The iGaming market continues to grow at a staggering rate and is predicted to reach an eye-watering revenue of $107.30 billion in 2024. iGaming includes online activities like sports betting, online poker, casino games, and esports, so it’s a large umbrella term that encapsulates many of today’s most popular online activities. As such a large and fast-growing market, it’s inevitable that the iGaming market is constantly changing. There are many changes and developments that have occurred in recent times, so what are some of the main trends in 2024? Here are a few of the key trends that will be shaping the iGaming market in 2024.
Live Dealer Games
One of the biggest trends right now is live dealer casino games. Live dealer games involve playing casino games with a real-life croupier and other players from around the world with the use of streaming technology. This can create a more authentic, social, and immersive casino experience that brings a new layer of excitement to casino games.
Implementation Of AI
Of course, AI is having a huge impact on the iGaming market in 2024 (and just about every other market!). There are many ways that this technology is currently being used, including the creation of new generative AI games, personalizing gaming experiences, chatbots, and implementing response gaming measures. This will be one to keep an eye on as it’s likely that AI will find many other uses in iGaming in the months and years to come.
Identity Verification
It’s also important to be aware that cybercrime is on the rise and a major issue in iGaming right now. With so much money involved in iGaming, it’s inevitably heavily targeted by cybercriminals who are using advanced tactics and technologies. Customers need to be aware of the best cybersecurity practices, but organizations must also take measures to protect customer data. One of the key ways that this is being achieved is with better identity verification. Traditional methods no longer suffice, so operators need to use stronger measures during onboarding to prevent fraud. This can include asking customers to submit photos of government-issued identification and using bank statements to confirm addresses. There are also triggers that can be set up, such as attempting to place high-value bets or increasing bet volume.
Responsible Gaming Initiatives
There’s also a much greater emphasis being placed on responsible gambling. iGaming can be a fun activity for many people, but it can also lead to problem gambling. Many people find it hard to walk away and end up chasing losses, which can be a slippery slope. Operators are doing more to raise awareness about problem gambling and the signs of addiction, as well as implementing measures like daily deposit limits and time limits to control spending.
These are currently a few of the biggest trends in the iGaming market. It’s amazing to see the growth of this market in recent times, and there are continuous trends and developments happening. This can make it hard to keep pace, so hopefully, this post has helped you have a better understanding of what’s happening in 2024.
