The igaming industry is constantly evolving, and each year comes with new megatrends and innovations. We witnessed significant iGaming trends in 2023, including growth in cross-platform gaming, cryptocurrency, esports betting, and adjustment in gambling regulations. These factors have contributed to the skyrocketed number of gamblers.
The Online Gambling Global Market Report predicts that the online gambling market will hit $125.6 billion at a CAGR of 9.1% by the end of 2027!
As we approach the new year 2024, the iGaming industry is poised for bigger changes. In this article, we’ll explore all the iGaming trends set to reshape online gambling and take it to the next level.
Growth of Metaverse Casinos
We expect to see a steady increase in Metaverse Casinos. Unlike the standard casinos we are used to, Metaverse sites integrate advanced technologies, such as Artificial Intelligence (AI), Augmented Reality (AR), Virtual reality (VR), and cryptocurrencies. These modern casinos also enhance the gaming experience with cutting-edge Web3 technology.
What makes Metaverse Casinos special?
As aforementioned, Metaverse casinos combine various modern technologies to deliver an immersive gambling experience. They are designed to allow players to personalize their avatars and boost social engagement.
It’s interesting to discover the potential of new technologies to build communities, personalize the gaming experience, create unbelievable impressions and retain players. An iGaming world is one of the first to test new technologies and innovations in action, so we have all the opportunities to strengthen not only iGaming products, but the entire industry.
Dmytro Taran, COO at Slotegrator
Increased Use of AR and VR
Augmented Reality and Virtual Reality technologies are already rocking the iGaming industry. This tech is expected to go wide and wild across the industry in 2024 and beyond. Both AR and VR are revolutionizing the way standard online casinos operate by providing a more engaging experience.
VR online casinos offer a realistic experience, just like traditional land-based venues. The unique thing is you access games with enhanced features, better graphics, and authentic sound effects. In 2023, we saw new VR Headsets customized with built-in computers, and we expect more as we enter a new year.
With the increased use of AR and VR technologies, the iGaming industry is destined for greatness in the coming years. As per Industry ARC, the AR & VR Game market will expand to $11 billion by 2026 with a CAGR of 18.5% between 2021 and 2026.
Enhanced AI-Based Game Development
Artificial Intelligence has already taken the iGaming world by storm. It plays various roles, including NPC behavior and procedural content creation. We expect to see more AI-driven tools to enhance the development of casino games with realistic graphics, mechanics, and environment.
Additionally, AI-powered NPCs are expected to be more intelligent to provide players with challenging and dynamic adversaries. The technology also helps to scan and analyze markets and audiences faster than humans. Other significant roles of AI in iGaming include promoting new products, supporting players, spotting risks, and protecting casinos from potential attacks.
IDC Worldwide‘s statistics indicate that most company expenses on AI will hit $300 billion by 2026. Artificial Intelligence is also expected to contribute $15.7 trillion to the world’s GDP by 2030.
“Artificial intelligence would be the ultimate version of Google. The ultimate search engine that would understand everything on the web. It would understand exactly what you wanted, and it would give you the right thing. We’re nowhere near doing that now. However, we can get incrementally closer to that, and that is basically what we work on.”
Claude Shannon
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More Focus on Responsible Gambling
Responsible Gambling has been one of the top iGaming trends for many years and will still be a big area of focus in 2024. As we know, gambling can be addictive, especially when proper measures are not established. In fact, online gamblers are twice as likely to get addicted. This is why responsible gambling must be emphasized globally.
Many online gambling operators are implementing new tools and measures to control problem gambling cases. We expect to see changes in the way online casinos and bookmakers are regulating how they serve bonuses and promotions to reduce the amount of time spent on gambling.
According to QuiteGambling.Com gambling addiction statistics worldwide vary between 1.2 – 6.0%.
Enhanced Online Mobile Gaming
The introduction of mobile gaming has been and is still one of the best igaming trends. Mobile devices have revolutionized the way we play online casino games and bet on sports. We expect this trend to continue in 2024, given the flexibility and convenience of smartphones and tablets.
Surprisingly, almost all top online casinos are optimized for mobile devices. Some have downloadable Android and iOS apps while others are accessible instantly via standard browsers. A short survey we carried out indicates that many people prefer mobile betting and gaming to using desktop computers.
Integration of Crypto and NFT
Cryptocurrencies and non-fungible tockens (NTFs) are been making waves in the online gambling industry for a while. We anticipate seeing more online casinos embrace cryptocurrencies and other modern payment methods in 2024 and beyond. Integrating blockchain and NTF will help gamblers to have true ownership of all in-game assets and characters. Thus, they can sell, trade, or use their virtual possessions on real money casino games.
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What is the Future of the iGaming Industry?
Merging innovative technology with emerging trends means endless possibilities in the iGaming industry. We have seen the igaming trends transform the gaming world by enhancing engaging and overall experience. Many new markets are embracing these developments to scale their businesses to the next level. Overall the iGaming industry has a bright future given the fast technological advancements.
