Technology has been advancing in leaps and bounds since the past decade. With proficient and formidable interfaces, the iGaming industry is one of the fastest-growing sectors. According to the trend analysis research conducted by the Transparency Market Research, the industry would grow to a whopping value of US $100 billion at the end of 2024. The sector made records in 2016 by setting a market value of approximately US $41.68 billion. In spite of battles with the governments of several countries, the growth of the industry is unhindered and diversified.

What is iGaming?

iGaming or online gaming is playing games or betting on the outcome of a game over the Internet. iGaming is not just limited to sports betting like the NFL but also extends to online casinos where players wager bets on games such as Roulette, Blackjack, Poker, etc.

The most popular gaming hubs are in Malta, Gibraltar, and the UK. The revenue and market size of the industry is currently at par with the global film and music industry or maybe more.

Evolution of the iGaming industry

Games, sports, and competitions have been a part of human history. Unsurprisingly, the advancement of technology meant that gaming also changed course to create a prominent presence on PCs, smartphones, and tablets. As innovation and interfaces upgrade, the accessibility and creativity expectations of iGaming are also above the normal gaming levels.

Present-day gaming

Thus, the tech-savvy generation of gamers and players insists on mobile-friendly, uncomplicated, quality games. Improved mobile hardware and powerful graphics create an atmosphere of intense competition for perfection.

For gaming operators of online casinos, this demand laid out by the gamers aggrandises the competition. The expectation is that they should give gaming deliverables, which replicates the environment of land casinos. Players also insist on secure and SSL encrypted gaming websites. Hence, online game developers may devise secure platforms without compromising with the look and feel of the game.

Future of the iGaming industry

With the aspiration of addressing the needs of the tech-savvy players, online game operators, and even the most significant search engines are leveraging the interest. Have you heard of Google Stadia? It is an online stadium where gamers can play, compete, cheer, and do all the other gaming activities as if they were in a land-based casino. In a few years, we may just have an online Olympics.

Two popular gaming options and what you can expect in the future

Augmented casinos

The augmented reality equipped casinos give players a 360-degree experience of an online casino. They harmonise with realism remarkably – a simple turn by the player can reveal the casino staff data, table details, other game details, etc.

However, augmented reality is under development, currently. Players still require additional accessories such as special glasses or headsets for a complete experience.

Blockchain casinos and cryptocurrencies

Some advanced gaming platforms also incorporate digital currencies and their underlying technology, Blockchain. Some popular options used by iGaming platforms as viable and prompt payment methods are Bitcoin, Ethereum, Litecoin, Dogecoin, and BitcoinCash.

There is general speculation that Blockchain Technology is the next phase of iGaming. Its resistance to data modification and problem-solving capabilities is the key to a future beckoning for online casinos.

Final thoughts

The brick and mortar casinos continue to remain the favourite choices of the previous generation. However, With Gen-Z players and gamers, online casino and iGaming with intelligent technology are game-changers. Days of visiting a land casino would slowly start diminishing. Players can play their favourite game from the comfort of their homes with better gaming experience. Players and betting fanatics can plunge into a game of their choice anytime and from anywhere, thanks to iGaming and Internet of Things of IoT. It is an inevitable truth that with space-age level technology, the gaming experience and interfaces are only bound to get better.

Nonetheless, with online casinos being an unregulated sector, gamers are advised caution.

Regardless of interface or gaming varieties choose online casinos that are:

• Authorised and licensed by gaming commissions
• Reliable with a happy share of winners
• Offer a variety of payment options
• Ensure data encryption
• Do not have low withdrawal limits, long cashout periods, and restrictions on non-bonus cash.
• Prompt customer desk.

Players should run an adequate background check of the gaming platform before signing up.

If you want to know which way the prevailing economic winds are blowing, look to the super-rich. Market hawks noticed as far back as September that the super-rich had stopped spending on the usual trinkets, such as yachts, private jets, and expensive artworks – a development that has precluded every recession in recent history. The rich, given the enviable positions that they occupy at the upper echelons of society, are better placed than most to respond to an economic downturn.

Given that we are now staring down the barrel of a significant recession, it should come as no surprise that the global super-rich have begun piling their money into assets and markets that have traditionally served as safe havens in times of crisis, as well as some new ones that may become the port of choice in future crises. Let’s take a closer look at exactly what the super-rich do with their money in times of crisis.

1. Luxury Bunkers

One of the most dramatic shifts that have occurred in recent years is the propensity of the super-rich to spend obscene amounts of cash on remote, impenetrable bunkers where they can ride out the apocalypse. According to research conducted by The Guardian, inquiries for ‘apocalypse-proof’ bunkers in hotspots such as New Zealand and the rural US have increased several hundred-fold since 2016.

It’s clear that the rich believe something big is on the horizon, or that it is already with us, given that Silicon Valley billionaires have already jetted off to their bunkers since the current crisis began. While some fortified luxury bunkers go for tens of millions of dollars, there are more modest ones in places like South Dakota where the rich are snapping up nuclear-proof, subterranean ‘apartments’ for several hundred thousand dollars apiece.

2. Bonds

Government-backed bonds have historically been seen as one of the safest places to put your money in a crisis, and today is no exception. Since the current economic downturn began, hundreds of billions of dollars have flown into federal and municipal bonds, largely from wealthy investors. Bonds are a popular choice because even when the market sinks, they do not depreciate as much compared to other assets such as equities.

What’s more, the interest that investors can earn from bonds are often tax-free, meaning that a substantial revenue stream can be enjoyed if one was to buy enough bonds. Bonds issued by the US Federal Reserve are by far the most popular, but municipal bonds issued by local governments are also proving to be in-demand at the moment.

Source: Pixabay

3. Cryptocurrencies

Ever since the bitcoin bubble first burst back in 2017, us common folk have largely ignored it. However, the wealthy have not. Despite dropping in value during the flash crash in February 2020, bitcoin has been enjoying a sustained rally in recent months, with Forbes recently predicting that another bitcoin boom is on the horizon.

Wealthy people have demonstrated a keen interest in bitcoin since it first came to the market, with billionaires such as Peter Thiel and Elon Musk being strong advocates. Of course, you don’t have to be a billionaire to trade and invest in bitcoin. As this guide to cryptocurrency trading explains, licensed crypto brokers in dozens of countries can get anyone started in the business of bitcoin and other altcoins.

4. Bargain Stocks

There is a common misconception that the reason wealthy people are wealthy is that they are highly risk-averse. This could not be further from the truth. While it is true that rich people tend to pile into safe assets in times of crisis, they also have a tendency to make investment decisions that would give many of us cause for concern.

For example, when airline stocks were crashing at the beginning of 2020, billionaires such as Warren Buffet began snapping up millions of dollars worth of shares. This is because a crisis is often the best time to buy yourself a bargain. Those who are brave enough to buy when shares are low and dropping often does so in the belief that they will rise again once the crisis has passed. The rich may have plenty of cash to spare, but that doesn’t mean they don’t love a good bargain.

Source: Pixabay

5. Real Estate

Even during the US subprime mortgage crisis in 2007, the super-rich were snapping up penthouses and mansions like never before. This is because, although real estate can severely depreciate in times of crisis, the long-term outlook for it is always solid. What’s more, the scale of depreciation for real estate is often much smaller than for other assets such as stocks and oil.

Given that the bulk of the ultra-luxury real estate market is now concentrated in a few densely populated urban areas that show little signs of cooling off in the years to come, such as New York, London, Paris, and Hong Kong, the wealthy are continuing to see real estate in these markets as a safe bet.

6. Hoarding Cash

While the rich do have a strong tendency to move money around during times of crisis, they also have a strong tendency to not spend at all. According to a recent survey of ultra-wealthy UBS clients, more than half of the world’s 1% have been stockpiling cash for at least a year now.

The cash holding of the top 1% before the 2008 recession amounted to just $15 billion. Today, that amount has risen to more than $300 billion and counting. While other assets may show plenty of promise in times of turmoil, the rich know better than anyone else that cash is always king.

This is what the rich do with their money in times of crisis. As current events continue to unfold, it will be interesting to see what else we learn about the habits of the ultra-rich. Stay tuned to find out.

Cryptocurrency is now a global phenomenon. The crypto industry has seen a massive rise in the last couple of years, especially after many countries legalized its trading. Like cryptocurrency, sports betting has also enjoyed a meteoric rise, thanks to tons of betting websites. The question is, can cryptocurrency become a payment method for online sports betting? And the answer is a big YES.

Punters who prefer using cryptocurrencies receive a multitude of benefits, such as free bets, faster transactions, and even odds boosts. If they can use cryptocurrency, why can’t you? This type of payment method is 100% transparent and maintains your anonymity. This means you have lower risks of getting caught if your country doesn’t approve sports betting.

Withdraw and deposit from anywhere

While it is true that you can deposit and withdraw money into your betting account using your debit or credit card, you should also keep an eye on the transaction fees. Transacting using cryptocurrencies hardly involves any service or transaction charges. However, you should review whether the site accepts cryptocurrency or not. Always read feedback from third-party review sites to understand the different payment methods that the site offers. Therefore, if you want to register on 1xbet, you should read this 1xbet review before signing up.

With more sites accepting cryptocurrencies, you can now use those Bitcoins you purchased way back and place your bets accordingly. Not only can you withdraw and deposit cryptocurrencies in your playing account from anywhere but also use this payment method safely without attracting the cyber police.

Faster transactions

It usually takes at least three working days for any betting website to transfer your earnings into your bank account. With cryptocurrency transactions, you don’t have to wait for so long. Moreover, it only takes a few seconds to transfer money into your playing account. You check the value of the respective cryptocurrency according to its market price and transfer the amount of currency into your account. The advantage here is, if the value is greater than the actual cost price, you can bet more by spending less.

Apart from payments, cryptocurrencies also allow you to withdraw money faster. You may not want to wait for three days for the betting site to transfer your earnings. Instead, with cryptocurrencies, it will hardly take a few seconds to transfer your winning amount to your bank. Plus, you don’t need to pay any transaction fees.

Benefits of cryptocurrency in online sports betting

Cryptocurrency is fast becoming the preferred payment method in online sports betting websites. Gamblers understand that they can spend less and earn more if they pay via cryptocurrencies. Moreover, a loss doesn’t seem so significant in this context unless you bet thousands on one game. Therefore, with faster transactions, low transaction fees, and flexibility in payments and withdrawals, cryptocurrencies stand as one of the leading payment methods in sports betting.

If you are an avid gambler, you should consider shifting to using cryptocurrencies while betting instead of relying on e-wallets, credit and debit cards, or net banking.