It’s an exciting time to beworking in online betting and gaming. With theUS sportsbetting market openingup (following 2018's major US senate ruling), eSports gaming growing rapidly and technologies likeartificial intelligence, augmented realityandblockchaingaining traction, it feels as if the industry is on an upward curve.
The numbers are telling the same story – the online gambling industry wasworth $41.78bnat the end of 2016, but set to hit$80bn by the end of 2020, with a whopping 11% of total internet traffic coming from online casinos.
The result? Opportunity abound for skilled igaming and sportsbook professionals. Here are just a few of the trends we’re seeing driving this growth – do any of them resonate with you?
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7 Inspiring Trends in iGaming
Take your pick of these tech and markettrends in online gambling, providing ample inspiration for professionals in gaming and gambling.
01 Artificial Intelligence (AI)
Artificial intelligence is making sense of the wealth of data created by online gambling, throughintelligent insightsandautomation of decisions. Applications of AI in betting and gaming are wide-ranging; fromsetting oddsaccurately, to providing targeted offers to customers, toidentifying patterns of problem behaviour. Companies who can leverage these techniques in the right way stand to gain a lot.
02 Payments and Cryptocurrencies
Cryptocurrencies and online gambling seem to be the perfect match. Digital currencies likeBitcoin, Litecoin and Ethereumhave proved popular amongst users; deposits and withdrawals are often easier, plus they benefit from universal recognition, increased anonymity and enhanced safety features. Operators are winning too, since by passingcash-handling commissionsallows them to cut costs and improve profit margins.
03 Blockchain Technology
While cryptocurrencies are the original and most well-known use case of the blockchain, its potential goes much further. Blockchain technologies are being deployed in the online gambling sector toincrease transparency and trust– such as creating accurate and secure user databases without requiring users to give personal information, or marketing solutions that solve the problem of affiliate fraud. There’s huge potential here for the operators willing to innovate.
The esports boom shows no signs of slowing down. Building on the explosion in titles likeCounter Strike: Global Offensive, League of Legends and DotA 2, many new titles are rapidly gaining in popularity, and the industry is awash with sponsorships from big-name brands like Red Bull, Nike, and Mercedes Benz. The ever-growing popularity and hype surrounding esports has already madewaves in betting, with all major operators showing keen interest in the space.
05 AR & VR
Asvirtual reality and augmented realitytechnology is becoming more advanced, companies across many sectors are showing interest. In the gaming and betting industry, the use case is clear – enabling operators to offer a more memorable, immersive experience. Fromvirtual casinos, to displaying live player stats just by pointing your phone at them, the opportunities are endless.
06 Emerging Markets
Whilst the gaming and betting industry might be growing globally, companies are eyeing up the chance to dominate developing markets likeAfrica, India and Latin America. In Africa, a new generation of tech-savvy millennials are coming online, and even though several African countries still need to regulate gambling, African millennials are showing just as much appetite for online betting as their Western and Asian counterparts. In Latam, Colombia seems to be leading the way, having recently overhauled regulation of their gambling industry, seeing seventeen companies so far receivinglicenses to operatethere.
07 US Market (Post PAPSA)
Much attention of the online gambling sector been focused stateside following the repeal of theProfessional and Amateur Sports Protection Act, which has liberated the market and created massive opportunity for sportsbook. However, it still remains to be seen what US customers are demanding, and how best operators will manage regional and demographic differences to deliver a great experience.
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