Staying in the loop with online casinos can be a hassle. We've scoped out the key trends shaping the iGaming world to save you the trouble. From the rise of mobile gambling to the integration of cryptocurrencies, these six trends, in the option of our experts, are set to redefine how we play and bet online.
Trends that are transforming iGaming in 2024
No Surprises Here: Mobile Gambling Dominance
People enjoy gambling from the couch. The dominance of mobile gambling in the online casino industry is unmistakable and growing stronger. By 2024, mobile gaming had already eclipsed desktop platforms, commanding an estimated 90-95% share. This trend shows no signs of slowing down as smartphone technology advancements enhance the gaming experience.
Several factors contribute to the rising preference for mobile gambling. The convenience and accessibility of being able to play from anywhere with an internet connection are paramount. Modern mobile devices' enhanced graphics and touchscreen capabilities offer an immersive gaming experience that rivals traditional desktop setups. Additionally, the industry’s focus on mobile optimization—with game developers prioritizing responsive design, fast loading times, and intuitive navigation—has made mobile gaming more appealing than ever.
Sergey Ghazaryan, Head of the Casino Unit
Live Casino Games Surge
Live dealer games give you a taste of the classic casino vibe right from your own home. Titles like live blackjack, roulette, baccarat, and poker are increasingly popular thanks to significant live-streaming and interactive technology advancements. Currently, live casino games constitute about 30% of all online casino gameplay, a number that is steadily climbing. Industry leaders like Evolution Gaming are at the forefront, delivering high-quality live dealer experiences that draw players seeking an authentic casino ambiance.
The surge in live casino game popularity can be attributed to several factors. Technological advancements like high-definition streaming of professional dealers create a highly immersive experience. The variety of live casino offerings has expanded, moving beyond traditional games to include innovative game shows and localized experiences. Mobile compatibility further broadens the appeal, allowing players to enjoy live dealer games on the go.
Live casino games have limitations that force operators to meet specific technical requirements. For example, they require strong technological solutions and high internet bandwidth for live streaming.
Sergey Ghazaryan, Head of the Casino Unit
Still, looking ahead, the future of live casino games looks promising. As technology improves and internet access expands globally, live dealer games will likely attract an even larger audience, securing their place in online gambling with their immersive and social aspects.
Still on Air: VR and AR
Virtual reality (VR) and augmented reality (AR) technologies are still new in the online casino industry, but they have the potential to change how players experience online gambling. Imagine being in a virtual casino where you can walk around, interact with slot machines, or play poker at a virtual table. These immersive experiences could completely change online gambling. Currently, Asian online gambling platforms are leading the way by testing VR casinos, which could become the standard in the industry.
Even though VR and AR haven’t been widely adopted yet, they still have the potential to become the next big thing in iGaming. While current data shows these technologies aren’t widespread, their potential is still significant. As the industry grows, incorporating VR and AR could offer the immersive and engaging experiences many players seek, creating a new era in online gambling.
Sergey Ghazaryan, Head of the Casino Unit
🔥 Hot Topic: AI and Machine Learning Integration
Artificial intelligence, once the stuff of science fiction, is now a pivotal force in online gambling. AI and machine learning are revolutionizing the industry by analyzing player behavior, detecting fraud, and personalizing marketing efforts. GR8 Tech experts say AI and ML are poised to be the primary technological drivers of change in iGaming. GR8 Tech is already harnessing AI-driven chatbots for customer support and employing machine learning algorithms to enhance the overall user experience.
AI has become a big part of iGaming and is being used more and more each day. It's already widely used to personalize player experiences, improve responsible gambling measures, and spot fraud.
Sergey Ghazaryan, Head of the Casino Unit
How GR8 Tech uses AI against fraud
The future potential of AI in iGaming is vast. AI chatbots can offer round-the-clock support, providing personalized assistance and valuable data for player retention. Machine learning models can optimize bonus campaigns, tailoring offers to specific player segments to boost profits. Personalized recommendations based on AI can significantly enhance player engagement by customizing suggestions according to individual preferences. In-game development, large language models (LLMs) can analyze player feedback and gameplay data to refine and improve gaming experiences. Additionally, in the realm of esports betting, AI is crucial for analyzing real-time match data and setting accurate odds.
Integrating AI comes with its own set of challenges. The expenses involved in developing and implementing AI solutions can be quite high, especially for smaller businesses. Having the expertise to build and manage AI systems is crucial, considering that large language models can sometimes produce inaccurate responses, known as “hallucinations.” Despite these challenges, AI and machine learning have a major impact on online gambling, significantly influencing its future.
Raid Arfua, Head of Artificial Intelligence
Global Expansion Opportunities
As more countries legalize online gambling, operators face a golden opportunity to tap into new markets. With more people using the internet and a growing middle class looking for online gambling, regions like Asia and South America are up-and-coming. Latin America, for example, is the fourth-largest regional online market in the world, with about 68.8% of its population now online.
Brazil and India, for instance, are witnessing significant growth in online gambling participation, presenting a vast potential customer base for operators adept at navigating local regulatory landscapes.
While global expansion is underway, it has yet to reach a dominant stage. Nonetheless, many operators actively seek to expand into new markets given the increasing use of mobile devices for online gambling, which is another significant driver of market growth, especially with enhanced features like loyalty points and multiplayer gaming options.
Sergey Ghazaryan, Head of the Casino Unit
Understanding and catering to regional preferences is crucial for attracting new players; football betting, for example, is popular in African countries, while culturally resonant games are favored by Asian players.
The gradual legalization of online gambling in various countries is creating new markets and opportunities for expansion. However, navigating the complexities of licensing and compliance remains essential. The iGaming landscape is complex and constantly evolving, and unique regulatory frameworks in different countries make the legal navigation process challenging.
Cryptocurrency Integration
Cryptocurrency and online gambling have formed a strong and evolving relationship, significantly influencing the iGaming sector. The first nine months of 2023 saw an 18.7% increase in the value of crypto bets, highlighting this trend. Among cryptocurrencies, Bitcoin remains the preferred choice, accounting for 74.9% of bets, with Ethereum and Litecoin following at 8.9% and 6.0%, respectively.
This surge is partly driven by platforms that integrate features like in-game currency conversion, enhancing the gaming experience for crypto users by ensuring seamless and secure transactions.
The synergy between cryptocurrency and iGaming has been developing for over a decade, but despite the rise in crypto bets, cryptocurrencies have yet to dominate the online casino landscape. However, several factors continue to fuel this integration. We already mentioned the in-game currency conversion feature that allows players to use cryptocurrencies for any game, irrespective of its native fiat currency. Additionally, the anonymity and lower transaction fees offered by cryptocurrencies appeal to a growing segment of players seeking secure and diverse payment options.
Analyzing the data reveals that while the volume of cryptocurrency bets surged by 66.4% in the first nine months of 2023 compared to the previous year, their share in the total betting sum slightly dipped to 28.5%. This decline is attributed to the significant growth in fiat currency bets since early 2022.
This ongoing trend underscores the importance of cryptocurrencies in the iGaming industry, which is driven by technological advancements and changing player preferences.
Overall, the iGaming industry is witnessing a steady rise in cryptocurrency integration. Although not yet dominant, the trend is expected to continue as digital currencies gain wider acceptance and operators further enhance crypto gaming experiences.
Sergey Ghazaryan, Head of the Casino Unit
Hi, I'm interested in the 30% figure that Live Dealer makes up of Online Casino as a total. Is there any more info as to where this figure comes from?
While specific regional data for live casino game revenue as a percentage of total online casino revenue can vary and may not be publicly detailed, it is generally observed that mature and well-regulated markets, particularly in Europe, have shown a strong affinity for live casino games.
Colleagues from gammastack shared the study data in their publication: Top Live Dealer Casino Software Providers in 2023
WORLDMETRICS.ORG REPORT 2024 also confirms that Up to 30% of online gamblers prefer live dealer games over traditional online casino games.