Here are the four major developments in the industry in 2022.
The gambling industry is gradually becoming one of the world’s biggest, and like most big industries, it’s constantly evolving and undergoing massive changes.
The pandemic led to a massive boom in the industry. People were stuck at home with nothing to do, so most turned to online gambling. It’s been more than a year since the pandemic, the restrictions have been lifted, and the industry is still booming while undergoing numerous developments. These developments are coming rapidly, and if you’re not watchful enough, you might have missed some. Worry not though; in this article, we’ll cover some of the major developments in the gambling industry you might have missed in 2022.
According to gambling expert Klara Czerwinska, “Dla graczy do?? wa?ne jest, aby nad??a? za najnowszymi trendami hazardowymi, poniewa? te mog? odegra? kluczow? rol? w ich hazardowej przygodzie. Gracze mog? umiej?tnie wykorzysta? rozwój bran?y hazardowej w d??eniu do sukcesu, dlatego te? witryny takie jak polskie kasyna online istniej? po to, by gracze byli na bie??co z najnowszymi trendami bran?y.”
(“It’s important for gamblers to keep up with the latest gambling trends as these trends can play a vital role in their gambling journey. Gamblers can utilize the developments in the gambling industry by using them in their pursuit of success; it’s also why sites like Polish online casinos are dedicated to ensuring that players stay updated with the latest trends.”)
Here are some of the major developments that have rocked the gambling industry in 2022.
1. Cryptocurrency and Gambling
Since the 2020s began, cryptocurrency has become an integral part of our world. Most industries have now integrated it into their systems, and the gambling industry is no different.
Currently, most major gambling sites now accept deposits and withdrawals in cryptocurrencies. But it’s no surprise though, because the two industries are simply perfect for each other. Most gamblers love to stay anonymous, and that’s one of cryptocurrency’s biggest pros. Furthermore, people now want to be able to withdraw their winnings as fast as possible. Most of the traditional payment methods available usually take days, but with cryptocurrency, the entire process is completed in minutes and hours at most.
There’s also the security that comes with using cryptocurrency. Because of scams, most people are scared to put their banking card details in an online casino. But with the new cryptocurrency development that most gaming sites are adopting, these fears are eliminated. These pros are important to the successful operation of an online casino and are why cryptocurrency has become a huge part of the gaming industry today.
2. Smartwatch Gambling Apps
In 2021, the total number of smartwatch users crossed the 200 million mark, and gambling experts predicted that it would be the future of online casinos. It’s 2022, and it turns out that these predictions were accurate as major gambling software providers are now creating smartwatch-based games.
This is part of the industry’s mission to ensure that gaming becomes easily accessible. Three decades ago, going to a land-based casino was the only way to gamble. The late 90s and early 2000s saw the rise of PC gambling, and by the 2010s, everyone could access an online casino on their mobile phone.
Once again, it’s 2022, and the industry has moved to smartwatches, with games like Lucky Slots, Double Luck Nudge, and Wolf Gold now available on both iOS and Android smartwatches.
3. More Gambling Restrictions
The gambling industry is a multi-billion dollar sector, and as though, many criminals see it as the perfect way to launder money. These phenomena have been going on for decades, with millions of dollars being laundered annually.
In 2022, most gambling commissions have enforced stricter laws to control how casinos handle funds. In this year alone, three major gaming establishments have been slapped with heavy fines for failing their social responsibility and allowing criminals to launder money through their sites.
In March, 888 UK Limited was fined £9.4 million by the United Kingdom Gambling Commission (UKGC) for laundering offences. BetVictor suffered a similar fate earlier in January when they were handed a £2 million fine for the same offence.
4. The Rise of Online Casinos
Land-based casinos are yet to recover from the pandemic’s blow. Most people who discovered online casinos during the lockdown fell in love with them and are yet to return to traditional houses.
Since traditional casinos are not readily available in all locations, players have to spend a lot on traveling and accommodation fees before they can play their favorite games today. But thanks to the introduction of online casinos, there’s no longer a need to spend on these expenses. Just log on to your gambling site and place your wagers.
According to Earth web survey data, 46% admitted to gambling in 2022, with 18% claiming to have gambled online.
The Bottom Line
It’s almost impossible to find someone that has not heard of the gambling industry in the world. The industry has grown into a major force, generating billions of dollars in revenue.
This is all thanks to the innovations and developments constantly rocking the industry. In 2022 alone, there has been a massive adoption of cryptocurrency as a payment option in many online casinos. The year has also shown that smartwatch gambling apps are the future of online casinos.
Furthermore, there’s been a steady decline in land-based casinos, with more players opting to play games online. Finally, different regulatory commissions have created stricter laws to control the high level of money laundering in the gambling industry today.