The iGaming sector, estimated to be worth $300 billion, is flourishing more than ever. In fact, the industry’s ability to influence and advance technological innovation is more impressive than its sheer size. For years, online gaming has been steadily expanding. It’s only becoming more and more obvious that iGaming is a force to be reckoned with with each passing year. And if you’re considering adding some iGaming offers to your advertising portfolio, I have this to say: It’s time to gain more knowledge about this expanding sector. Let’s dig deep into the statistics that demonstrate how much opportunity is in store for you. Without further ado, let’s analyze the eye-popping iGaming industry statistics for 2023.
Regulations to be aware of
iGaming’s legality is a tricky subject. Legislators are constantly debating how much of it should be legalized and which practices should be outlawed. A useful illustration of that is a comparison of the US and UK legal systems. Online gambling became “illegal” in America in 2011, after the Supreme Court ruled that each state is free to decide whether or not the Wire Act applies to online gambling. Contrarily, as of 2018, only a select few states permitted sports betting. Meanwhile, gambling has been legal in England since 1960, when the laws were updated in 2005. These laws govern online sportsbooks, Casino software, and poker rooms, allowing nearly all forms of gambling for those over the age of 18.
We’re dealing with a sizable industry that is becoming more powerful as more people get involved in online entertainment. In fact, the pace is incredible given that the industry’s value was about $100 billion lower just a year ago. The key to understanding how to capitalize on iGaming’s advantages is to ask—or, more importantly, to provide an answer to—the question of how it managed to become so large.
technological development
By utilizing cutting-edge innovations like virtual reality and machine learning, the multibillion-dollar gaming industry has become highly inventive and never sleeps. Every improvement contributes to the industry’s strength. Cloud computing technology? Cloud computing technologies are used by operators to manage and store player information while also enhancing operational effectiveness. Reality augmentation Players can immerse themselves in the game’s atmosphere and get the sense that they are in a real casino. The same is true for graphics improvements that merely increase the appeal of games. iGaming advances alongside technology in every direction.
Blockchain
The process of planning virtual events like tournaments has become much simpler thanks to blockchain technology. Blockchain eliminates the need for multiple resources for managing teams, prize pools, and event venues by enabling the ability to track and verify who has received the rewards for their matches or competition wins. Another benefit of blockchain is that it allows for safe user-to-user transactions. Additionally, it can automatically monitor data from any network where it is used.
Statistics about the online gambling industry
Gaming has been the focus of numerous case studies and tests because it is one of the most significant entertainment sectors. So, there are a tonne of iGaming statistics available online. And a lot more people will soon play games of some kind as a result of the expanding online population and rising levels of digital literacy. The expansion of the sector is the one trend that can be taken for granted in this context. And it’s interesting to consider iGaming in terms of statistics, particularly when looking at a timeline of recent years.
most popular games
What is popular right now won’t remain at the top forever, just like in all industries. But keeping track of which games people enjoy playing the most is crucial information that no savvy advertiser should ignore. The most popular games when it comes to online gambling are exactly the same as those that are played online the most. Slot machines, for instance, rank highly because they are easy to play, have a lot of fun, or both. The two most played online slots are Mega Moolah, which had a payout record of €18 billion, and Starburst, which has a 22% hit probability. Just like in real-world casinos, games like poker, blackjack, and roulette are popular worldwide online.
in the recent past
The year 2020 wasn’t easy. As a result of lockdowns, many industries suffered significant losses, including brick-and-mortar gambling, whose global revenue fell by almost $100 billion. The opposite was true for iGaming, with global revenues increasing to almost $60 billion in 2020 during COVID-19. Many social opportunities were lost as a result of the severe pandemic restrictions. That’s most likely the reason why so many of us turned to online gaming for entertainment. Back then, casino games were the main drivers of industry expansion. The global iGaming market grew by nearly 17% in 2020 as a result of both rising iGaming revenue and declining land-based revenue. Within the following 12 months, iGaming revenue increased significantly, reaching just over $72B. How did that come about? primarily because
The gambling industry in 2023: what already was and what is to come
iGaming is here to stay, and at this point, there is no need for evidence to back up this assertion. Even though the year is only halfway over, a lot has already happened in the iGaming industry. The entertainment industry is greatly influenced by iGaming, and the size of the sector is impressive. Let me remind you that there are approximately 3 billion gamers worldwide. The age range of this audience, which makes up nearly 38% of it, is 18 to 34. There are about 2000 online casinos, with the best ones bringing in more than $10 billion annually. Flutter Stars Group ($5.2 billion), GVC Holdings ($4 billion), and Bet365 ($3.5 billion) are the top three market players. It’s not shocking that 96%
Conclusion
iGaming is a highly competitive industry that moves quickly and has large, alluring budgets. With such an addictive,unt of opportunity spread out before them, it would be difficult for a savvy marketer to remain unaffected by stretched out. So, if you’re considering starting your own iGaming company, just consider those sizable numbers and keep in mind that they are expanding. Don’t let these sizable profits slip by, and keep in mind that you have lots of excellent strategies at your disposal to make the journey more comfortable. Try them out, and be sure to monitor and take notes on the data.
