Why online casino, cryptocurrency and e-commerce flourished in 2021 – Tech Observer
The coronavirus pandemic has affected the majority of businesses around the world. While 2020 was a year of massive losses, 2021 came with a ray of hope for business owners. Everything has started to gradually open up, and although life is no longer the same as it was before the pandemic, businesses that have survived the pandemic are now looking for ways to recover what they lost and increase their profits for 2022. In that sense, 2021 has been all about healing the damage done by 2020.
However, while most businesses struggled to recoup their losses, other digital businesses thrived in 2021. During shutdowns across the world, people began to seek entertainment online. As a result, industries such as online casinos, cryptocurrency, and e-commerce have seen a massive increase in profits.
The online casino industry
It’s no secret that people love casinos and with the closure of land-based casinos due to the pandemic, the online casino industry has continued to grow in popularity.
To maximize their profits and ride the wave of popularity, many online casinos around the world have started offering their players an increasing number of benefits. For example, Indian casino Betway allows new Indian casino players to play the world’s first cricket roulette and welcomes them with exclusive Betway bonus codes in India.
During the pandemic, more and more people started looking for additional ways to generate income online and started paying attention to the ever-growing cryptocurrency industry. Although there are many risks associated with investing in cryptocurrency, this industry has seen a massive spike in interest in 2021. Cryptocurrencies have proven to be very resilient in the face of the economic crisis caused by the pandemic . Terms such as cryptocurrency, Bitcoin, Ethereum and NFT have been the hot topics of 2021. Although no one can predict Bitcoin’s next crash, the cryptocurrency industry is doing well and is expected to continue growing in coming years.
The e-commerce industry has seen an overwhelming increase in profits since the onset of COVID-19. Global lockdowns, shutdowns and social distancing have forced people to stay indoors and perform many of their usual activities online. As a result, online shopping has not only replaced going to a mall, but it has also proven to be one of the most popular forms of entertainment.
In 2021, small and medium e-commerce businesses have flourished. Still, e-commerce giants have noted dizzying increases in profits due to the pandemic. For example, Amazon’s market value increased by 73.6% between 2020 and 2021, reaching $1.634 billion.
What happens in 2022?
Although the worst days of the pandemic are already behind us, we still can’t be sure what’s to come in 2022. However, things are looking very good for all types of digital businesses, regardless of either the state of the pandemic. Industries such as online gaming, online casinos, cryptocurrency and e-commerce have proven extremely profitable even in the face of a global economic crisis such as that caused by the COVID-19 pandemic.