iGaming, the name given to the companies that offer casino games, sports betting, poker, lotteries, bingo, and scratch cards over the internet, is a thriving industry. The biggest companies in the market are worth billions and operate in dozens of countries around the world.
The industry has come a long way in recent decades, but a lot is set to change in the coming years too. So what can we expect from the iGaming industry in the future?
iGaming is an industry that thrives in environments where technological and legal factors are aligned with each other. Poor internet penetration rates or slow connections mean that legalised online wagering won’t be able to take hold. Similarly, fast internet connections that are almost universally adopted aren’t enough if iGaming companies aren’t allowed to operate.
Therefore, the iGaming industry can only move into new markets when these two criteria are satisfied.
While there are already plenty of markets where online betting of all kinds is thriving, there are many more that are yet to have the right conditions or are in the process of getting there.
In the future, we’re likely to see the list growing. The United States is a great example of this as around 15 states currently permit online betting of some sorts, but more are expected to join in the coming years.
The iGaming industry is still relatively young, with the first online casinos opening their virtual doors in the late 1990s. There is, therefore, a lot of room for growth, especially in markets like the United States where states are still legalising online wagering.
As is the case in most industries where there is a lot of prospect for growth, new entrants will continue to enter the market. In the UK alone, there are more than 100 remote gaming licenses issued to companies and many more in other nations.
With so much competition, casino bonuses, like the ones compared by oddschecker, will continue to feature heavily in the marketing strategies of iGaming companies.
The iGaming industry has always embraced new technologies. After all, it wouldn’t exist without the internet. Companies have adapted quickly as innovations like smartphones and tablets have hit the market, creating apps and offering live casino games.
This approach is ingrained in the industry’s culture; that’s why many companies have been experimenting with virtual and augmented reality.
The low latency qualities of 5G is likely something that iGaming brands will begin to embrace in the future, using this to offer their customers new ways to play.
Overall, iGaming is a sector that will continue to grow, innovate and thrive. The end result of this will be more customers and improved financial performance.