The year of the water tiger is approaching and with it, we look at what trends will dominate the casino game industry in 2022. The world has changed in the last 2 years and with those changes, we have seen some shakeups in the casino game industry. There are now more players gambling online legally than ever before with many countries introducing regulations to curb the black market.
This new era of regulation had already started prior to the pandemic but with so many casino players moving online, it has only accelerated. We saw countries across Europe and states across the USA and Canada start implementing strong policies to ensure that customers are protected and have access to regulated, licensed casinos.
We will then look at the trend and continued evolution of casino bonuses and new casino sites.
We have also seen an explosion in terms of Crypto based casinos that are looking to take advantage of this fledgling market. This trend has extended across both regulated and unregulated environments.
Regulation in the Casino Game Industry
The money generated by casino games via the internet using desktop and mobile devices is referred to as the online gambling market. The market includes, among other things, gambling establishments that produce online sports betting, casino, bingo, lottery, and poker games.
The regulations governing online gambling differ dramatically from one country to the next. Most countries have their own local laws that address the legal and regulatory concerns at hand. The gaming regulating process in countries like the United States is far more complicated. Gambling is very strictly regulated in nations like India. It’s difficult to keep up with all of the numerous gambling rules that each country has enacted.
We will however highlight some of the major regulatory changes in the US, Canada, New Zealand and Germany to offer you a perspective into the regulatory trends which we think will dominate 2022.
We have seen gambling regulation pass into law in Virginia, North Carolina, Wyoming, Arizona and Connecticut in 2021. It has been like watching dominoes fall as each state takes its cue from those that have come before. We expect to see Washington and New York regulate in 2022 with California following soon after. To see the full list of regulated states and their regulation progress, you can visit ESPN here
Canada has been an interesting case with PlayOLG already operating as a monopoly and a number of online casinos operating out of Kahnawake. This looks set to change in Ontario in 2022 with a licensing process set to start in February. This will not only break the monopoly that PlayOLG holds, it will also address the grey areas surrounding the legality of playing casino games at offshore operators.
New Zealand saw one of the largest land-based casinos take to the online market when Sky City launched its very own online casino via a Maltese subsidiary. This was really a slap in the face of the local laws which allow offshore casinos to run in New Zealand whilst local businesses may not offer casino games online. This move by Sky City seems to have forced officials into a corner with new regulation expected to be drafted in 2022 and implemented in 2023.
Germany looks to be a use case for how not to go about regulating online casino games. The regulators have changed restrictions numerous times, altered the licensing process and restricted play so heavily that legitimate online casinos are hesitant to enter the lucrative market. This is likely going to lead to players playing at unregulated, unlicensed casinos that offer no player protection and pay no local taxes. This has already been seen in other countries like Sweden where regulators drove players away from local casinos.
New Casino Sites in 2022
The casino industry continues to see new innovative bonus mechanisms and new casinos sites proliferate the landscape. The UK saw a record number of new licensed casinos enter the market in 2021 and expects further expansion in 2022. According to recent UK new casino site statistics, new online casinos are opening every month, and the trend is expected to continue in 2022. More casino operators are entering the market, bringing with them new features, more games, improved gamification, and bigger bonuses to shake things up. However, not all online casinos are created alike, and there are some factors to consider while trying out new casinos in 2022. This is a crowded industry with a lot of options. Whether you’re a seasoned pro or brand new to online casino games, there’s something for everyone.
Crypto Based Casinos
Cryptocurrencies will continue to gain popularity in the casino game business in 2022, as numerous online platforms now accept them. Because of the novelty and privacy that Bitcoin and other digital currencies provide, many users like and prefer these transactions from deposits, withdrawals, and gaming. Traditional payments will continue to be accepted by the sites, but cryptocurrencies are gradually replacing them since many people desire anonymity, especially when dealing with something as sensitive as gambling.