Since the early days of the Internet, iGaming has consistently been one of the biggest and most lucrative industries. The need for iGaming businesses to adapt to the constantly changing trends in this cutthroat industry is greater as constant innovation keeps the sector evolving at an unheard-of rate. Every company operating in the iGaming sphere must keep up with the pace or perish, including casinos, sportsbooks, game developers, brands, marketers, and agencies. The global market value of the industry was €45.5 billion ($53.7 billion) in 2019 and is expected to increase 11.5% annually from 2020 to 2027.
It’s all about competing fiercely to grow and maintain market share, which requires adjusting to the shifting trends in the industry. That is very evident in the European iGaming market, where trends are constantly developing and businesses that don’t keep up with the times will be left behind. And before we get started, this video will walk you through various subjects and occasions that are currently trending in the iGaming sector.
Current Issues in the iGaming Sector
Let’s now examine some of the trends in online gambling and Casino api for 2020 that have so far generated the most discussion in the sector.
The Ascent of Esports Betting
We already knew how quickly esports was becoming a “real” sport on a global scale. Additionally, while COVID-19 shattered the esports live event calendar, the pandemic situation has increased esports’ visibility and viability as a legitimate sport for wagering.
Particularly in the wake of the abrupt cancellation of sporting events during the initial outbreak, it drew in a completely new demographic to the sport.
There has never been more interest in esports as a spectator sport or as a competitive sport.
For instance, the League of Legends European Championship this year saw viewership records set during a highly anticipated regular season match between Fnatic and G2 Esports. The League of Legends European Championship reports that the match between the eventual champions received the highest viewership of any regular season game ever.
The year 2020 served as an example of how competitive esports filled a glaring void during the pandemic. These esports leagues adopted a fully online medium at the right time, enabling them to not only survive but also thrive in a trying circumstance.
After all, eSports don’t require 11 men on a side fighting for control of the ball on a field.
Economic Recession
The world economy was subjected to the worst recession since World War II as a result of COVID-19’s economic assault, and it appears that things are only going to get worse before they improve. Fortunately for businesses in the industry, even though most consumers still view gambling as a discretionary expense, it has shown to be a resilient, if not recession-proof, industry.
Betting shop closures
The new standard is social estrangement. Additionally, customers will naturally be expected to avoid visiting physical betting shops to place bets or engage in gambling as lockdowns and quarantines continue in the upcoming months. The number of permanent closures has significantly increased as a result. Smaller physical chains will struggle to survive such uncertain times, even if some do decide to reopen.
The Resumption of Major Sporting Events
Up until recently, the majority of important sporting competitions and leagues had been abruptly ended or suspended. The National Basketball Association, Major League Baseball, the National Hockey League, the German Bundesliga, Spain’s La Liga, and Italy’s Serie A, to name a few, have all since resumed play in the major leagues of football, basketball, baseball, and hockey.
The Change to an Older, Fresher Demographic
Due to the pandemic, physical casinos have also had to close, but this has also resulted in a significant rise in online gambling for the hordes of displaced patrons. Additionally, everyone has been forced to experiment with new technology and pick up new digital skills due to state-imposed lockdowns and curfews, even the older age groups. Due to the temporary closure of physical casinos and sportsbooks, this includes learning how to gamble using mobile apps and other technology.
The opportunity to fine-tune their targeting strategies for this mass exodus of customers and their unprecedented interest in iGaming has been presented to iGaming brands as a result.
The opportunity to fine-tune their targeting strategies for this mass exodus of customers and their unprecedented interest in iGaming has been presented to iGaming brands as a result.
One thing is for certain: trends will continue to come and go in the blink of an eye, and if iGaming marketers and operators want to stay relevant to the general public, they will need to make adjustments to fit them.
That brings up the following issue: What causes topics to become popular in the first place? What considerations ought iGaming brands and marketers to make when utilising such popular content?
How will the content trend emerge?
In order for trending content to be worthwhile, the topic must be able to give your content a significant enough short-term boost. Three things are essential to producing trending content. To start, you need plenty of time to produce pertinent, excellent content on a hot topic. The next requirement is sufficient resources for content promotion. Finally, as the subject continues to trend, you benefit from the new audience that has joined for the content itself.
In terms of trending topics, time is of the essence. The problem is that, as the graph above illustrates, not all market sectors exhibit the same longevity of trending topics. Some industries continue to be popular for a longer period of time than others. For instance, sports and fitness topics have a shorter lifespan than personal finance and travel topics, respectively.
Just because iGaming businesses, like sportsbooks, have an immediate need to engage with trending sports topics doesn’t mean they shouldn’t. For instance, the NBA Playoffs have resumed and are on the verge of reaching a fever pitch as the NBA Finals, basketball’s grand finale, draw closer. Sportsbooks can take advantage of this momentum to offer helpful and pertinent information as the series itself approaches.
Just because iGaming businesses, like sportsbooks, have an immediate need to engage with trending sports topics doesn’t mean they shouldn’t. For instance, the NBA Playoffs have resumed and are on the verge of reaching a fever pitch as the NBA Finals, basketball’s grand finale, draw closer. Sportsbooks can take advantage of this momentum to offer helpful and pertinent information as the series itself approaches.
The key is to time it right.
Just because iGaming businesses, like sportsbooks, have an immediate need to engage with trending sports topics doesn’t mean they shouldn’t. For instance, the NBA Playoffs have resumed and are on the verge of reaching a fever pitch as the NBA Finals, basketball’s grand finale, draw closer. Sportsbooks can take advantage of this momentum to offer helpful and pertinent information as the series itself approaches.
