The pandemic heightened interest in the fast-growing world of iGaming, providing motivation — and a challenge — for operators, whose swelling audiences need ever more creative titles. Maria Baranova, team leader of partner relations managers at Slotegrator, analyzes the current iGaming market, identifies several trends for 2023, and shares her iGaming forecasts for the upcoming year.
The online gambling market is growing extremely fast; according to expert estimates, it was valued at $93 billion by the end of 2021, a growth of 65% compared to 2019. By 2025, analysts predict that the global online gambling market will be worth $113.12 billion. The sports betting sector is estimated to be worth $72 billion in 2021 and is projected to grow to $140 billion by 2028, a growth rate of more than 10%. All in all, this points to strong, sustained growth for the foreseeable future. Let’s move from general trends to specific ones.
Live dealer games
- Customization. Personalization options allow operators to recreate the atmosphere of their favorite casino in the digital space. Branded tables heighten the playing experience and help with brand awareness. Taking inspiration from popular games and TV shows will also continue to boost live dealer game revenues.
- New hardware. New technologies go hand-in-hand with iGaming. VR/AR is one good example; virtual casinos are already catching on, and if increasing development lowers costs, VR casinos could become more and more accessible to wider audiences of players.
- RNG. RNG games will remain ubiquitous. Slots, table games, and crash games will be increasingly popular in Europe, India, and Asia. Here, in order to attract players, you should pay attention not only to large providers but also to new ones, which sometimes enter the market with exciting new game offerings.
- Built-in retention features. Players will continue to respond positively to games that have built-in step-by-step player attraction features such as special game rounds, pressing certain buttons to get rewards, and getting different types of bonuses. All of these things combine to increase player loyalty.
- Diversified game offering. The expansion of the betting portfolio and the varieties of games themselves. This trend is especially strong in Asia. This allows it to diversify its portfolio and attract new players who prefer something new to the classics. Interest in betting on small events during matches also continues to grow.
“Also, the future of the iGaming world is in small studios that enter the market with fresh games and ideas,” notes Maria Baranova, team leader of partner relations managers at Slotegrator. – “Newcomers in the market tend to be more focused on increasing player loyalty, increasing player engagement and, accordingly, increasing the time that people spend playing games.”