The iGaming industry is growing at hyper-speed. Worth about $64 billion two years ago, the global market is expected to gross $98 billion this year. This growth indicates a rapidly evolving landscape, with technological changes, innovation, operation, and regulation changes. Here is a look at the top trends changing and pushing growth in the industry in 2024:
Mobile Gaming’s Continued Dominance
Mobile gaming continues to dominate the iGaming industry. In 2024, developers are directing more resources at increasing loading times, creating responsive designs, and improving navigation. Operators like Betway are optimizing their mobile apps to offer more accessibility and convenience and allow bettors to play on the go. The impact is evident in mobile gaming’s 90-percent market share.
Expansion into New Markets
Online gambling’s user base is also growing. As more countries legalize online gambling and internet infiltration grows, operators are expanding into previously untapped markets in Asia, South America, and Africa. Betway is a prime example of this. Founded in 2006, the operator has entered new markets recently, including setting up the Betway casino Zambia branch in 2018. This trend is expected to see the industry generate even more revenue.
Mainstream Adoption of AR and VR Gaming
As more people discover online gambling, operators are facing increasing pressure to diversify their offerings. Players want new and exciting ways to play their favorite casino games, which is where AR and VR come in. Although not new to the industry, AR and VR gaming have yet to receive mainstream adoption. In 2024, developers are working to deliver these technologies to a broader player base for cheaper than is currently possible. This could be even easier with the Metaverse and the possibility of virtual worlds gaining more mainstream acceptance.
AI Integration for Increased Cybersecurity
None of all AI applications in the iGaming industry will be as crucial in 2024 as security and fraud detection. Revenue growth in online gambling continues to attract cybercriminals. Operators are turning to AI and ML technology to protect their customers and strengthen their cybersecurity systems.
AI powers two-factor authentication, and its algorithms can be trained to flag suspicious login attempts. While integration remains out of reach for small operators, cyber experts are working on more accessible security solutions to ensure players like you stay safe online regardless of where you play.
Increased Regulation on Responsible Gambling
Also, to protect players, governments and regulatory bodies are beefing up regulatory policies around online gambling. Playing online casino games and betting on sports is an exciting pastime. However, for some players, access to these services increases their risk of addiction to gambling. Regulatory bodies in 2024 are focusing a lot of effort into ensuring operators provide resources to help affected players address this issue, including self-exclusion options and betting limits.
Online Casinos Are Not Slowing Down
Between 2021 and 2022, the number of people who play casino games or bet on sports online grew by 15.8 percent. In 2024, the sustained growth is driven by technological advancements, changing regulations, and expanding markets. The industry is set to continue expanding revenue and reach as online gambling becomes more convenient and accessible to players across the globe.
I and my team research various ad networks and can help you increase your overall ad revenue; so you could rake in more greenbacks with the best monetization platforms. Tap into the power of the online publishing business with me. I am just a mail away, so reach out to me if you want to scale up your website revenue. mail: [email protected]