Gambling Industry Trends in 2023
The online gambling industry has always been defined by innovation, and 2023 should be no different.
The gambling industry is expected to keep growing in 2023. Leading European associations predict an average increase in market growth of 7% and an increase in global gambling industry revenues of 34%. What tools do companies need to keep up with the trend? Slotegrator shares expert advice.
The online gambling industry has always been defined by innovation, and 2023 should be no different. With interest in iGaming at an all-time high, there’s plenty of motivation to provide players new experiences, so Slotegrator took at look at the most eye-catching trends to expect in the coming year.
"In the next 5 years we will see 2 main trends. The first will be casinos in the metaverse. There are already prerequisites for this: some companies are already renting space for this solution," says Dmytro Kryvorchuk, Sales Team Lead at Slotegrator.
“The second trend is VR products, which are already of great interest in the gambling industry. There are startups that offer these solutions, and the market is beginning to think and act in this direction. The prospects here, of course, are huge”.
According to a report from Slotegrator's business intelligence department, the industry’s main trends in 2023 will be:
- A changing payments ecosystem. With the collapse of the FTX international exchange in November 2022, many experts believe that interest in cryptocurrency payments will decrease. But their concern may be premature: players are already used to using e-wallets, and cryptocurrencies are continuing to spread around the world. Those who’ve adopted cryptocurrency are unlikely to return to cash payments, and the anonymity provided by crypto is widely prized. Therefore, cryptocurrency is probably not going anywhere, though Bitcoin may give way to other currencies. Slotegrator regularly monitors this issue, updating the payment module on its digital online casino platform Moneygrator.
- Attracting digital natives with a mobile format. Players like to have everything they need for online gaming and betting on their smartphone. Up to 30% of enquiries from new customers, according to Slotegrator's analytics department, come specifically to the mobile platform for online casinos. This puts Slotegrator's 2022 product, Telegram Casino, at the top on the list for those opening an online gambling platform. For owners of classic land-based online casinos, this is an additional opportunity to attract a growing audience of digital natives.
- The emergence of new types of games. It’s no longer enough to simply offer slots. In order to stay competitive, providers will instead continue to create completely new types of games. These will include NFT integration or opportunities for players to be creative, as Aviatrix did, for example, by introducing its crash game with a customizable NFT token to the market in October 2022.
- An update on the concept of live dealer games. The massive move online was partially driven by the pandemic, but the popularity of live dealer games will continue long after restrictions have eased and life has largely returned to normal. For online casino owners, it is already a must-have option, as many players trust live dealers more than a random number generator (RNG). For land-based casino owners, this is an additional opportunity to attract an online audience from anywhere in the world. Besides, there are also excellent conditions for branding individual game elements: tables, chips and so on.
As far as interest in such games is concerned, live dealer games have gained significant popularity in the booming markets of Asia, India, and Africa. Operators in Eastern Europe have been quite successful in using marketing techniques such as cashback, tournaments and welcome bonuses to attract players and keep them interested. In Western Europe, the UK is one of the main markets for live dealer games. Sweden can almost be considered the home of such games, as the main offices of some of the leading game developers are located there.
- The decline in the popularity of land-based casinos. It has become much easier to open an online casino, and the list of benefits is a good indication of why so many entrepreneurs do exactly that. Online casinos can target audiences anywhere around the world, player anonymity is guaranteed, and the most popular features now appear first in the digital format. Gamification and 3D design are powerful tools for attracting new customers. Slotegrator analysts have recorded a 15% increase in interest in opening online casinos with a digital platform in 2022. In 2023, Slotegrator's comprehensive online platform will be modified to meet the demands of the client’s audience, as well as providers and operators.
- Expanding interest in stream betting. Industry experts predict that this trend has a bright future. Such a solution has the potential to increase players' confidence in esports in general, as well as to make the format of stream games more popular.
"The digitalisation of the gambling industry opens up new opportunities to improve the industry. The way things are developing dynamically today shows that the future of the gambling industry will definitely be high-tech and impressive", emphasises Ayvar Gabidullin, Business Development Manager at Slotegrator.
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