Relevant Directions in the Gambling Niche in 2024: Trends and Prospects
The Rosloto studio will describe the latest trends in the casino market. We will also tell you about the forecasts of the leading analytical publications, the main IT innovations, and the types of entertainment content that are in demand.
The Rapid Growth of the iGaming Industry in 2024
The RichAds web portal reports that in 2022, the online gambling market was estimated at $63.5 billion. According to analysts, in 2028, its capitalisation will increase by almost 2.5 times and reach $153.6 billion.
In 2 years (from 2021 to 2023), the number of virtual casinos increased by 20%, which was facilitated by:
- simplification of business licensing;
- opening of many new countries for investment;
- growing interest in gaming as a form of entertainment.
According to the Gambling.net online publication, about 85% of adult Americans have placed bets on a gaming site at least once in their lives. 26% of the world's inhabitants visit gambling resources once a week. The leader in the number of wagers is Australia. Every second resident of this country makes bids, despite the fact the legislation in each state is different.
The ResearchAndMarkets.com analytical centre predicts that until 2027, the global iGaming market will increase by 9.3% every year. And in 4 years, its capitalisation will reach $125.6 billion. The industry is going to take a leading position in terms of growth rate along with the financial, biotechnology, information, and pharmaceutical sectors.
Key indicators of capitalisation of the niche:
- distribution of smartphones with improved Internet access;
- legalisation of gambling in many countries;
- introduction of IT innovations;
- release of new types of games;
- raising incomes, etc.
According to forecasts, the largest increase is expected in the Asia-Pacific region (37%). There are territories where casino entertainment is legal (for example, Australia or the Philippines) but in some jurisdictions, it is strictly prohibited in any format. We are talking about Malaysia, Pakistan, and other Muslim countries.
About 32% of worldwide income will be accounted for by Europe. Malta is considered a leader in the number of registered iGaming companies. It is famous for its loyal legislation, quick issuance of licences, and low taxes.
Entrepreneurs can also open online casinos in Germany, Denmark, Sweden, Latvia, Lithuania, and other regions where gambling is legalised.
Key Trends in 2024
Let us consider the innovations that will contribute to the growth of the industry in the coming months:
Change in the Payment Ecosystem
In 2024, there will be 3 main tendencies:
| Rise in the percentage of blockchain transactions | Cryptocurrency is becoming mainstream in the web gaming sector. Today, more payments are made in digital money. The list of advantages of such a technology includes:
It is becoming easier for cryptocurrencies to enter new markets thanks to transparent regulation in the world’s leading jurisdictions. The use of digital assets is approved in the UK, Germany, France, Lithuania, Estonia, Malta, and other EU countries. The collapse of the FTX international exchange in the fall of 2022 only partially affected the spread of cryptocurrency. Entrepreneurs now prefer to keep their savings in different digital assets (BTC, LTC, TRN, and others) rather than relying only on Bitcoin. However, 45% of transfers in the gambling industry are accounted for by BTC settlements |
| Reduction in the number of cash transfers | Replenishment of the user account with the help of land-based terminals and betting machines is used less and less. Many people consider it inconvenient, referring to high commission fees and long crediting of funds. Analysts predict that the share of cash payments will continue to decline. This niche will be replaced by electronic transfers in fiat or e-money |
| Widespread use of bank cards | Transactions carried out via the Visa and MasterCard international systems have been staying in the leading position for several years in a row. The advantage of the settlement method is that it is understandable to a wide range of customers. To make a deposit, it is enough to enter the bank card details and confirm the payment by SMS or voice call. Funds are instantly credited to the user. Players have access to direct bank transfers and Internet acquisition. The second option is preferable since it often involves opening a payment form with the recipient's details that are already filled in |
Attraction of Digital Natives
“Children of the digital age” prefer fast and comfortable games that can be launched from anywhere in the world. They are actively using mobile casinos with seamless access from smartphones or Apple gadgets.
Such projects remain the most attractive ones among investors. Among their key benefits, we can name:
- Easy interaction with Digital Natives. This is achieved through SMM (Social Media Manager) — a tool for attracting an audience from social networks. Mobile casinos are an interesting gaming format for players. It is much more convenient for them to make deposits, participate in tournaments, and share the results of draws in instant messengers.
- Access to innovative features. The presence of smartphones simplifies the biometric verification of customers. The use of gadgets speeds up transactions. Multiplayer games, chats, an opportunity to send screenshots, and other functions are available on mobile gambling sites.
Increase Interest in Betting in the Stream Mode
Wagering in this format is suitable for bookmakers and platforms that offer live roulette, poker, blackjack, etc. The main condition is long-term access. A football match, for example, lasts 1 hour 45 minutes.
An eSports competition takes 15–20 minutes and a live baccarat hand — only 3–4 minutes. During this time, a streamer places 1 or more bets, and gamblers follow his progress.
High rollers are often invited to play the role of streamers. These are top casino visitors with impressive track records. They are well-versed in different disciplines or eSports and card strategies.
Advantages of the format:
- It is very interesting and exciting to watch the actions of streamers. This option attracts new solvent traffic to the website.
- To accept bets in the Stream mode, operators need to integrate special software. The most famous program for working with the audience during live broadcasts is Stream Avatars.
- Microsoft developed the Azure Stream Analytics service. This is an event processing subsystem that helps to analyse data from such platforms and generate detailed reports on the key demands.
Renewal of the Concept of Playing with Live Dealers
In 2024, many owners of offline casinos will try to fully or partially transfer their business to the Internet environment. The most obvious option is to launch a gambling platform with live dealers.
Almost all large establishments of this type already have several halls with croupiers. The premises are equipped with the latest technology: there are modern HD cameras, card readers, and tables for games, such as poker, blackjack, etc.. Broadcasts are conducted 24/7: dealers may change but the image quality remains at the highest level.
The decision to launch a live casino is a great chance to attract new solvent traffic without losing regular customers. There are also excellent conditions for branding individual elements of games: chips, tables, cards, and the dealers' clothes.
Live entertainment is considered the most popular in Europe. Here, the leaders in terms of Internet traffic and profits are the UK, Sweden, Latvia, Lithuania, and Estonia. In developing markets (Africa, Asia, and Latin America), live content also finds a huge response from the audience.
Popularity of IT Solutions
Gambling is a high-tech industry where the following innovations are introduced:
- Artificial intelligence. Machine learning algorithms process terabytes of information to offer operators and their clients the most profitable solutions based on it. AI does not just collect data, it also analyses it. AI and instant messengers (Telegram, Viber, and VKontakte) are used to launch modern casinos in the form of chatbots. The solution is also part of the IoT concept.
- Blockchain. Ready-made iGaming platforms are not only using cryptocurrency as a settlement method but are also created on the basis of DLT. The advantages of the product are the completely independent operation of the RNG, the guarantee of the payment of prize money, and the increased security of funds, which makes the blockchain casino attractive for both entrepreneurs and gamblers.
- VR. Virtual reality and special headsets have gained huge popularity in recent years. They are a revolutionary addition to the iGaming world. Among the top solutions that support the VR function are Slots Million, Casino VR Poker, and The Gear. The headset (glasses, helmets, and accessories) can be ordered from Google, Oculus, Sony, and other companies.
Development of Innovative Content
Players are a little tired of traditional 5-reel slots (although they still have a lot of fans).
The classic digital reels are being replaced by entertainment with original gameplay and non-standard graphics:
- Cluster slots. The products are distinguished by a panel of atypical sizes: there are 6x6 or 8x8 square shapes, as well as the chaotic placement of cells. Winning combinations are created in the form of clusters or broken lines. Users are also attracted by good bonuses.
- NFT games. The content contains non-fungible tokens, the value of which is constantly increasing. These are interesting characters and artefacts, as well as elements of the interface, gifts, special features, and much more. Externally, an NFT slot is not much different from a traditional product but the opportunity to own a profitable asset attracts a large audience.
- Crash games. Such solutions are built based on the blockchain. They are characterised by a multiplayer mode, acceptance of cryptocurrency bets, as well as the instant determination of the winner, and payment of prize money. In 1 round, an unlimited number of players can take part.
The Main Things about the Gambling Trends of 2024
The industry is quite promising nowadays, and the decision to launch an iGaming startup will be a profitable investment.
- In the next 5 years, analysts predict the rapid growth of the niche. This is facilitated by the general digitalisation of the economy, increasing incomes of the population, the introduction of IT innovations, and the legalisation of casino entertainment in many countries.
- Among the main trends of 2024, there are changes in the payments ecosystem in favour of digital assets, renewal of the concept of playing with live dealers, increased interest in wagering in the Stream mode, the attraction of the Digital Natives generation, and much more.
- IT innovations that will be relevant for gambling are artificial intelligence, blockchain, and virtual reality.
- Operators should pay attention to the quality and variety of products offered on their gaming sites. The leaders in terms of the number of requests from the audience are cluster and NFT slots and crash games.
The Rosloto studio can help you implement an exclusive digital gambling project of any type. We also offer:
- turnkey online casinos;
- White Label platforms;
- Bitcoin resources;
- portals with VR slots;
- Telegram casinos, and other profitable solutions.
For all questions, please contact our managers.
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