The iGaming industry expands year on year. By 2024 the smart money is on the industry worth totalling 87.5 billion in the US alone. This represents a growth of 8.75%. Worldwide, according to Juniper Research, the global industry will be worth $1 trillion USD by 2021. With the huge profits involved, lawmakers around the world can smell growth which always looks good at election time.
With this in mind, let’s take a deep dive into trends and predictions in the iGaming market. You can expect to see these developments when you play casino online games over the next few years.
Blockchain and Cryptocurrency
Although many governments are wary of cryptocurrency, recent developments are showing that they are getting set to embrace it. Wall Street banks are poised to issue their own coin, and so is Facebook. When you play online casino games in the future, you may well be buying cryptocurrency in the form of virtual chips. These chips will be purchased and exchanged for your local currency.
Various industries, including online gaming, are utilising the advantages of the blockchain with its verification, transparency, privacy, and speed. This offers players a way of keeping out of the limelight, which for many is essential.
For the high rollers and having security benefits are appealing. That said, the industry has to protect its reputation, especially from money laundering. Critics have cited that the anonymity crypto and the blockchain affords is the perfect way to wash dirty money.
As such, full anonymity is looking unlikely. That said, the other pros and now it is industry-backed will see crypto and blockchain options opening up soon.
VR and Live Casinos
A recent shift in demand is for VR and live casinos. This is relatively new, but the general consensus of opinion is that both VR and live casinos are very good at retaining players.
From day one of online casinos, the goal was to emulate a real casino experience. VR using holographic players and live casinos, where streaming in real-time facilitates remote gaming represents a major step in making online play, ‘real’.
VR in all gaming environments is touted as being real and bringing experiences alive. Expect to see a combination of live casinos and VR being used to make the consummate online gaming experience.
Opening of American Markets
America has traditionally not embraced online gaming like other countries. This is understandable if you consider the vested interests that exist from state to state. That said, American players tend to be creative and simply play overseas offerings.
As a result, American lawmakers across states are starting to relax laws to facilitate gaming. States such as Nevada, New Jersey, New York, Pennsylvania, Iowa, West Virginia, Rhode Island, and Indiana are allowing citizens to wager on sports. This sea change will spread to other states and soon, no doubt, other games.
Not so much a new trend but one that continues to improve is the rise of mobile casinos. Currently, slots are proving highly popular on mobile devices with many enjoying the convenience of being able to play on the go.
Over the next few years and despite fierce regulation, the market is set to expand.