Online Gaming industry

Why Online Poker Won Big in 2021

Last year was another big year for online gaming. As more gamers increased their participation and developers released new titles, the global online gaming market generated almost $176 billion. By 2023, this value is expected to swell to a whopping $200 billion.

Among all the games that are part of this boom, online poker has perhaps helped build some of the biggest momentum. With an estimated 2,800 legally registered sites operating globally, the online poker’s sector was reported to have pulled in $73 billion in 2021 alone. As impressive as this figure is, evidence suggests that this will only grow larger in the coming years.

How Online Poker Gained the Upper Hand

The specific rationale why online poker’s popularity surged in 2021 varies depending on the region. However, there are two main reasons behind the general global boom. The first is that online poker had the benefit of a large native player base. Having been around for a long time, poker has the advantage of not having a steep learning curve. Online poker still uses the same basics.

Online gaming

This includes poker terms like bluff, ante, and fold, which helps players and dealers keep track of movements in-game. Aside from this, poker rules are also roughly the same. Players are still dealt the same number of cards, and the process of winning the pot remains the same. The only difference online poker has is that it’s done remotely via a virtual poker room and the funding is digital.

However, because online poker interfaces are designed to be intuitive, players can easily navigate virtual poker rooms. Aside from this, since poker sites accept payments from popular online payment platforms like Venmo, players can easily fund their bankroll with their existing e-wallets.

This leads us to the second main reason behind online poker’s success. As cryptocurrency effectively became the decade’s largest financial disruptor, more players and organizations are looking for ways to trade this asset. Many online poker sites have been able to leverage this interest by incorporating virtual currency into their operations.

Even before cryptocurrencies were considered valuable tokens, poker sites were already ahead of the curve and offering it as a jackpot. In 2019, a $1 million online poker pot even set a Guinness World Record. Starting in 2020, crypto poker has become a popular option with up to 95% of players now choosing to cash out in Bitcoin (BTC).

More recently, leading online poker sites have reportedly traded about $100 million worth of crypto. By embracing cryptocurrencies, online poker has effectively appealed to digital asset enthusiasts who want more means to earn coins.

Will Online Poker’s Popularity Fold Soon?

As physical poker rooms start to reopen, some speculate whether or not online poker will remain on top. In all fairness, this may re-divert some traffic back to brick and mortar poker establishments. However, given the accessibility and global reach that the online version offers, there is little cause for concern. What’s more, online poker has continued to make improvements that promise to keep players engaged. Poker VR has introduced not too long ago, and allegedly became Oculus’ highest-grossing free-to-play title. All in all, by cleverly marrying a beloved classic game with modern-day technology, online poker has set itself up with a winning hand.

Leave a Reply

Your email address will not be published.