Since the advent of smartphones, the online entertainment industry has focused more on mobile gaming. The real breakthrough in the field of mobile gambling was the appearance of the first mobile applications for playing for real money.
In 2016–2017, a huge number of gambling apps for smartphones operating on iOS and Android “broke” into the iGaming market. Over the past year and a half, mobile gaming revenue has reached over $64 billion. It’s interesting how quickly mobile games are trying to replace computer games. And this is quite natural since about 5.22 billion people use mobile phones, which is 66.6% of the total population of the planet.
Gambling is a large vertical that includes several components, the main ones being casino and betting. The influence of cryptocurrencies on the gambling world is becoming more significant every day: more and more crypto-friendly casinos like www.bitcoincasino.io appear. These online casinos add cryptocurrency deposits to the list of payment methods, and the number of casinos that completely abandoned the acceptance of fiat money in favor of cryptocurrency is growing.
Like in other areas, you can increasingly find elements of virtual reality in online casinos. Games with live dealers have already become commonplace, and betting in bitcoins is becoming a new reality.
The active development of cryptocurrencies has significantly contributed to the development of gambling for money. By the beginning of 2020, online casino revenues in Bitcoin, Litecoin, Ethereum, and other cryptocurrencies exceeded revenues in traditional currencies. This trend has served as a powerful impetus for the development of iGaming.
The extensive spread of cryptocurrencies in online casinos has become a big obstacle for government agencies, which wanted to make the gambling business as regulated as possible. Therefore, it can be argued that the emergence of online casinos, in which the only currency is a cryptocurrency, dropped the regulation of the online gambling segment for ten years.
What makes cryptocurrencies so attractive to online players? Well, they call anonymity a truly important advantage. There is no longer the need to reveal the real name, bank account or credit card details, or the country in which a potential gamer is located.
For many customers of online casinos, such an aspect as independence plays a fundamental role. The player controls his/her own money independently of the third person. No one can block or confiscate coins — this is the main advantage of decentralized cryptocurrencies in the iGaming industry.
The secret of cryptos’ success lies in the fact that they facilitate access to the gambling market for people in jurisdictions with prohibited gambling. Asian countries are known for the fact that conducting transactions with gambling sites involved in them will arouse suspicion among banks and public regulatory authorities. Therefore, crypto and blockchain technologies allow users to be confident in the safety and fairness of games on casino sites.
According to experts from Technavio and Juniper Research, the global gambling industry will grow by $119.07 billion from 2021 to 2024. Almost half (49%) is accounted for by games for smartphones and tablets. Meanwhile, in fact, the growth rate of the global online game market is sometimes ahead of experts’ forecasts.