The digital gambling field is rapidly growing, showing more signs of blooming prosperity worldwide. A lot of countries are implementing gaming regulations or planning to do so, while fresh technological breakthroughs fuel further progress.
Industry experts predict global revenue will reach $97.15 billion by the end of 2024. Meanwhile, a yearly growth rate of 6.47% may be seen until 2029, leading to earnings of $132.9 billion.
The Casino Market team has analysed the factors behind that impressive rise to explain why 2024 is a perfect time to start investing in the iGaming segment. At our company, you can order the development of a turnkey gambling business.
Worldwide Industry Expansion
New markets are constantly emerging as governments take measures to establish well-regulated entertainment fields and leverage their promising opportunities.
The authorities legalise casino and sportsbook services to channel taxes into realising national initiatives. They understand that a complete ban or the absence of proper supervision in the sector only fuels the development of black markets, causing serious revenue churns.
The industry grows worldwide:
- Latin America. Both established (Peru) and emerging (Mexico, Colombia, and Brazil) iGaming segments are a hot topic for international investors. Many niche conferences are dedicated to analysing the region’s prospects and searching for optimal ways to enter it.
- Africa. The area is well-known for its commitment to sports betting and mobile gambling. Countries like Kenya and Nigeria draw much attention from the industry’s long-standing participants and aspiring entrepreneurs.
- North America. Canada’s Alberta is preparing to launch the gaming vertical, while Ontario has been successfully operating for 2 years already. The United States is also experiencing a massive wave of casino and sportsbook legalisation.
- Europe. Lots of countries have officialised RMGs and are prospering now. Some governments have successfully managed the segment for years, demonstrating a great example for others. Many are revising their rules to make gambling even safer and more transparent.
- Asia. The region, famous for its dedication to live casino games, also shows notable expansion signs. The UAE and Japanese governments are about to launch ground verticals soon. It is just a matter of time before they start discussing the legalisation of digital activities.
Emerging markets are an excellent option for aspiring brands. These countries have low competition and often feature minimal entry requirements. While well-established regions make startup owners fade against industry giants, newly regulated ones offer much more manageable conditions.
Licensing opportunities are also expanding. Operators can possess a permit and headquarters in one state and work in dozens of others. This factor is significant for those who value flexibility and freedom while striving to scale to global business activities.
Emergence and Evolution of Technologies
Digital gambling is all about dynamism and speed. To maintain these specifics, the industry quickly embraces innovative concepts and solutions.
Blockchain is among the most widespread technologies in the niche, and cryptocurrencies are penetrating different aspects of the segment. Games based on the decentralised system attract much attention from those interested in cutting-edge products. Provably fair content has become a hit since it ensures confidentiality and better security. Some brands went even further and created exclusive crypto tokens for their customers only.
Artificial intelligence and complementary machine learning are also popular since their benefits are numerous and almost irreplaceable.
AI tools help operators with the following tasks:
- protecting projects;
- enacting marketing programs;
- performing high-volume data analysis;
- automating and speeding up regular processes;
- delivering even more exciting experiences to players, etc.
Non-fungible tokens were underestimated in several commercial niches. Nevertheless, the iGaming segment became a perfect platform for NFT development. Collectable, personalised items were integrated into virtual content and quickly found their fan base.
New Entertainment Formats
Just several years ago, a web casino amusement pool was limited to slots, table simulators, betting, and lottery draws.
Recently, the assortment was expanded with the following options:
- plinko;
- shooters;
- crash games;
- eSports wagering;
- sessions with live dealers, etc.
Generations of players change one another, and younger punters bring in new preferences, motivating developers and operators to come up with fresh entertainment formats. This sequence positively affects the entire industry, creating exceptional platforms and allowing their owners to stand out.
Broadening Target Audience
With the spread of regulations, innovations, and marketing possibilities, more people are becoming interested in online gambling. Zoomers are now a primary focus for many entrepreneurs. This category is tech-savvy and values socialisation options in casinos.
Gen Z has more fun playing games with other participants instead of alone. Online connections break the barriers between people and ensure more thrilling experiences. Thus, operators are advised to incorporate components that facilitate communication and competition-related passion.
Types of general and in-game social elements:
- gifts for friends;
- referral programs;
- text and voice chats;
- reactions (likes, emojis).
Punters will spend more time playing gambling content if they can simultaneously interact with other portal visitors and session hosts. Another fascinating fact is that Zoomers often start their acquaintance with the iGaming world through social casinos, then shift to RMG offers.
Interest in the niche continues to rise and hardly ever decreases, changing its usual format instead. Most economic, political, and other world events do not minimise the attention paid to the industry. For instance, the pandemic has shown that people want to relax and enjoy games in any circumstances. This period brought a significant boom to digital entertainment platforms.
Investing in the Vertical: William Sarto’s Opinion
CasinoRIX’s PR & Marketing Specialist believes now is the best time for aspiring entrepreneurs to enter the online segment.
The affiliate project’s expert listed several reasons to think so:
- new regulations;
- increasing competition;
- rising entry requirements, etc.
He said more companies launch their projects annually. The longer startuppers wait, the greater the gap between them and other studios in the vertical. Mr Sarto added that the effectiveness of SEO promotion depends on the website’s age. Earlier debut benefit managers in this regard.
Delays can cause more difficulties and expenses. In a year, newcomers will need more funds to open businesses than those who act now. The specialist noted that the audience acquiring cost continues to rise: link prices increase annually, and this surge is large in some regions.
Mr Sarto also mentioned regular M&A agreements in the sector. Niche brands collaborate, unite, and transform into market giants, making it harder for newcomers to stay competitive. Thus, this year is a perfect time to start an online casino since it offers more favourable conditions.
The Main Things About iGaming Investment in 2024
Reasons to Invest in iGaming in 2024
Global Industry Expansion
Peru, Mexico, Colombia, Brazil
Kenya, Nigeria
Canada, USA
Many countries have legalised gambling
UAE, Japan
Technological Innovations
Ensuring security and confidentiality
Automation and enhancing user experience
Personalised items in virtual content
Innovative Forms of Entertainment
- Plinko
- Shooters
- Crash Games
- eSports Betting
- Live Dealer Sessions
Expanding the Target Audience
- Gifts for Friends
- Referral Programs
- Text and Voice Chats
Tech-savvy, value socialisation
Expert Opinion: William Sarto (CasinoRIX)
- New regulations
- Increasing competition
- Rising entry requirements
- Act promptly to stay competitive
- The cost of acquiring an audience is rising; resources for starting a business will be higher later
With the spread of gambling regulations and technologies, the digital segment has become even more appealing to entrepreneurs worldwide. The reasons for entering this market grow in number.
Central notions from the article:
- The iGaming sector is expanding worldwide. Governments legalise web casino and sportsbook services to channel taxes into realising national initiatives.
- The industry quickly embraces innovative technologies. Blockchain, AI, machine learning, NFTs, and other inventions improve and strengthen the internet vertical.
- The assortment of entertainment formats grows. In recent years, plinko, shooters, crash titles, eSports wagering, and similar novelties captured the attention.
- More people are becoming interested in web gambling. Tech-savvy, social-oriented Zoomers are now a primary focus for niche entrepreneurs.
Casino Market experts can help you open a profitable iGaming project with reliable software on a turnkey basis.
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