The iGaming industry is developing rapidly thanks to AR and VR technologies. Virtual Reality, new laws, better technologies, and the pandemic: what is influencing the market, and what are the trends?
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More and More Companies are Flooding the Market
The iGaming industry is growing rapidly, and many companies want to take advantage of it. In recent years, some corporations have actually made it to the top and are now making billions.
Also listed on the stock exchange are global players such as Evolution Gaming or NetEnt, who are constantly bringing new games of chance onto the market.
Statistics also show that the competition is increasing: between 2019 and 2026, industry growth of 7.91% per year is expected.
According to experts, the market volume amounted to more than 66 billion dollars at the end of 2020. By 2023 we will probably see a market volume of almost 93 billion euros.
From these numbers, it is unmistakably clear that the iGaming industry is attracting the attention of many entrepreneurs.
Every year new people join and want to try their luck with gambling. This raises the question of who will really be successful in the end – and why.
To do this, it is important to clarify which competitive advantages companies have, what sets a company apart from others and how players decide which products to choose.
Successful companies score with professionalism, optimal quality, and the lowest possible price. Even years of experience don’t hurt, as can be seen from some large corporations that have been in business for a long time.
Nowadays, companies need an effective and future-oriented strategy and can’t afford to miss any news
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Pandemic Brought More Players Onto the Scene
While the pandemic will hopefully end at some point, it has had a significant impact on the gambling industry.
People were spending significantly more time at home than before and were constantly surfing the internet.
Gambling sites were in the right place at the right time and took advantage of this. As a result, online casinos and sportsbooks are now the driving force in the gambling industry.
Digital companies are clearly in the lead here and have the opportunity to further boost their sales figures in the coming years.
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Trends in the iGaming Industry
Around 70% of corporate spending is expected to go into the development of advanced technology in the future.
AR and VR technologies and artificial intelligence are clearly at the forefront of technological developments.
Both virtual reality and augmented reality applications are also becoming more and more complex and have a very positive effect on the gaming experience.
Smart algorithms are also used, which enable an uncomplicated and personalized gaming experience.
Players are offered more and more gambling options from complex live casino games to various bonus promotions.
Everyone knows each other in the iGaming industry, successful software manufacturers work together with well-known casinos or develop even better games with other top-notch software developers.