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Gambling industry growth in Ireland

Written by Contributor, on 5th Jul 2021. Posted in General

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Coronavirus, total quarantine, and self-isolation in almost all countries of the world have led to growth in the global gambling market and its most dynamic part — online casinos.

According to the data, in March 2020, when the coronavirus epidemic took over almost the entire world and many sports events were stopped, the global online gambling market also began to change.

An interesting trend has emerged: the number of players in online casinos has started to grow every week. This happened thanks to sports betting enthusiasts because there are much fewer events and possibilities to place such bets.

 The volume of the average deposit in online casinos in the world in March increased by 3% compared to February 2020.

In March, people began to use smartphones more often than computers for betting, and a fast increase of 8% was noticed compared to February. As for now, about 70% of all online bets are from mobile devices.

What Is The Attitude Towards Gambling In Ireland?

Irish law defines gambling as "games of chance or skill, with players risking their bets". A necessary element of the game is the use of special equipment: dice, cards, a table, a slot machine, etc. Local authorities have the right to determine the forms and plan of gambling control, to take measures to minimize the risk to society. But casinos successfully operate around the country.

New Reform For Development And Legalization Of The Industry In Ireland

In March 2019, the interagency working group published its report and submitted it to the Irish Government for approval. The key issue of the report is the establishment of an independent regulatory body to oversee all gambling activities in Ireland, including the new regulator to control the obtaining of a gambling license in Ireland. The government, in turn, approved this project.

To date, a new bill on the control of gambling in Ireland is under development. In parallel, research is also being conducted on what is needed to create an effective regulatory system.

Modern Tendencies, Expectations, And Future Prospects

With such a rapid growth of the industry, interesting changes are being observed. Let's look at them in more detail. So, what should we expect from gambling in Ireland in the near future?

Use Of Cryptocurrency

The use of it continues to spread to various business areas, including the gambling industry. Legislative consolidation of the legal status of crypto assets encourages their scaling and strengthens their position.

For online gambling users, the ability to deposit and withdraw funds in using this method provides anonymity and security. This determines the current and subsequent popularity of it.

According to some analysts, in 2021, cryptocurrencies will gradually replace the old payment methods in gambling. The strongest side of this type of transaction is the security provided by blockchain technology, thanks to it, the probability of identity theft is reduced to zero.

Growth In The Amount Of Live-Casino

According to experts, players around the world will increasingly prefer live casinos.

All thanks to the atmosphere of a traditional gambling establishment while maintaining the main advantage of the accessibility of any online casino Ireland from your own sofa.

Mobile Gambling

The number of players who visit online casinos and play online slots using mobile devices is increasing every year. According to the study, the number of players using mobile technologies to visit gambling sites increased by 120% in the period from 2013 to 2020.

Such a stunning result is provided by the fact that the devices have become more functional and accessible. An important role in the spread of mobile gambling is the improvement of the quality of Internet coverage.

Some casinos even launch their own mobile gambling apps.

New Technologies

Technological development has reached a high level, and the gambling industry does not exclude the possibility that this year it will be possible to place bets using a SmartWatch.

So it’s a pleasure to see how the industry is growing. Let’s see what else it can bring us in the future.

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