The global online gaming market has shown constant and consistent growth, according to industry research by Ginar. Worth $22.87 billion in 2010, a decade later and by 2020 the online gambling and iGaming industry alone is projected to reach a volume of almost $60 billion. That’s an incredible rate of increase and almost a threefold increase in just ten years.
Primarily, this is testament to the industry itself and how carefully it embraces technology, studiously following the latest trends amongst both existing and potential clients, always staying one step ahead of the curve to offer people what they want. Let’s take a look at some of the key trends shaping the gambling and iGaming industry at present.
The Social Gaming Boom
Thanks to the rise in proliferation and ease of access to the internet, via increasingly faster and more reliable connections to our homes and mobile devices, social networks have also become a huge part of our daily lives. Facebook generates 2.23 billion unique visits each month, while there are 1.9 billion unique visitors engaging with YouTube each month. The same social interaction and engagement concept can be seen in other entertainment mediums, too.
This includes gaming, because not only are people attracted to playing at an online casino for real money, they also want to share their experiences, socialise and interact with other players, or participate in tournaments. The social aspect of gaming is something the gambling industry has been keen to incorporate in their platforms, creating an innovative approach by not only engaging directly with players but by allowing them – for example, through live chat – to engage with one another.
Increased Participation of Women
Social perceptions in all walks of life have shifted significantly over the last several decades, especially when it comes to gender equality. Traditionally, the percentage of the male population participating in some form of gambling far outweighed the percentage of the female population.
Figures have changed dramatically in the last few years. Indeed, the 2018 annual report published by the UK Gambling Commission shows that 41% of women are now regular participants in at least one form of gambling. Estimates indicate almost 50% of women in the US are participants. The industry has recognised this shifting trend, with online casinos and gaming sites dedicating their efforts towards female players. This looks set to continue.
Adoption of Technological Marvels
Online casino companies are amongst the swiftest at embracing technological advances, with a specific focus on their own business needs and on the growing expectations of their customers. VR and AR has already gained a strong foothold, with virtual casinos emulating real-life counterparts. Streaming technology has brought people live dealers and events at real casino locations, which people can now enjoy from their home or on the go on a smartphone.
The proliferation of credit card usage around the world, along with the rising adoption of blockchain technology and cryptocurrencies, now offer iGamers alternative and more varied methods of payment. Meanwhile, hardware and software technology continues to move at a lightning pace, which means that next year, something completely new and novel could break into the online gambling industry, paving the way for entirely new and different trends.
