Online gaming and esports have been gaining popularity over the last few years, but COVID-19 led to higher interest in online services segment. As people were stuck at home during lockdowns and restrictions announced across the world, entertainment and gaming service providers shifted their focus to online platforms.
eSports events have also started gaining subscribers. Popular multi-player gaming companies like Activision Blizzard, TenCent Holdings, Take-Two Interactive, and EA Sports have planned many new titles. The game developers also support many major esports events, and they have been sponsoring the prize money for winners.
The future for esports is looking promising as many new gamers will join the party. Another interesting option for gamers is Amazon supported platform Twitch. Popular gamers on Twitch stream their play to their fans on the network and earn money. With support from Amazon, Twitch has the potential to offer a reliable revenue stream for gamers.
While the sports-betting segment had issues as sports events were canceled during 2020, iGaming registered decent growth in gross gaming revenue during the first half of 2021, and the total revenue figures have beaten previous records. During the second quarter of 2020, COVID-19 induced lockdowns led to lower revenue for all gaming and sports betting markets. However, the figures for Q2 2021 represent a quick recovery in all the markets across the United States.
As per American Gaming Association’s Commercial Gaming Revenue Tracker, the total revenue from iGaming, casino games, sports betting was recorded at $13.6 billion during the second quarter of 2021. iGaming is legal and active only in six states across the United States. New Jersey has registered strong growth in numbers. Online casino fans can find here the options for placing their bets on the best platforms that offer casino bonuses and a wide variety of games.
For commercial casinos across the United States, the capacity has been restricted to 50 percent due to the COVID-19 pandemic. During the pandemic, the majority of casinos were closed, and some casino operators also planned a shift to an online casino.
As per AGA estimates, 2021 could end up as the year with the highest revenue for the overall gaming industry.
The younger generation is more inclined to take risks, and as they are tech-savvy, they have been the main growth driver for the online entertainment industry. As higher interest has emerged in the online casino segment, casino games developers have started offering better consumer interfaces. There are live dealer games on many platforms that are as good as placing your bets in land-based casinos.
The online industry has received a major boost during the COVID-19 pandemic, and industry experts believe that this growth will continue in the future as well.
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