Online gambling is one of the industries that are developing at the highest pace. And it is no wonder in that, especially if we take into account the income level the industry generates globally. According to Statista, the global online gambling industry was estimated at $67 billion in 2023, and there is a tendency for this value to grow. By 2023, this figure is predicted to reach almost 93 billion. To take advantage of such rapid growth and conquer new market segments, gambling companies should certainly follow the emerging trends in the industry.
What Will Make the Industry Rock
It is quite difficult to determine the trends that are really in demand and will become an integral part of online gambling for a long time. Many believe that VR and blockchain will significantly change the industry in the near future. But is that just it? Believing that trends should be “hype” or super tech, many industry experts overlook some obvious things that really matter. Secure gambling may not seem to be as interesting as cryptocurrencies, but in practice, it is much more relevant. Let’s dive deep into which industry trends could really come into play in 2023 and find out which ones really matter to online casinos and betting shops.
#1 – Cryptocurrencies
Cryptocurrencies, such as BTC, LTC, ETH, can really complement fiat money and even potentially replace it in the field of gambling. The main advantage of cryptocurrencies is anonymity: crypto payments are impossible to trace, which makes them ideal for users who want to remain undetected on the network. While this represents a significant step towards better data protection, it does lead the gambling industry into potential problems. The KYC obligation means that online casinos and bookmakers are required to collect certain customer info both to protect them and to prevent fraud. This requirement goes against the anonymity that cryptocurrencies provide.
#2 – Virtual and Augmented Reality
Ten years ago, most players were happy when just making bets online or playing their favorite gambling games from the comfort of their homes. However, expectations from the industry have risen significantly since then. The same refers to the quality of mobile casino and betting apps.
Thus, Facebook has announced the creation of the Metaverse and has brought even more attention to VR/AR. The company continues to promote more immersive gaming. Some online casinos from CasinoLuck already offer VR products. This puts user experience to a new level and makes it possible to enjoy gambling to the max.
#3 – Esports Betting
Esports betting is a new challenge for bookmakers. While eSports betting has become one of the main online gambling trends this year, some people are skeptical that eSports betting will continue to grow in 2023. Betting on online games like FIFA may have been popular during the pandemic, but MOBs like DOTA 2 haven’t enjoyed significant success. According to experts, this suggests that esports betting was just a kind of replacement for betting on traditional sports in a difficult time from an epidemiological point of view.
Many suggest that bettors are less comfortable betting on esports as they are suspicious of the integrity of games played on computers. This may change as the level of awareness among bookmakers’ customers increases. In any case, users can be sure of the fairness of eSports betting no less than betting on classic sports, which continues to face numerous corruption scandals.
#4 – Smart Devices
Smartwatches are becoming widely used for a variety of purposes, whether it’s fitness tracking, messaging, or gaming. Modern gadgets are also becoming extremely powerful in terms of stuffing. Therefore, it is no wonder that a new class of devices is finding more and more use in the gambling industry. For example, providers such as Playtech already offer versions of slots for Apple Watches.
The benefits for gambling operators are obvious. A smartwatch that is almost constantly with a person, which means that the likelihood that a user will gamble in various life situations becomes higher. The design of modern smart devices also makes the gaming experience more convenient than on mobile phones. Gamblers see only the information they need to play, without being distracted by a large number of additional buttons.
On the other hand, smart device gambling apps are a niche product, and gamblers will most probably access online casinos and betting sites from desktop computers or their phones. In addition, with so many native operating systems of gadget manufacturers, in addition to watchOS and WearOS, it is difficult for gambling operators to develop solutions that are responsive on all the gadgets.
#5 – Safe Gambling
Regulations aimed at ensuring the safety of players in different regions of the world continue to come into force. Thus, instead of waiting for new laws to be approved and modernizing their products in accordance with them, gambling operators are taking a more active and profitable position in terms of integrating player safety technologies at all stages of the product development process.
In 2023, responsible operators must go beyond legal requirements. Many online casinos already use pop-ups to alert users when they have been playing for an extended period of time, while others encourage players to set their own deposit limits.
#6 – Collaboration With Large Entertainment Companies
One of the key online gambling trends that are gaining momentum is the emergence of proprietary solutions from well-known entertainment companies. For example:
- Netflix has already launched games featuring its movies and series, which could indicate the possibility of casino-themed slots in the future;
- Disney is exploring partnerships with third parties for sports betting deals;
- Amazon may also follow suit – having recently started offering live football matches, the company may soon offer to bet on them.
This will significantly diversify the gambling experience and boost the number of games available on the market.
#7 – US-Friendly Gambling
Could 2023 be the year online gambling takes off in the US? The answer is obvious: more and more states in the country are legalizing betting, opening up new markets for operators. Until recently, fantasy games have acted as an alternative to classic bookmakers in the US, offering Americans a more “soft” way to gamble. However, it is expected that the gambling situation will become smoother very soon.
Capitalizing on Emerging Trends
As soon as a new online gambling trend emerges, it is important to capitalize on such novelties as much as possible. This means that it is necessary to evaluate in detail how each innovation can be implemented so that it makes sense for end-users and is really useful and in demand.