With the global online gambling industry expected to grow by up to $94 billion in 2024, staying up to date with the new regulations and cutting-edge technology is crucial. To help you stay ahead of the curve, we’ve compiled a list of the ten most important upcoming trends that are set to revolutionize the iGaming industry as we know it.
1. Virtual and Augmented Reality Gaming
In 2024, VR and AR technologies are set to revolutionize the online gambling industry, providing players with immersive and interactive experiences like never before.
Virtual Reality promises lifelike virtual casino environments, allowing players to engage with live dealers, games, and fellow players in shared spaces, creating a stronger sense of community and social interaction. Innovative VR casino games and Metaverse casinos will reshape the online gambling experience, attracting a broader audience and setting new standards for player engagement.
Augmented Reality will offer players more personalized experiences, with access to realistic virtual casinos and customized gaming settings. AR's technology will also enhance marketing strategies, improve user interfaces, and provide real-time data overlays for sports betting.
Both VR and AR technologies are almost certainly going to redefine player engagement, making online gambling more immersive and exciting with innovative features. Expect things like being able to spin the roulette wheel in VR or experiencing AR-enhanced betting on live sports events.
2. Blockchain and Cryptocurrency
Blockchain technology and cryptocurrencies will continue to gain traction within the online gambling industry throughout 2024. The use of blockchain provides secure and transparent transactions, benefiting both operators and players, making it a fairly safe bet for everyone involved.
Cryptocurrencies like Bitcoin and Ethereum offer fast and cost-effective deposits and withdrawals. They also address the issue of anonymity, as players can gamble without disclosing personal information. At the same time, Blockchain's transparent ledger ensures fairness and prevents fraud.
As more casinos embrace cryptocurrency, players can enjoy a wider range of payment options and enhanced security.
3. Better Personalization With AI and Machine Learning
AI and machine learning technologies are already changing the landscape of online gambling. In 2024, these technologies will provide even better, highly personalized, experiences. Casino operators will continue to use AI to analyze player behavior, predict preferences, and offer customized game recommendations and promotions.
You can also expect to see AI-powered chatbots offering instant, highly contextual customer support. On top of that, machine learning algorithms will also get better at helping to detect early signs of problem gambling and support the use of responsible gaming measures.
All in all, these advancements are expected to enhance player engagement, satisfaction, and loyalty by tailoring the gambling experience to individual preferences and needs.
4. Regulatory Changes and Stricter Responsible Gaming Measures
The online gambling industry will continue to grapple with evolving regulations in 2024. Governments around the world are taking a closer look at the industry, leading to stricter compliance requirements.
Expect to see increased efforts to combat problem gambling, with operators implementing advanced tools for self-exclusion, spending limits, and more. We may also see advertising restrictions intensify as well, especially in the European market.
This trend towards stricter regulation will challenge operators to adapt quickly, prioritize player safety, and comply with changing regulations.
5. More Mobile-First Gambling
According to current trends, mobile gaming is poised to maintain its dominance until 2024. More and more players are preferring the convenience of gambling on their smartphones. To provide a seamless and responsive gaming experience, online casinos are optimizing their mobile apps and websites.
The trend toward mobile-first design is driving innovation in user interface and game selection, ensuring that players can enjoy their favorite games on the go. Mobile apps will also introduce new features and functionalities to enhance the overall gaming experience.
6. More Live Dealer Gaming Options
Live dealer games serve as a bridge between land-based casinos and online gambling. By providing real-time interaction with live dealers, players can now enjoy the social aspect of online gambling, which used to be missing. Thanks to the increasingly capable technologies, the presence of live dealer gaming options is bound to continue growing and evolving in 2024.
Popular games such as blackjack, roulette, and poker are already included in the live dealer games category, and more unique and innovative game formats are expected to be added soon, so there’s a lot to look forward to.
If you enjoy these kinds of games, it’s a good idea to get familiar with live dealer casinos and what they can offer you in terms of bonuses and potential winnings. This will help you stay ahead of the curve in the coming year.
7. eSports Betting and Virtual Sports
The popularity of online gambling has been steadily increasing in recent years, particularly with the rise of eSports and virtual sports betting. This trajectory is expected to continue in 2024.
With eSports betting, players can wager on the outcomes of competitive video game tournaments. As the eSports industry continues to grow, the market for betting on these events is also expected to expand.
The same trend can be observed for virtual sports which provide betting opportunities on simulated events, such as virtual horse racing and soccer matches, round the clock. These virtual sports create a quick and immersive betting experience, which attracts a wide range of players.
In 2024, the betting options, tournaments, and betting markets related to eSports and virtual sports are expected to grow and diversify, providing an exciting and alternative to traditional sports betting.
8. More Variety for Skill-Based Gaming
In the coming year, online casinos will continue to introduce new skill-based game variants and tournaments, attracting a segment of players who enjoy the competitive aspect of gambling. Skill-based games like poker, blackjack, and even video slots have been steadily increasing in popularity in recent years, allowing players to showcase their abilities and knowledge beyond free spins.
Perhaps the most exciting part of this trend is that the rise of skill-based games aligns with younger generations’ preference for strategy. As such, it has great potential to bring more people into the online gambling community, thus broadening the overall player demographic.
9. Crypto-Focused Casinos
Crypto-focused casinos will continue to emerge in 2024, catering exclusively to cryptocurrency users. These platforms accept various cryptocurrencies for deposits and withdrawals and offer games specifically designed for crypto enthusiasts.
- World-renowned brand
- Massive selection of games
- Live games & sportsbook availability
- FIAT & Cryptos accepted
With blockchain technology enhancing security and transparency, these casinos will become increasingly popular among players who value privacy and the decentralized nature of cryptocurrencies.
Superstar musician Drake has already put his money on crypto becoming the future of online gambling, since becoming an official partner of Stake.com.
10. Social Gaming
Many online casinos have been improving the social capabilities of their platforms in recent years. With the advances in VR and AR gaming, as well as the general expectations from social media, expect to see more social elects being incorporated by your favorite casinos in 2024.
You’re likely to come across Improved chat rooms, live leaderboards, and new multiplayer options that have not only increased user engagement but also created new sources of revenue for online casinos.
Plenty to Get Excited About
To conclude, 2024 is expected to bring a lot of excitement to the iGaming industry. The regulatory changes and innovative technology on the horizon are sure to create new opportunities and challenges for both operators and enthusiasts alike.
As the industry continues to grow, it is crucial to keep up with the latest trends to give you the best possible chance of success. The future of iGaming is promising, and those who embrace change and innovation will reap the benefits.