The digital age has transformed the gambling industry with iGaming, which is an economic powerhouse. The iGaming industry has opened up a huge market for unparalleled growth opportunities because of the value it offers.
Undoubtedly, iGaming has revolutionised the way players across the globe participate in their favourite gambling activities. In this article, we will be discussing some of the trends that are shaping the iGaming industry globally.
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Trends shaping the iGaming industry globally
With the cutting-edge technological advancement in the iGaming industry, we can find the best casinos in every country offering immersive experiences and enhanced functionalities. And in the next few years, the iGaming industry will be the dominant genre globally. While these statements may sound very bold, these trends will help put into perspective the level at which the iGaming industry has advanced.
- Blockchain-based gaming
The iGaming market for cryptocurrency is about $100 billion, which is largely due to the innovation of the cryptocurrency industry. One of the major advantages that makes the use of cryptocurrency so appealing to many iGaming players is the convenience and speed of the technology. Players get to pay a lower amount in transaction fees when they choose to use cryptocurrency, and the transaction speed is lightning fast. As a result, it allows gamblers to save money while enhancing their gambling experience.
Furthermore, there’s an exponential growth in the number of crypto users globally, which further fosters the adoption of the technology. With more adopters of cryptocurrency, companies can tap into the extensive global client base, thereby expanding their accessibility and reaching customers in diverse regions. In other words, cryptocurrency helps to overcome the hurdles of traditional payment options. Also, cryptocurrency provides users with an added layer of privacy and anonymity. Essentially, leveraging blockchain technology is a great way for players to alleviate their experience.
- Augmented and virtual reality
One of the major trends shaping the iGaming industry is the introduction of virtual reality and augmented reality. When it was initially introduced, this technology seemed very promising. As of 2021, the market value for AR and VR was $12.45 billion, and by 2024, it had risen to $21.03 billion. The reason for the surge in the market value of AR and VR is that the technology elevates players’ engagement levels.
AR and VR turn the gaming settings for players into an interactive and dynamic arena. It engages all players’ senses, fuels their imagination, and entices them. Furthermore, VR creates an immersive and interactive journey for players, which enables them to craft their own customised 3D virtual avatars. With all these, there’s no doubt that the gaming industry stands to gain significantly from the adoption of AR and VR technology.
- Artificial intelligence and machine learning in iGaming
Artificial intelligence and machine learning have become a trend that has significantly contributed to the advancement of the iGaming industry globally, particularly in the social gaming aspect. The iGaming industry was quick to realise the potential AI has in the industry, which led to its quick adoption in diverse areas of the sector such as design, marketing, tailored player experience, and so on.
Today, on many iGaming platforms, elements like chatbots and virtual assistants are technologies powered by AI and ML. Furthermore, these platforms are able to incorporate AI to encourage responsible gambling. For instance, iGaming operators can use AI and ML to monitor player behaviour, alert potential problematic gambling behaviour, and enforce self-exclusion policies.
- Mobile gaming
Another reason the iGaming industry has been booming globally is that it’s now available on mobile devices. Gambling is now more accessible to players because it is no longer confined to gaming on a desktop or a laptop. So, players can play their favourite gambling activity on the go.
As part of pushing the mobile gaming campaign, many online gambling operators now have mobile applications players can download on their smartphones. Furthermore, most operators made their platform mobile-compatible, making it accessible to players via their web browser. So, in cases where players don’t want to download the mobile application on their smartphone, they can rely on the web version and still get the full gambling experience.
- Web real-time communication (WebRTC)
In addition to making gambling platforms mobile-friendly, operators further incorporated a web-based real-time communication technology that enables users to communicate with the platform in real-time audio and video.
WebRTC revolutionised users’ experiences by adding voice and video options to existing gaming platforms. The WebRTC also enables peer-to-peer multiplayer, which further alleviates players’ experiences.
