Latest Trends of Online Casino Industry
Find out what trends are changing the online casino industry in 2022 and 2023.
It’s no secret that with the onset of the COVID-19 pandemic, the online gambling industry in general and online casinos in particular began to develop not just very quickly, but by leaps and bounds. The size of the global online gambling market was estimated at almost $58 billion in 2021, and quite logical forecasts were made for an increase in CAGR from 2022 to 2030 to 11.7%.
Such bright prospects are due to the spread and demand for mobile phones as a convenient means of online gaming anywhere at any time, as well as the growing expansion of the internet into everyday life. Throw in public and legislative approval, the easy availability of online gambling on the internet, celebrity support for online gambling, widespread advertising, and it becomes immediately clear that online casinos lead the van today.
But the online casino industry develops thanks to the constant striving forward. Trends of gambling industry that meet the needs of the target audience, and sometimes anticipate them, are the key to online casino success. We invite you to get acquainted with the new trends of the casino industry in 2023.
The demand for a live casino has increased due to forced lockdowns. Players who are accustomed to going to land-based casinos felt the need to experience the atmosphere of a live casino, despite being trapped within four walls. But after everything returned to normal, gamblers did not abandon live dealer games. It seemed convenient to them that in just a couple of clicks they could find themselves in the company of a real dealer – charming and witty, and at the same time it was not at all necessary to get up from a comfortable home chair.
Another reason for the popularity of live casinos is that the target audience of online casinos is people aged 22-35. The internet has easily and firmly fit into their daily lives, and for them doing business on the internet – ordering food, paying bills, making purchases – is familiar. For such people, of course, entertainment content is easier to receive via the internet than offline. Thanks to live casinos, gamblers interact with real croupiers in real time. High-definition video, well-equipped studios, and 24/7 access make the live casino a favourite for many players.
The opportunity not only to play, but also to watch the game in real time is highly appreciated by gamblers. The most impressive moments of the game, gamblers can live with their favourite streamer, imagining themselves next to them. This to some extent echoes the excitement of “betting behind”, a functionality that is just appearing on the market, but already attracting the attention of iGaming industry representatives.
We are talking about the fact that before the lockdowns associated with the pandemic, players visited land-based casinos and bet “behind” someone who was already sitting at the gaming table. At the moment, some operators are trying to recreate the atmosphere of a real casino as believable as possible and are trying the “bet behind” option so that the player can choose the amount of the bet, the number of spins and play along with the streamer.
An online casino has a number of advantages over a land-based counterpart, but as a rule there is not enough communication there. Many operators and providers are looking to remedy this by enabling gamblers to communicate online. The aforementioned streaming is a special case of the socialisation of gamblers. Players can also subscribe to each other and see mutual achievements and statistics.
In addition, today more and more online casinos are working on the issue with player chats. Just imagine: a gambler enters the site, logs in, makes bets, and at the right moment opens a chat and chats with other players, discussing their bets, game and achievements. This brings users of a particular online casino closer together, because a kind of community is created where like-minded people gather. Such an online casino strategy increases the loyalty of players to it.
To capture a young audience and keep players of all ages interested in the game, the online casino relies on gamification elements in the game. Imagine how attractive it is for a gambler to choose a character, complete a quest, and receive a reward for a successfully completed level. The gambler feels that they can add personal preferences to the game and influence the process, and not just press the virtual “lever” in the slot or the “Play” button.
This trend appeared in online gambling under the influence of the video game industry. Gamification is also successfully applied in other areas, for example, in banking services, in online shopping, etc. Engagement and loyalty opportunities have proven to be successful and popular with people due to their motivation.
There are two possibilities to use blockchain technology for online casinos. In the first case, crypto-payment methods are integrated into the crypto-casino. That is, the online casino accepts both fiat and cryptocurrencies for deposits and withdrawals. In the second case crypto-casino is based on the blockchain and is not just a crypto-casino, but a blockchain-casino. Transactions in a blockchain casino do not need intermediaries, but take place directly between the blockchain and the gambler’s cryptocurrency wallet.
Blockchain technology is becoming more and more established in the online gambling market. Gamblers like the ability to remain completely anonymous without sending personal data when registering. In addition, the transaction speed for deposits and withdrawals is almost instantaneous and without the high percentage of fees inherent in fiat transactions.
BGaming is in trend
The iGaming market is growing and developing at a fast pace, and in this case, online gambling companies always have to improve their product and act quickly and confidently. BGaming sensitively captures the desires of the players. It became the world’s first provider to support cryptocurrencies. And this is proof that BGaming is not just following trends, but setting them.
By the way, the brand also became the first slot developer in the entire online gambling industry to create and implement the Provably Fair feature. This function is based on a cryptographic method and provides the player with a fair and transparent game by encrypting the result of each subsequent round.
Also in BGaming games, the gambler is motivated to continue the gaming process. For example, in Journey Flirt game, different bonuses become available to the player if they continue to play, and in WBC Ring of Riches and Foxy Wild Heart there are 10-spin game cycles, which then give out a bonus, and players also play more.
To date, the BGaming collection includes 90+ games, including slots, casual games and other popular games among the online gambling audience. And all of them are available for online casinos thanks to fast and seamless API integration. Fast in the literal sense – it will not take a week for the integration to be implemented. If you need even faster – BGaming accepts the challenge! Contact us!