Top 5 Trends Shaping the Future of iGaming Industry

The iGaming industry is one of the fastest-growing sectors in the world. Millions of players are visiting their favorite online casinos every day. The rise of iGaming is in large part fueled by the technological development that made it possible. The industry leaders are aware of that and that is why they pay close attention to any new development that can be implemented. However, apart from technology, there are other factors that will influence iGaming in the future.

Increased Regulations

It would seem that the honeymoon is over. Government across the globe, especially in Europe, are increasingly trying to impose regulations on iGaming. One of their biggest concerns is that a lot of these companies are registered in tax havens. The other prong is aimed at standardizing the quality of service and eliminating scammers. This is a natural cycle of things and was expected to happen. The industry is maturing and government bodies are taking interest in it. Of course, the ones who will benefit most are customers. A lot of people in iGaming will scream and kick about this development, but it is unavoidable. Regulations will help keep the industry accountable for its actions.

Stronger Competition

The iGaming industry is booming. It would seem that everyone is playing at one or another casino these days. The influx of new players had led to many new casinos being open, which has led to increased competition. While not necessarily good news for owners, it is an excellent one for players. Stronger competition has forced casinos to offer better incentives to attract players. This has made shopping around for best casino bonuses before signing up mandatory since the bonuses vary widely between the casinos. But as the number of casinos grows, they will face another issue. Bonuses work for acquiring new players, but what about retention of the current ones? Casinos may be forced to offer similar incentives to them as well.

AI-Driven Data Analysis

It sounds incredibly boring, but the prospect of using AI in analyzing data is probably the trend that will have one of the biggest impacts on the future of the iGaming industry. It will allow casinos to offer a personalized experience to every player without charging them a premium for it. With machine learning and AI, the decisions will be made in real-time, significantly reducing waiting times. Casinos will be able to spot abnormal players; behavior and react instantly, which will reduce the cases of binge gambling and prevent scams. All this will hugely improve the player experience and create a safer environment, pushing the industry into the mainstream. iGaming will not be considered a fringe industry, but rather an established one that cares about its users.

Blockchain Technology

With the advent of blockchain technology, more and more casinos will look to implement it. Blockchain has been just another buzz word for a while now, but we are finally seeing some real implementation. The inherent security of the system is what draws the iGaming industry towards it. The first casinos using blockchain are already in operation and the results are encouraging. All transactions are safely stored and recorded. The waiting times for payouts and deposits are reduced to a minimum since the funds are stored in a similar way. The current bottleneck is bank transfers, but that too will be solved eventually. In 2020, we expect to see a huge number of casinos embracing blockchain.

Improved Mobile and Social Gambling

An increasing percentage of players are using mobile devices for iGaming. While they have always been present in significant numbers, new developments will increase it, leaving traditional browser players in minority. An added bonus that increases the immersion factor is the social component. Interaction with other players, leader boards, various community challenges are just some of the social features that attract new players. This will be a staple of future iGaming, bringing it on par with the gaming industry in general. Mobile apps will speed up the transition and new software solutions will make it easier than ever to access your favorite iGaming spots on the go.

While new technologies can make possible new types of games, like interactive and VR ones, other aspects shouldn’t be ignored when discussing the future of iGaming. The social component, as well as government regulations, will have a huge impact on how the industry is shaped in the years to come.