Online gambling is a $95 billion industry according to research firm Statista. This is more than double the $45 billion it generated in 2019. What’s the driving force behind this quick growth?
For starters, there’s increased legalization. The US permitted sports betting in 2018. Canada allowed single-event wagering in 2021. Secondly, the industry is safer now.
You can find safe legal betting sites with a few quick Google searches. Of course, use the latest information to find genuine and reliable legal betting sites. Look out for sites willing to reward you with a bonus after you create your account.
That being said, let’s look at all the lessons we can learn from the increased rise of iGaming around the world.
Government Support is Good for the Industry
Everyone in the iGaming world already knew this. When a government supports online gambling, the sector succeeds. The UK is a great example. Although regulators have been adding restrictions to the industry, they still encourage a competitive gaming environment.
The UK is home to more than 200 online casinos and over 500 sportsbooks. This extensive list of gambling companies encourages competition. And where there’s competition, you can find good services.
Indeed, nearly every iGaming site in the UK welcomes you with generous bonuses. Next, you have access to hundreds of slots and table games. These casinos are mobile-supportive and provide reliable customer service.
Back to government support, taxes are low in the UK. Gamblers do not pay taxes on their winnings. Operators pay 21% of their gross income to the government. Away from taxes, the government is incredibly efficient when it comes to rooting out untrustworthy operators.
From hefty fines to license suspensions, the UK Gambling Commission does not tolerate misconduct by operators.
Personalization is the Future of Gaming
The most successful online casinos in the world customize their services to satisfy each customer. Let’s start with rewards. If you want to play slots, the ideal site will give you free spins immediately after you create your account.
If you lean more toward poker and blackjack, you can still get a bonus. But usually, this comes after you link your payment method. Speaking of banking, the best sites allow you to use your preferred e-wallet or credit card company.
Nowadays, casinos and sportsbooks support all the leading payment providers. You can use GPay, PayPal, Skrill, EcoPayz, or Qiwi depending on where you live. Or, you can link up your Visa/MasterCard. Other accepted payment methods at iGaming sites include Bitcoin, bank transfer, and e-Checks.
Beyond banking, iGaming operators personalize your games’ catalog, language, and customer service. They use AI to track your interests. Also, they let you favorite certain games you like to play repeatedly.
Online Gaming is No Longer a Taboo
Before the Internet, not everyone was into gambling. A lot of people thought it was immoral and not deserving of legalization. Times have changed. Not only do people believe it’s okay to gamble, but they’ve also been encouraging legalization.
Let’s use the USA as an example. More specifically, we’ll focus on Maryland. During the 2020 elections, voters were asked where the state should allow sports betting. An overwhelming 67% of people voted yes.
Overall, 33 states now permit legal sports betting while seven regions accept online casinos. While progress is needed to make gambling legal in the entire country, all evidence shows people are supporting legal betting.
Around the world, sentiments are similar. In Canada, some people used to be against legal betting. Yet, Canadians in Ontario spend over $5 billion betting legally last year.
Where online gambling is illegal, the reason is mostly due to an unsupportive government. Even in the Arab world where betting is prohibited in the Quran, there are always people supporting the industry.
Mobile Gaming Will Continue to Dominate
The iGaming industry changed entirely after the iPhone’s release in 2007. Apple introduced an app store where developers could provide their apps. Google did the same but banned betting apps.
Over time, a newer mobile development language was launched—HTML5. It killed Adobe Flash. More importantly, it gave casino developers a better alternative to app stores.
These days, most casinos don’t even create native apps. They provide their games exclusively on mobile websites. People love mobile sites because you don’t need to download games or apps.
Secondly, mobile gaming is more convenient than PC. You can play slots while on the subway if you own a smartphone. You would be reluctant to do the same while using a laptop.
Secondly, mobile devices now support most casino games. In the past, you couldn’t play certain games on your phone. Now, you can even play live poker and roulette on a low-budget Android phone.
Technology Inspires iGaming Trends
When you think about it, most trends in iGaming center on the latest technology trends. Mobile gaming became a thing after smartphones became popular globally.
Crypto casinos increased after everyone learned about Bitcoin. Next came blockchain casino games, Pay by phone casinos. In 2023, there’s a lot of focus on AR and VR.
Experts believe future slots will all incorporate VR or AR. So far, only a handful of slots support these technologies. But then again, most people around the world are yet to embrace these innovations.
Another futuristic gaming trend casinos are yet to embrace fully is gaming on smartwatches. It might get popular if the world supports smartwatches the way to use mobile phones. But in the meanwhile, almost no one gambles on their Apple watch.
Successful Casinos Invest in Marketing A Lot
There’s one glaring difference between successful and unsuccessful casinos. The best sites have huge marketing budgets. Some of them partner with influencers. Others have blogs or use social media.
The bottom line: how an iGaming site markets its brand determines its success. Affiliate marketing is the tool of choice for most casinos and sportsbooks. However, brand sponsorships also work greatly.
This is especially true for sportsbooks. Betting sites that work with popular sports clubs and athletes are really doing well financially.
