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Trends of Gambling Business in 2024

Summary of 2022: Numbers
Last year’s development in the gambling industry could be characterised by the emergence of new technologies.
There were a few important milestones:
the official independent Curacao gambling regulator has started its work;
Canadians have expanded the iGaming sector by having it legalised in Ontario;
new requirements for social responsibility were announced.
According to the Rich Ads web resource, in 2022, the market volume reached $63.5 billion. In 2023, according to experts, the total value of the industry will be $153.4 billion.
Such rapid growth (by almost 2.5 times) is explained by:
  • the emergence of affordable mobile entertainment;
  • accident-free game from anywhere in the world;
  • growth of the incomes of the population;
  • active legalisation of gambling.

Every successful operator’s task is to be attentive towards the current industry trends and consider customer preferences. Tendencies are born from the desires of individual players. Entrepreneurs should recognise these needs and work towards incorporating the requests into their products.

Gambling business trends in 2023

Rosloto will elaborate on the most recent movements in the gambling market. Our experts can also help you with opening a profitable iGaming project and purchasing top software.

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Summary of 2022: Numbers

Last year’s developments in the gambling industry could be characterised by a lot of new technologies. The field has accumulated 58.2 billion USD throughout the year and is expected to earn 145.6 billion USD by 2030.

There were a few important milestones:

  • Canadians have expanded the lucrative sector by having iGaming business legalised in Ontario;
  • the official independent Curacao gaming regulator has started its work;
  • new requirements for social responsibility were announced.

All of this has greatly influenced the trends of 2024. We can look closer at them further.

Operations

Here are some tendencies that distributors will tend to follow in terms of procedures:

Making Decisions Driven by Data

Upon joining the gaming industry, a lot of operators use ready-made products for their activities. This way, the freshly created companies can save time and effort and immediately establish themselves on the market.

Nonetheless, gathering the data and analysing it will tell operators a lot about behaviour patterns that gamblers follow.

This can be information about:

  • age;
  • location;
  • specific preferences.

Spending some resources on examining player data will build a trustworthy relationship with the client base. The operator will be aware of all the necessary statistics to create quality products adjusted to the public’s needs. This, in turn, increases the lifetime value of the customers.

Higher Cost of Ads

Advertisement prices have gone up, so distributors focus more on their quality than the actual amount of banners. A large number of ads could oversaturate customers and scare them away.

Companies try to lure players in by upping their game in terms of promoting content. For instance, ads are becoming more dynamic and come in many different forms.

Brand Ambassadors

Operators tend to collaborate with famous people so that punters’ trust in their product would increase. It can be:

  • celebrities;
  • famous athletes;
  • social media influencers.

The reputation of the company and its online standings will also be boosted, as famous people usually work with reliable enterprises. A lot of new customers who are fans of these particular celebrities would become permanent clients of the business.

One of the examples of such collaboration is Playtech working together with Roberto Carlos, a famous footballer, by getting him to endorse their fresh game.

Retention Practices

The strategy of attracting new players is key to every business's success. Operators need to do everything to make customers stay on the site and come back again, instead of leaving to join the competitor’s platform.

It is important to focus on the individual lifetime value of clients. Many distributors place their main emphasis on a personal approach, which includes having to learn the private data and history of the users to make the strategy more effective.

Engagement Rates

Many business giants are now changing the way they do things by putting long-term collaboration with customers first. Fulfilling their needs will be beneficial for the distributor in terms of reaching financial goals.

This involves multiple aspects of the business:

  • boosting recognition of the brand;
  • gaining player loyalty;
  • attracting the audience;
  • working on customer retention.

Players are the main force in the industry, which is why an important task for the company is to show them appreciation. For instance, developing a massive portfolio with diverse games is one thing that would most likely broaden the audience and make clients feel valued.

Player Behaviour

Casino player behaviour: changes in 2023

Customers are the heart of every casino business, which is why trends related to them are a separate topic.

Client-Centric Approach

Often, punters are not exactly looking for a unique casino platform, as there are plenty to choose from. The most important factor for the users is getting an amazing experience, and for this, every company has to work harder to show they cherish players.

All the stages of this approach, from sending customers a welcome bonus to urging them to return to the site, are important to work on and improve. Clients like to feel appreciated and listened to, and their satisfaction will greatly increase lifetime value.

Personalisation is important when it comes to building a brand. Quite often, even when players leave, the company can make them come back by a few improvements and taking the feedback into account.

Gambling on Mobile Devices

Customers like flexible choices, which are easily accessible from every device. This is important for betting sites in particular because matches are played at all times of the day, and sometimes people have no immediate access to computers.

Every respectable operator should create a mobile version of their site for user convenience. It is a great decision for those who want to enter new markets and appeal to local customers.

Smartwatch betting is also becoming significantly popular, as many people are seeking compact ways to wager. Operators who are familiar with all the latest trends are optimising their platforms for all devices.

eSports and Betting Streaming

Cyber matches are a popular and relatively recent way of having fun for young players. Punters from multiple countries, especially Asian ones, are enjoying this exciting type of entertainment.

Usually, people who like to bet on traditional sports prefer to watch streams so they can feel the energy in real-time. The live event also significantly influences the nature of the bets. A lot of wagers are specifically placed simultaneously with the stream.

The main factors for a successful live demonstration of the match are:

  • quality visuals;
  • the diversity of games;
  • broadcasting without tech malfunctions.

Live Casinos

This type of gambling has become prominent lately, especially among people who prefer to pay with cryptocurrency.

The statistics also show that many popular games of the former year were live content.

Payments and Licensing

Performing transactions and obtaining a permit is an important business aspect that directly influences the income and distributor’s work.

Multiple Deposit Options

A respectable operator should offer a lot of accessible ways of carrying out financial procedures if they want to retain customers. Basic payment methods are not always enough.

The most successful casino platforms have a multitude of opportunities to make a transaction and withdraw money. It has become a necessary aspect for keeping customers drawn to a casino, as cash-related procedures are a significant factor for them.

Digital Currency

An important factor in a gaming site’s success is whether it is crypto-friendly. Distributors have a solid chance to broaden their audience as they reach out to those who prefer digital money operations.

A lot of country governments are making significant steps on a way to legalise cryptocurrency. In particular, Bitcoins are a popular form of running financial operations.

Local Regulators

Many jurisdictions are developing individual overseeing services for their territories. This is done for better market control and to boost profits.

Gambling is accessible due to the quality work of regulators. Customers feel safer with the platform when it is monitored by trustworthy organisations.

Gamification

Gamification principles in 2023

Operators add new entertainment features and products to create an unforgettable experience for players.

Hybrid Casinos

The metaverse is a breakthrough tendency that is predicted to become even more prominent as time goes by. Even Facebook has changed its name to Meta to keep up with the trends.

The virtual worlds consist of:

  • AR/VR innovations;
  • Blockchain;
  • exclusive gaming offerings.

The activities one could engage in are incredibly immersive and take gambling to an entirely new level.

Some advantages to developing this type of casino are:

Exclusive portfolio

The metaverse brings a lot of surprises even to those customers that have seen it all.

There are incredible visuals and exciting stories that make even the most basic content develop some freshness

Transaction system enhancements

Cryptocurrency is predicted to become an official way to pay in the casino world.

It is a new challenge for distributors to create a comfortable system for everyone

Posture health

Unlike sitting in front of the computer in the same pose while playing regular games, the metaverse users are encouraged to move around.

Punters can be physically active during their interactions with the universe

Jackpots, Promotions and Bonuses

They have advanced to a whole new level. These features exist to motivate customers to play more. Operators can benefit from jackpots by launching effective promotions and encouraging their audience to develop strategies for gaining big wins.

Preserving customer loyalty is a challenge for every distributor, and giving players extra perks can help with this. There can be different types of these, from welcome bonuses to awards for sticking with the casino and being active.

Recently, the promotions have also started performing functions of game regulation. For instance, an operator can offer compensation to those who spend a lot of money in one go.

Customers are constantly searching for outstanding promo campaigns, and often, generous bonuses are enough to convince them to permanently join the platform. Additionally, there are plenty of special events, like tournaments, that make the players’ pastimes more exciting and fulfilling.

Security

The aspect of keeping gamblers safe is greatly important for the successful run of any casino business.

Responsible Gaming

Due to the efforts of regulatory authorities, online spaces are becoming safer for customers, and the number of problematic punters is getting smaller.

Some groups of clients are still at risk, and operators need to identify and eliminate all the threats.

Protection of Data

Customers need to feel safe and make sure that their data is not passed to any third parties.

A few factors are crucial here:

Transparency

Clients want to be aware of what information specifics the online establishment is collecting. They should know in which ways it will be utilised and who it will be shared with.

Operators are supposed to express all of this in a clear way

User rights

People want to be more in charge of what personal information goes on the Internet and who can access it.

The tendency of mindfully sharing data will become more intense with time

Legislative system

Many fraudsters are finding different ways to surpass the laws and make it seem like they are legitimately performing criminal activities.

This means regulations should be very concise and direct

No-Verification Sites

Casinos that do not require user identification may become a hit since players would find it easier to register quickly and immediately start wagering.

However, even though it seems beneficial in terms of driving a new audience to the casino, this approach is not sustainable. Establishments that do not ask players to verify their identity are not able to get officially licensed yet. For now, this poses a lot of risks and threats to the operator’s market standing in the long run.

Anti-Fraud Systems

Hacker attacks and other types of illegal activities are common for casino sites. They are more vulnerable to such risks when there is no multi-step player identification. The individual actions of every customer should be examined closer to pinpoint any possible cheaters.

Operators need to obtain powerful tools that can analyse all the information about the client’s activity and gaming patterns. If there are any inconsistencies, the punter may be asked to provide extra documents to prove their fair intentions.

The most widespread type of fraud in casinos is bonus systems abuse. Some other ones are:

  • money laundering;
  • chargeback;
  • opposite betting;
  • payment system fraud, etc.

The Main Things about the iGaming Industry Trends

iGaming business trends in 2023

Tendencies in the gambling field are continuously changing, and it is of high importance for operators to keep up with them.

To get a better understanding of the current business climate, pay attention to the following categories of trends:

  • operations;
  • player behaviour;
  • payments and licensing;
  • gamification;
  • security.

Rosloto has extensive experience in helping entrepreneurs start their businesses. We guarantee the safety and reliability of our services.

At our company, you can get access to a range of solutions:

Our customers receive expert assistance in every aspect of starting a gaming business from the best professionals. Contact the company’s managers to start productive and fruitful cooperation.

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Clara Hazel
Author: Clara Hazel
iGaming business expert
Updated 06.02.2023
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