iGaming Industry Predictions for 2024
No industry is as attuned to advancements as the iGaming industry, technological or otherwise. As with other years, 2024 promises to be a great year for online gamblers as top providers like Betway embrace more trends poised to grow the industry further. Let’s take a look at some of the changes and developments experts predict could define iGaming this year.
AI and Personalization
AI has changed not only how players interact with online games but also how developers and providers package online gaming experiences. The most notable of these changes is personalization. When players log onto a site like Betway to play slot games, poker, blackjack, and other games, they create a trail of data. Industry experts have found a way to use this data to tailor experiences to individual players.
In 2024 and beyond, we will see this technology evolve beyond its current capabilities. Tech experts are currently working on ways to use more sophisticated algorithms to push personalization beyond generic homepage configurations and game recommendations. The goal is to read a player’s style and gaming history to provide more personalized in-game experiences. In addition to personalized bonuses and promotions, players could also enjoy adaptable games that adjust to their playing style in real-time.
Expansion into New Markets
The spillover of the iGaming industry into other markets is inevitable and has been for several years. Over the last few years, we have seen the sector merge with sports betting, video gaming, traditional sports, pop culture (through celebrity endorsement deals), and more.
The market this year is poised to expand, first, geographically. The growing legalization and regulation of online gambling has opened up new markets for the iGaming industry, including Africa, Asia, and Latin America. The sector will tap into these new territories, adjusting its strategies and policies along the way to meet the unique needs of these new demographics. The industry is also looking forward to the wave of strategic partnerships and innovation that will come from exploring these new markets.
Technological Advancements
Technology has always been at the helm of development in the iGaming industry, and this year is no different. The focus the last three or so years has been on transforming player experiences on platforms like Betway, so that players get more than the online game they signed up to play. Advancements like AR and VR have powered this move and will continue to do so in 2024. This year, we can expect the seamless integration of these two technologies in particular, with a keen focus on the Metaverse and the ultimate goal of making online gambling more immersive than ever. As the Metaverse finds stability and mainstream acceptance, Metaverse casinos will become a near reality.
The dominance of Mobile Gaming
The most popular and valuable sector of the iGaming market is expected not only to maintain but also to grow its dominance. This growth is positioned perfectly to take advantage of the 5G internet technological trend that is set to revolutionize online experiences across the globe. Over the year, we will see mobile gaming experiences become more streamlined, deliver faster upload and download speeds, and tap into the power of cloud gaming. Mobile gaming is about to become indistinguishable from PC gaming.
Sustainability and Responsible Operation
Climate change has inspired industries across the globe to check their processes and materials for eco-friendliness. As the world moves towards more sustainable solutions, so does the iGaming industry. This year, we can expect to see the issue of responsible and sustainable operation take center stage in the market, with stakeholders turning to renewable energy and other solutions. The policies will likely span different areas of the industry, from app and platform development to data collection and logistics. Over the year, we will see the industry become a more ethical and sustainable space.
Industry Regulations and Online Security
Any growth in the multi-billion-dollar iGaming industry is almost always accompanied by an increased threat of cyberattacks. So naturally, the industry will also take further steps to protect players and user data, including incorporating more advanced KYC (Know Your Customer) protocols, data protection systems, and anti-fraud measures. Responsible gambling concerns will also take center stage.
Wrapping Up
2024 holds a lot of promise for the iGaming industry, which has always been quick to jump on new developments. Many of the changes we will see this year will focus on technology, specifically 5G internet, AI, and the Metaverse, regulations, and sustainable and responsible gaming. By the end of the year, the sector will likely be more sustainable, virtual, and personalized than ever before.