Pwc Casino Gaming Report

admin 8/1/2022

With the passing of time, the gambling and gaming industry have exhibited numerous transformations over the course of the past decades. Now, in the modern world, these changes remain and have evolved to include technological advancements. With the the commencement of crypto currency in casinos lat year, many forecast that this year should be another interesting one that is set with new trends to redefine and transform complete areas of this huge industry. Here under are some of the top gambling and gaming trends for online and real casinos in 2021 and the top statistics which may impact the entire casino industry:

Crypto Set to Dominate Around the Gambling World

Cryptocurrencies will continue to dominate the gambling industry with many online platforms accepting the crytpo this year. From deposits, withdrawals, and gameplay in Bitcoin and other digital currencies, many people enjoy and prefer these transactions because of the security and anonymity. Traditional payments will still remain an option for the biggest gambling sites, but now, cryptocurrencies are slowly replacing these old methods because many just prefer being anonymous an untraceable especially with something as sensitive as gambling. On top of that, the added security of crypto make consumers feel more at ease because identity theft and hacking are minimized. Thus, crypto has grown to to become the prime and preferred choice for many gamers and it will continue to be this way for the forthcoming years.

Access Even in Restricted Areas of Gaming

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Because cryptos brought to the gambling world anonymity and it is virtually untraceable because people do not tie in their personal information with this digital currency, this has allowed many players from around the world to access and play in online gambling games in localities that originally restricted and outlawed. Imagine, in places that have banned physical casinos, there has been a rise in online gambling sites because of the protection accorded by cryptocurrency. To illustrate, a country like Taiwan with a strict regulations is now seeing a rapid growth of online gambling sites which take cryptocurrencies as a mode of payment. Sites like Online Casino TW engage Taiwanese players to peruse and enjoy gaming through a variety of online casinos that accept Bitcoin. This growing demand will keep improving over the next couple of years as online casinos grow confident to push for promotion and for expansion in these areas. Tapping this under served market is now given primary concern because of the large volume of possible revenue that can be taken from these markets.

Changing Consumer Habits Quickly

With every person having their mobile device, both mobile and social gaming have a huge impact on the online gambling world. There has been an increase in people choosing to use their phone for gaming. As a result, there have been an increase in F2P (free to play) types of game products world wide. While F2P games do not make direct profits and income, and are seen as more for entertainment, revenue can still be made in other ways. Often players pay a small fee to upgrade their favorite game to access certain features. They also willingly pay a minimal amount when they buy a different kinds of virtual offerings and game products for the improvement of their gaming experience. This shows that people are willing to spend on entertainment, and even something deemed as free, is not totally free at all. Both online and casino operators are hard at work to leverage this data to their advantage because these F2P players are potential clients and they have strength in numbers, which one tapped will boost revenue in massive proportions.

Dealing with More Live Dealers

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Players show preference over online casinos that show a realistic real live casino from their homes. They enjoy an engaging “real, live” dealer, which is the primary reason they started this gaming habit, while never having to leave the house. Thus, more online casinos are using this information to gain leverage for the benefit of their online sites. On top of that, they beef up the same angle in the brick and mortar casino as well. For instance, the use of dynamic, lively dealers in games like Blackjack and Baccarat are popular with online casinos and many real casinos concentrate their efforts on providing engaging dealers on the casino floor. Ever since the casino industry started, consumers have always been drawn to dealers who possess the quick wit and charm. There is just something about this human interaction that makes it tempting for people to play more and stay longer. With advanced technology, dealers look real and just as engaging online.

VR Based Gaming on the Rise

Virtual Reality or VR is another nifty invention that paves the way for a more immersive casino experience. With more VR accessories readily available to the general public, the push for VR based casinos to evolve is on the horizon and is only a matter of time before everyone has easy access to this virtual reality casinos from the comforts of their own home. Net Entertainment, one of the gambling word’s best and most popular software providers, has recently shown and proven that they are ready to upgrade when they showed a demo of their virtual reality version of their in demand Jack and the Beanstalk slot machine game. Now, there is a strong outcry for the release of more VR versions of their other popular games.

Land Based Casinos on a Decline

Land based casinos are feeling the burn from their online versions and are facing a rapid decline with the recent popularity of online gambling sites. There have been a decrease in rates over the past year, especially since people need to make an effort to make their way down to a real casino. These brick and mortar casinos are concentrated in one area, such as Las Vegas or the Jersey Shore. People have to spend a lot of money to get themselves to these brick and mortar casinos. The amount of money and time wasted before a client can play a game is already exorbitant before he or she even gets to the actual casino. Because of this, consumers are opting to save their transport and other incidental costs, and they channel these figures to online gaming where they can use their money for bets, instead. Online casinos have the edge because they offer more privacy and more convenience to their players. On top of that, online casinos also offer a better and more vibrant gaming experience. Some online casinos have numerous games to offer that players are hard pressed to choose. These games even go through routine upgrades, so clients will always enjoy their experience. This is something which land based casinos cannot be at par with because of their limited games.

Upgrade of Slot Machines

As casinos attempt to attract the younger generation, the industry will continue to incorporate slot machines that are equipped have a skill element. After all, younger guests are adept at these types of gaming features found in their many video games and gaming consoles they grew up playing. This proves that people really want to be engaged and entertained at all times. If they are presented with something that is redundant, they will undoubtedly get bored. And as a casino operator, this is something that you do not want to happen to your clients because the moment they begin to feel bored, that’s when they entertain thoughts of leaving to find other things to do. Upgrading those slot machines mean continuous gaming that feels new and fresh.

Interactive Gaming Systems Modify Interaction

Many online casinos deliver the best online content to meet and address their numerous guests’ expectations. Thanks to technological improvement, users can access entertaining and engaging online games in a more luxurious lounge setting through touch-enabled kiosks, wall panels, and tables. Interactive gaming systems has the power to merge the popularity of online and social gaming to the real casino floor. The name of the game has always been interactive gaming, which is why even when the current casino goers were young, they already enjoyed interactive gaming experiences with their old Atari, Sega, or Nintendo interactive gaming systems.

Introduction of New Table Games

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There are games like blackjack and poker that need a level of mastery to play correctly and to increase the odds of winning. Unfortunately, not everyone has this skill, so they are on the look out for games that may be challenging but are easier to learn. As a result, casino operators continue to bring new table games to the floor to see which ones become popular. In addition, as guests become more familiar with online and social games, they are drawn to the same types of games on the casino floor, which is why there has been a rise in interactive gaming systems in brick and mortar casinos.

Smartwatches Bring New iGaming Experience

Placing bets via a smartwatch is now a very really thing. In the past few years, people have been using their cellphones and tablets to connect to online casinos. Now, smartwatches are set to take over as a more convenient and accessible option. Others have predicted that the smart watch industry will reach its global worth of almost $33 billion by 2021, and gambling is slated to be a part of this enormous trend. Wearable technology has always been popular, and it will continue to be so in the coming years with more gaming software developers crafting new games that can be easily integrated in all devices.

Whether online or real casino, the operators goal would be to always give the clients what they want. Aside from providing a high level of customer service, fine dining, rewards programs, and incentives, the primary motivation is to give the best gaming entertainment. Now, the trend is mix the best of interactive online gaming systems and technologies with the traditional charm of the older live based casino.

Asia Pacific will be the fastest growing region for casino gaming spending over the coming five years
PwC believes there will be an easing of the current online gaming restrictions across a number of jurisdictions, allowing Governments to recoup valuable tax revenues
Social networking will be an important driver of activity and growth in online gaming worldwide

PwC has launched a new report that looks at the trends in both the casino and online gaming industries. The report entitled, Playing to Win, provides analysis onthe industry and is supported by forecasts for global spending through to 2014.

Overall, the global casino and online gaming industries have weathered the financial storms. However, some areas have seen more dramatic declines in revenue than others. What is clear from the analysis is that the shift of power within the global sector is moving from the West to the East.

Commenting on the dramatic shift of power, David Trunkfield, UK gaming leader, said:

'Asia Pacific will be the fastest growing region for casino gaming spending over the coming five years. The emergence of a prosperous middle class with considerable disposable income has benefitted the casino gaming industry in Asia Pacific. This, together with a deep cultural attachment to casino and other forms of gambling in the region, has driven demand. Increased investment in the region has seen Singapore’s rapid emergence as a centre for casino gaming, and the long-established gaming centre of Macau has seen the development of further resorts and an easing of visa restrictions.'

In the UK, the Gambling Act of 2005 did not provide the boost to the market that was originally anticipated, as it did not provide for the regional 'super casinos' that were originally proposed, which as the experience of Singapore shows, can drive not only a step change in gaming revenues, but also in wider tourism activity.

David Trunkfield, UK gaming leader added:

'As economic conditions improve, we expect the UK market to rebound, but initially only at low, single digit rates. However, with up to 16 new 'large' and 'small' casinos scheduled to open, many of them in areas where no casinos have previously been permitted, the UK market will experience a significant boost around 2013-2014. Casino revenues in 2014 will be 16 percent higher than in 2009.'

Online – a world of uncertainty

The regulatory complexities are greater around the online space than in the casino sector and will continue to shape the industry going forward.

The legal and regulatory position of online gaming, even within particular jurisdictions, is unclear and open to different interpretation which creates uncertainty and confusion for consumers and market participants alike.

The regulations in force also differ noticeably between the various forms of online and mobile gaming which broadly fall into six disciplines: poker; casino gaming; betting on horse races; betting on other sports, such as football and baseball; online bingo and online lotteries. And in some cases offerings are now growing so quickly that they are outpacing the development of new legislation and regulatory frameworks.

David Trunkfield, UK gaming leader, added:

'We believe there will have to be an easing of the current restrictions. Consumers will engage in online gaming whether it’s legal or illegal and by legalising the industry, Governments would recoup valuable tax revenues which are much needed following the impact of the financial crises on public sector finances.'

One approach that has emerged through this confusion is the 'walled garden' approach. This involves regulatory authorities introducing a regime that legalises specific types of online gaming services within their own territory, as long as they are provided by operators licensed within that country or state and only to people resident there.

Though welcomed by some of the industry, others such as some of the US casino operators are opposed to that approach, as they say that the legalisation of online gaming will impact their revenues and shift players away from the physical venues where they have invested substantial amounts of money.

Europe, Middle East, Africa (EMEA) is currently the world centre for online gaming with the UK having the largest legal market with one of the most open online gaming market regimes of any country. However, this openness has caused a different problem. The UK has seen the emergence of offshore gaming bases in places such as Malta and Gibraltar which are targeting the UK market but limiting the tax payable to the UK Government. A consultation process is now underway to see if the UK should move towards the 'walled garden' approach rather than continue with the current regime.

David Trunkfield, UK gaming leader, concluded:

'We believe that the next five years will see an evolution rather than a revolution in the global gaming industry. But as evolutions go, it will be rapid and pervasive and far more sweeping than the change seen in the past decade.

'In the future, social networking will be an important driver of activity and growth in online gaming worldwide. The rapid take-up of online services by the millennial demographic groups has also seen them manifest growing interest in using these networks as an environment for gaming.

'Social networking’s role in driving online gaming services could be especially significant because of its high level of mobile usage.'

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Sian Mannakee
PR Manager, PwC
Tel:020 7213 2538
Mobile:07715 484 884

Pwc Casino Gaming Report 2019

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David Trunkfield
Partner and head of Gaming, PwC
Tel:020 7804 6397

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