Driving The Gambling Industry

A combination of the mass ownership of smartphones across the globe and the perpetual technological improvements of hardware and software on mobile devices has led to massive financial growth for online gambling providers.

The global market size was valued at over $50 billion in 2019 and reports for 2020 forecast a further $10b in growth by the end of the year. While this seems like a sensible increase, in reality this $10 billion is a 20% increase, which is a staggering figure.

The quality of the service being offered by providers is improving, such as the introduction of live betting, which is certainly a prevalent factor resulting in these increases. But, as more and more individuals get their hands on smartphones, users have the access to gamble easier than ever before. It’s said that a third of all gambling activity is carried out via mobile devices.

A variety of top-tier providers have invested millions in developing their apps and online offerings to suit mobile users. Some apps even offer mobile specific promotions to use with no deposit needed. These kinds of incentives are very effective and if they are marketed properly, there will be potentially thousands of new players joining the online gambling community very soon.

Some researchers have made predictions about the growth in the online gambling industry, with around a 12% increase per annum over the next eight years.

So What Are People Betting On?

From slots, to poker, to eSports, punters are betting in a variety of different ways. The necessity for providers to build a huge mobile presence is paramount. Mobile apps are competing with land-based gambling establishments and casinos these days and that’s something all online providers need to recognise and prioritise.

Casino games and video games have benefited massively from the development of mobile technology. While it’s true the sports betting landscape has benefitted too, it’s only the access to sports betting markets that have changed, rather than specific aspects of advancements in technology.

Live Betting Leads the Way

However, live betting, which appears to be the primary betting avenue for users, has been groundbreaking for providers. As the technology improves, providers are offering live betting on an increasing number of sports, notably with the ever-expanding eSports industry.

Individuals are always looking for a quick fix and immediate gratification – live betting markets provide just that. A level up on that is live betting on eSports markets, which generally involve really short games between two teams with a variety of in-play markets available throughout.

As well as games, casino operators now offer numerous live dealer games on mobile, allowing players to enjoy the experience of actually being at a land-based venue while on the move. The next step for technology feels like they’ll provide a live-streaming service of whatever sport, game, or slot they want, coupled with in-play betting.

The Way Forward – 5G & Cryptocurrencies

While this is only speculation, something that isn’t is the introduction of 5G to the global market. It’s true that many oppose this new technology, but the benefits are there for all to see. From loading webpages to instantaneous payment processes, the number of improvements are endless.

Another area worth touching on is cryptocurrencies. The options for crypto are vast. Everyone wants things to go quicker and cryptocurrencies already boast the fastest transaction speeds of any online payment system today. As the technology becomes more widespread, we could see cryptocurrencies positioning themselves for wider audiences.

It seems like there is a clear relationship – the more apps and technology released, the more the industry will grow. Will customers respond and want to continue to gamble? It’s probable, but who knows what the future will bring.

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