Gambling in 2024: Overview of Trends and Investment Opportunities

In 2024, the gambling industry is expected to undergo massive changes. Metaverse projects, VR, Blockchain, and artificial intelligence will bring the industry to a completely new level, give an influx of a solvent audience, and increase the return on investment.

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The Legalisation of the Gambling Industry

According to the online publication Custom Market Insights, the volume of the global gaming area will reach $145.6 billion by 2030.

Average annual growth is expected to be 12% between 2022 and 2030. The legalisation of gambling in many countries will play a key role in the capitalisation of the industry.

The change in legislation is beneficial to the authorities for many reasons:

• the exit of business from the grey zone;
• the increase in revenues to the local treasury;
• the reduction of the risk of gambling addiction.

Entrepreneurs receive transparent and fair conditions for doing business, as well as options for scaling up projects and attracting foreign investment.

North America

Most of the market growth will come from the US.

The impetus for the development of the industry was the abolition of the Declaration on the Protection of Professional and Amateur Sports (PASPA) by the US Supreme Court in 2018. The law was passed back in 1992. Due to this, online gambling and betting projects in the United States were frozen for almost 25 years.

The cancellation of the PASPA declaration gives a new impetus to the development of the gambling industry in the country:

• Online sports betting is available in 31 states and the District of Columbia (Washington). These are Illinois, New Jersey, Michigan, Pennsylvania, Colorado, Indiana, Iowa, and others. In 2024, the market will open in Maryland, Ohio, Massachusetts, and Nebraska.
• Online casinos are legalised in 6 states. These are New Jersey, Pennsylvania, Michigan, West Virginia, Connecticut, and Delaware. Internet poker is legal in Nevada. In 2024, two more jurisdictions will be added to this list: New York and Indiana.
• Online betting projects and casinos are regulated by local authorities. They issue licences, monitor the work of operators and bookmakers, and organise non-commercial events to combat gambling addiction.

Europe

The lion's share of income (more than 30%) in the European market will be brought by gamers from Scandinavia. In Denmark, Sweden, Finland, and Norway, gambling is in great demand among the audience. This field provides a stable profit for operators.

The Scandinavian market is characterised by strict regulation, which will continue into 2024. For example, restrictions on advertising during the daytime, accepting deposits from credit cards, and other limitations will remain in force.

South America

In 2024, online and land-based gambling is planned to be legalised in Brazil. The Senate expects significant budget revenues from taxes, as well as the attraction of large investments in the construction of casino complexes.

The Data Senado Research Institute conducted a survey showing that:

• more than half of the respondents, 58%, support the legalisation of casinos and bookmaker offices;
• the vast majority, 68%, believe that the launch of the market will have a positive impact on the country's budget.

Gambling Industry Digitalisation

In 2024, the profitability of iGaming projects will increase due to the use of information technologies. Virtual and augmented reality, artificial intelligence, the metaverse, and other solutions will make gambling better and more interesting.

The Metaverse Development

Metaverse is a global virtual space where users can live, work, spend their leisure time and, of course, play.

One of the main trends of 2024 will be investing in metaverse projects. These can be games, branded tournaments, content development platforms, and other profitable solutions.

According to the forecasts of the online publication Blockchain Gamer, in 2023, investments in amusement solutions based on the metaverse will amount to $4.5 billion. By 2027, this figure will grow to $435.8 billion. This means that it will increase by almost 10 times.

Consider successful metaverse content that was introduced in previous years, but will continue to please the audience in 2023:

All metaverse games are decentralised. They operate based on DAO applications (Decentralised Autonomous Organisation). Settlements are performed in cryptocurrencies (Bitcoin, Altcoin, Ethereum, and other units). It is also possible to store savings in NFT tokens.

Not only gambling companies but also well-known brands invest in the metaverse. For example, the sportswear manufacturer Nike has launched its virtual world, Nikeland, in Roblox. Automobile concern Volkswagen, in turn, presented the Game On advertising campaign in the metaverse.

The Use of Artificial Intelligence

One of the trends in 2024 will be the introduction of AI algorithms in the entertainment industry.

The consulting company Grand View Research estimated the AI market at $62.4 billion in 2022. The capitalisation is expected to reach $930 billion by 2030.

Machine learning technologies provide such tangible benefits:

1. Improved user experience. AI analyses gamblers' preferences (games, bonuses, reactions, interests, etc.) and based on them, offers the most personalised solutions. The synchronisation of an iGaming account with Google, Facebook, and Netflix pages allows operators to take information from external sites. At the same time, the CRM services built into a casino remain the main sources of valuable data.
2. Increased security. AI improves the performance of security software, allows entrepreneurs to process terabytes of information and instantly detects fraudulent activities. The AI-based program detects suspicious activity and atypical patterns where the human mind is powerless in the face of a huge information flow.
3. The automation of technical support. AI-based robotic assistants solve a wide range of daily operators’ tasks. They include advising clients, helping with registration and verification, informing users about current promotions, and launching tournaments.

The AI cloud service DataRobot implements artificial intelligence capabilities in land-based casinos. The AI program predicts game levels, adjusts the required number of employees on the floors, and checks the results of draws.

The project of the Chinese company SenseTime promises to change the vision of playing in land-based halls. In 2023, the resort complex Resorts World Sentosa in Singapore will open a room where all work will be carried out exclusively with the use of AI. Androids will imitate the actions of a croupier. The special software will track the actions of visitors.

AI is also applicable to online gambling. In 2023, the English provider Playtech will present a joint product with ADA. The universal chatbot will improve the performance of Playtech’s iGaming projects and provide the best user experience in the industry.

The Creation of Smart Watch Apps

In 2024, the smartwatch market will reach $33 billion and outgrow the production of smartphones and desktop PCs in terms of growth.

Leading IT companies plan to release iconic models next year. This causes huge interest among the audience. Now smartwatches can be found in the assortment of Samsung, Apple, Xiaomi, and other international companies.

The development of gaming apps for smartwatches will bring the user experience to a whole new level. It is possible to rotate the slot reels, for example, using the smartwatch buttons, to view, and analyse the data users can on their smartphones. These two devices are often interconnected using modern software (Android, iOS, and other operating systems).

Slot machines for smartwatches can be found in the assortment of:

• Microgaming;
• Konami;
• Evolution Gaming, and other top developers.

Virtual and Augmented Reality

VR and AR technologies improve the user experience, providing three-dimensional and clear visualisation without reference to the physical location of a gambler.

In 2024, the trend towards creating VR and AR casinos will strengthen its positions. This is facilitated by the release of a budget headset by several manufacturers at once.

Modern and inexpensive solutions can be found in the range of:

• Facebook (glasses and helmets from the Oculus Quest 2 series);
• Microsoft (HoloLens 2 headset);
• Magic Leap (augmented reality glasses Magic Leap 2);
• Snapchat (Spectacles AR Sunglasses), etc.

Casino content with VR and AR elements is available from Net Entertainment, Microgaming, and other software providers.

The Popularisation of Bets in Stream Mode

Next-generation programs support interaction with famous streamers on Twitch and other online platforms:

• A gamer connects to the platform from the online casino account or through social messengers.
• Then, the user repeats the streamer's wager. The player, for example, bets $10. The gambler repeats this wager and wins.
• Money is automatically transferred to the gamer's account even though the user does not play but just repeats the actions after the broadcast.

The Trend for Original Casino Content

In 2024, traditional slot machines will be replaced by new types of games:

The Main Things about the Development of the Gambling Segment in 2024

Gaming is a promising field with a high level of profitability and excellent growth potential.

• One of the trends in 2024 will be the legalisation of gambling in many countries, as well as the refinement of existing legislation. The United States will take the leading position. Next year, the operation of online casinos and bookmaker projects will be allowed in several densely populated states at once.
• The digitalisation trend makes iGaming projects more profitable and interesting for users. In 2024, the development of the industry will be influenced by artificial intelligence and virtual/augmented reality. Metaverse projects and smartwatch apps will be of particular interest.
• The trend for original content suggests abandoning traditional mechanics in favour of games with new mathematical algorithms. These are NFT slots, live dealer solutions, and machines with a cluster structure of prize lines.

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