The world of iGaming is a fast moving one and in the past few years alone we have seen some major changes and developments in the industry. With half of the year already gone, you may be wondering what iGaming trends and developments are still to come. Companies not only need to stay ahead of technological developments and trends amongst competitors but they should also keep up to date with consumer behaviour and buying patterns. Read on for our top iGaming predictions for the rest of the year.
Better Gaming Experiences
Any company based in the iGaming industry will know that it is imperative to keep moving with the times and technologies. Keeping up to date ultimately provides a better gaming experience for users and this is a big trend for the year ahead. As user experience is one of the most important aspects of the industry, pay particular attention to the visuals, graphics, sound and music used within your products, services and marketing. This is what sets apart the best iGaming companies in the business and allows them to be ahead of the curve. Nowadays it is also more important than ever to consider the device your customers will be using to view your product or service. The latest data suggests that mobile traffic accounts for up to 56% of the market, placing it ahead of desktop usage so take care to ensure that your website is formatted to be compatible and easy to navigate for mobile. Lastly, there has been a lot of buzz around virtual reality or VR in recent years but we are yet to see many iGaming companies put the technology into practice. VR could really lend itself well to the online casino and gambling market so we predict that some of the big players in the industry will be investing in this sector going forward.
Cryptocurrency is again another buzzword that has been flying around all industries across the past couple of years. As cryptocurrency becomes more mainstream and widely accepted as a form of payment, we will likely see more casinos and betting companies jump on board. There is already a plethora of online casinos that accept bitcoin as a form of payment and that number is set to grow. So why might companies want to offer the use of crypto in their casinos? There are many reasons such as faster transaction speeds than traditional methods, higher deposit and withdrawal limits and greater transparency between the business and the customer as most transactions will be on the blockchain and therefore traceable. On the other hand, many users may still be getting to grips with such advances or not wish to be involved with crypto so it’s a good idea to get to know your audience and what will work for them, don’t alienate loyal customers.
Easing of Legislations
One of the many challenges of the iGaming industry is the regulations in place across the world that limit and, in some cases, completely ban the related activity. However, a trend that many in the arena will be glad to hear of is the easing of legislation across the globe. The US and Canada in particular are starting to see a real easing of laws and regulations surrounding online gambling and casinos. This will be welcome news to many in the business as the US is known for having varying legislation from state to state making it difficult for companies to enter the market so this may ease some of those difficulties. New markets with huge potential are also starting to open up such as India and Thailand, where gambling legislations are starting to be eased after decades of the activity being banned. Companies who are thinking about expanding to new territories should of course do so with caution and carry out the relevant research to avoid breaking any local laws. It is always a good idea to partner with a local compliance operator as they will be able to guide you and make a much smoother transition. Local knowledge is key when expanding to new locations.
It is clear that the iGaming industry is continuing to evolve and capture the imagination of many different consumers and sectors. These are just some of the main trends we expect to see in the coming months but if you want to talk all things iGaming more in depth, get in touch with the team today.