iGaming Business Trends in 2024

Online casino
Updated 07 august 2024
Online Casino Market experts have analysed the preferences of gamblers to understand where the industry is going and what is relevant to attract a large audience.
A list of iGaming tendencies in 2023 relates to such areas as:
operations;
player behaviour;
payments and licensing;
gamification;
security.
This year, the focus is also on player engagement and retention.
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.

In the gambling world, businessmen should keep an eye on innovations and customer preferences. Players’ choices and requests are key to the development of trends in the gaming environment.

iGaming business trends: basic info

Online Casino Market experts have analysed the preferences of gamblers to understand where the industry is going and what is relevant to attract a large audience.

Our specialists have vast experience in the development of iGaming projects, constantly examining up-to-date trends. We offer profitable and risk-free turnkey casino projects.

iGaming Industry: Interesting Facts

Despite severe regulation or strict bans in many countries, the gambling sphere is gaining momentum both in terms of revenue and the number of online casino users.

Here are the main events of recent years that confirm the boost of iGaming development:

  1. As of the end of 2021, the revenues of the online entertainment sector brought in more than 58 billion US dollars, and in 2022 — 80 billion worldwide.
  2. The annual growth rate of the gambling market is high and varies between regions. In Europe, the indicator reaches 8.23%, in the Asia Pacific region — 11.39%, while in Africa — 12.65%.
  3. Industry regulation significantly expanded in North America after the legalisation of web amusement and Ontario gambling debuted in Canada.
  4. The Curacao Gaming Authority, an independent gambling regulator, was reorganised in July 2022.

List of Web Gambling Tendencies in 2024

Experts from Online Casino Market have divided the relevant trends into categories:

Operations

The main tendencies in this sector include:

Data-driven decisions

Administrators who buy finished software products for their online casinos usually do not have access to information, which is valuable for creating an effective course of action.

An up-to-date trend of data-driven decision-making helps build strong customer loyalty. It is the process of collecting real-time information, which is used for:

  • enhancing the project performance monitoring;
  • segmenting clients by location, age, gaming patterns, and other characteristics;
  • identifying products and features that potential customers would like;
  • boosting bonus systems under the audience’s preferences and motivations, etc.
Higher promotion costs

Operators of online casino businesses should create a decent, unobtrusive, and interesting advertising campaign.

Professional gambling companies are already using videos with great graphics and mini-games instead of boring template banners on sites. Accordingly, the price for such advertising is high

Brand ambassadors

Prestigious casinos attract famous stars from the world of sports, fashion, film, etc. It is profitable for gambling companies to invite media personalities due to their great reputation and the trust of numerous people.

Despite the significant expenses, operators can:

  • get decent traffic growth;
  • expand the gaming portfolio;
  • prove the legality of business
Customer retention

The most important thing for any sphere, especially for gambling, is to attract and retain clients. The iGaming audience has different and changeable tastes and may be hard to please.

Operators should increase the lifetime value of every player by providing:

  • VIP options;
  • generous and frequent bonuses;
  • various communication and feedback channels, etc.
Focus on engagement

Casino entrepreneurs must develop brand recognition and improve customer loyalty. You can attract the target audience by installing the most convenient payment methods, updating the entertainment portfolio, etc.

For example, free-to-play content is a fresh trend that helps increase internet traffic. Punters are attracted by an opportunity to try out entertainment mechanics without making deposits

Player Behaviour

Casino player behaviour: changes

In this category, the following trends became the most popular:

  1. Personalisation. Gamblers have different tastes, but all of them seek pleasant experiences and excitement. Operators should provide various content and take a user-centric approach to meet the desires of each customer.
  2. Mobile and smartwatch gambling. Punters enjoy easy-to-play games and quick access. The mobile casino market is actively expanding, and in some regions like Africa, it is prevalent. Users enjoy placing bets on smartwatches too — prominent developers offer demo games and ads even on such small screens.
  3. eSports. Cyber gambling is getting more popular and is predicted to bring over 24 million US dollars in revenue by 2028. It is a relatively fresh iGaming niche, which is popular in South Korea, the USA, and China. It attracts not only a solvent adult audience but also a base of young cyber sports fans.
  4. Stream betting. Real-time sports gambling motivates players to place more bids. About 65.7% of wagers are made during live matches since punters crave instant wins. Bookmakers should provide cross-platform streaming of sports events, considering various disciplines and the most popular competitions.
  5. Live dealer games. In the past, this type of entertainment was used as a warm-up or addition to the entertainment catalogue. Today, such casinos are very popular, especially among the crypto audience. Punters enjoy the atmosphere of a real gaming room with high-quality footage and get an immersive experience from home.

Payments and Licensing

In terms of finance and regulation, many more countries have decided to legalise gambling and expand opportunities for both operators and players.

The main things that an online casino entrepreneur needs to pay attention to are:

  1. Diverse financial options. Punters seek easy ways for depositing and withdrawing funds. Owners of modern internet casinos should offer accessible and fast payment modules. These include debit and credit cards, e-wallets, etc.
  2. Cryptocurrency operations. Digital money is getting popular among owners of online casinos due to anonymity, immediate payment processing, and the absence of commissions.

Gamification

In this category, there are some key things to consider:

  1. Metaverse gambling. It is a hybrid casino experience, where punters are offered AR/VR technology, Blockchain, and unique gameplay. Placing bets in amusement meta-worlds is an exclusive trend of 2024, which attracts a solvent crypto-oriented audience.
  2. Jackpots. Large prizes encourage players to place higher and more frequent bids. Prominent operators connect various jackpots to their product lines to attract more customers and gain more money.

Security

All entrepreneurs are concerned about providing 100% safety for their casinos.

To protect an establishment, an operator should take into account the following aspects:

  1. Responsible gaming. The number of problem gamblers is decreasing every year, but casino owners still need to combat the underlying problems (ludomania, affective behaviour, etc.).
  2. Data privacy. Every player is concerned about personal information protection against fraud and manipulation. The main trends in data privacy are transparency, preserving user rights, and improvement of the legal framework in every country.
  3. ID verification in casinos. Internet criminals and hackers are now more sophisticated so operators should provide high-quality player validation. It is important to check every client by requesting identity cards and bank documents to confirm personality.
  4. Anti-fraud measures. For the complete safety of a web gambling resource, an operator should hire risk-management professionals or obtain programs to combat criminal activities. Aggregators like Online Casino Market propose reliable anti-fraud software to eliminate financial abuse and money laundering, as well as prevent potentially harmful activities.

The Main Things about Gaming Tendencies of 2024

Online casino trends: key notions

The gambling industry is developing quickly, frequently changing trends, and introducing innovations. Operators should listen to their audience, studying each customer. The main focus in 2024 is on player engagement and retention.

Online Casino Market helps entrepreneurs create and improve their gaming projects.

We provide relevant and well-produced solutions, for example:

With us, you can launch a turnkey gambling project with quality support service following the freshest trends.

Contact our consultants to learn more about how to run a successful gaming platform.

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Karen Fill

Author

Karen Fill

Gambling business expert at Online Casino Market

Updated 07 august 2024