Author: Ivan Mostovoy05 january 2023
This is a promising area that will only be strengthening its position in the global economy in 2023. The opinion is shared by the experts of Market Research Report, who in 2020 presented a comprehensive report on trends and prospects for the iGaming sphere.
According to the Market Research Report, the annual development rate of the business will be 11.4% at least until the end of the decade. In 2028, the capitalisation of internet wagering will probably reach $158.2 billion.
Online gambling is developing correspondingly with the global economy. Furthermore, it is almost 3 times higher in terms of growth (11.4% vs. 4% predicted by the World Bank).
The main reasons for the active development of the segment:
Wagering is a sector of the economy with many business areas. Entrepreneurs can open an online casino or a web poker platform, focus on mobile gambling apps or create a desktop product line.
Let us review the statistics of the iGaming industry:
The analysts of the Market Research Report predict that by the end of 2022, the internet sports betting sector will provide the greatest profit. Online wagering will generate $29.9 billion or 40.3% of the industry's total revenue.
The popularity of web betting is explained by:
The second most profitable iGaming sector is online casinos. Slot machines and live entertainment will bring in $24.9 billion in 2022, which will be 33.6% of the total industry capitalisation.
The most promising market is the Asia-Pacific region. Locals enjoy playing such live games as roulette, blackjack, baccarat, and Sic Bo. Good income will also be generated by slot machines that are in demand in all key markets — North America, the USA and Asia.
The third most popular gambling group is online lottery draws, which will bring in $11.2 billion, or 15.1%. Internet sweepstakes are allowed in many countries (for example, India and China) with an ambiguous attitude of the authorities toward wagering.
Bingo and virtual poker will generate $5.9 billion and $5.1 billion respectively. Their target audience is young people aged 18–34.
According to the Market Research Report, in 2022 the wagering revenue will be distributed as follows:
Mobile casinos are the leading sphere nowadays, offering punters a convenient and uninterrupted gaming experience from the comfort of their homes. The profitability of this wagering industry is influenced by the availability of smartphones. Such IT giants as Samsung, Apple, Huawei, and Xiaomi produce high-quality digital devices at affordable prices.
Wagering business on desktops is also providing high profitability. Half of the users prefer to spin slot reels on PCs. Gamers enjoy the large size of desktop screens, their excellent performance and increased storage capacity.
The use of modern IT solutions is one of the key indicators of the growth of the iGaming industry.
Analysts of the Market Research Report identify technological advances to be relevant in the next 5–7 years:
The immutable-net cryptographic system is used to:
Blockchain solves trust issues between users and the gambling site.
The technology stores all records of operations such as credited funds, passed rounds, and paid bonuses. Punters can access the transaction history and verify the solvency of the entrepreneur
Machine learning algorithms are used for:
AI makes casino sites more secure by identifying wagering abusers.
One of the recent developments is the internet platform by the independent organisation BetBuddy Limited. This AI-powered casino software tracks problem gamblers by analysing linked accounts
VR & AR
The use of virtual and augmented reality helps:
The Win Win company recommends the following modern gambling projects:
The gaming platform is presented as a multitasking chatbot. The assistant works in the Telegram social messenger and then redirects the target audience to the wagering site.
The main reasons to buy a Telegram casino:
It is a modern gambling platform with HTML5 games and a responsive interface design.
The main reasons to order a cellular solution from the Win Win Casino provider are:
This entertainment serves as a kind of replacement for a terrestrial gaming room. Punters can follow the actions of the dealer in real-time, interact with other casino users, and receive a decent reward for playing.
The top reasons to open a live casino are:
In 2021, many countries legalised online wagering. It is more profitable for local governments to establish transparent rules for the market than to fight illegal bets, money laundering and growing gambling addiction.
According to forecasts, Europe will show the highest profitability in the iGaming sector — $30.9 billion or 41.6% of the total industry income in 2023.
The key growth indicators for the European wagering segment are:
North America and Asia will also show growth in profitability. The income of operators from the USA and Canada is associated with sports betting, while live dealer entertainment prevails in Asian countries.
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