The igaming industry touched $72.3 billion in 2021 and is expected to reach $131.4 billion by 2027 at a CAG of 9.96% during 2022-2027. Some of the main reasons behind the boost in the industry’s popularity are advanced iGaming platforms, increased smartphone adoption, and COVID-19. The iGaming platform providers are also not leaving any stones unturned to make it convenient for users to enjoy online betting or gaming from anywhere in the world.
iGaming platform providers like VeliServices, Digitain, SBTech, Bet Construct, Every Matrix, and FSB Technology, among others, offer cutting-edge features. From using AI, Cloud, and IoT to offering multiple third-party affiliate tools, the modern-day iGaming platforms ensure that new entrants in the market have a sustainable and profitable online betting business.
Thanks to the zealous iGaming platform providers, the iGaming sector has shown a willingness to adopt the latest innovations at a breakneck pace. Developers and operators are equally motivated to develop ways to lure in the latest crop of digital-first players.
So what is the future of iGaming platforms? What can we expect in 2022 and years beyond? How will innovations or technology trends disrupt the online betting and gaming industry? While it’s difficult to predict these in a rapidly evolving market like this, we can expect to see some trends in 2022 and beyond.
Make iGaming More Accessible With Cloud Gaming
It’s 2022, and cloud computing is undoubtedly a must for the sustained growth of iGaming platforms. Since cloud gaming offers a quick turnaround time for developers to launch new games, it’s the fuel required for the digital growth of the industry.
Having online casinos hosted in the cloud ensures that the platform offers reliable services and lesser downtime for the players. With the advent of 5G connectivity in the US, the loading speeds have also dramatically reduced, thus reducing frustration caused by high-latency mobile gaming.
One of the leading iGaming platform providers, VeliServices firmly believes that cloud gaming is the future of all online gaming including iGaming. The company has been working towards investing more in the cloud gaming market. The leading iGaming platform provider collaborated with third-party strategic partners in markets like Sportsbook, Lottery, and more. It allows them to offer customized iGaming platforms with powerful tools like an online cashier.
Use of Artificial Intelligence for Data Analytics
The eCommerce industry has proven time and again that AI tools, including predictive analytics and data modeling, can predict customers’ behavior and needs in real-time. Now, the online casino market is employing the same analytics technology to offer personalized experiences to online players.
The AI-based data analytics tools are used to improve data-driven business decisions and detect frauds as well. The iGaming platforms can analyze player behavior signals like player history, game preferences, and betting trends with this technology. The use of AI data analytics improves the creation of safe gaming environments for players and increases the overall platform’s operational effectiveness.
Augmented and Virtual Reality Will Gain Popularity
AR and VR are expected to bring about the most significant changes in the online iGaming market. Thanks to the growing adoption rate of smartphones and an uptick in smartphone gaming, AR/VR has been gaining popularity recently. iGaming platforms and providers hope to use these techs to transform the way players currently play massively.
The iGaming industry has already witnessed the rise of AR and VR to simulate the actual casino experience online for players. It has become a good and safe alternative to the conventional sit-in casino experience. Because of this benefit, numerous iGaming platforms and providers are implementing this technology to offer an immersive experience to players.
Big Data Will Play an Important Part
For the uninitiated, Big Data refers to the huge volume of information circulating online for the uninitiated. It analyzes, retrieves, and processes relevant information from this huge data bank. In the iGaming sector, the technology can be utilized to collect and store information like player preferences, in-game behavior, and interaction between various players. The Big Data also aids in finding and distinguishing key elements of the platform to ensure proper usage of the iGaming platform.
Rise of Crypto-casinos
In the era gone by, iGaming players faced slow payouts and had to bear the hefty fee associated with digital wallets, credit reimbursement, or bank transfer. However, cryptocurrency-based iGaming platforms offer anonymity, enhanced security, and faster payouts, which were not possible without blockchain technology. These benefits have led most iGaming providers to incorporate blockchain into their platforms.
AI, AR/VR, Crypto, and data analytics are just the tip of the iceberg at this point. We can expect more trends and technology innovations to find inroads in the iGaming sector.