2024 continues the gambling industry’s winning streak that has been going on for the past half-decade. According to expert projections, the traditional and igaming markets are poised for continued accelerated growth, with the latter expected to surpass $300 billion by 2029.
What is driving this growth? What new technologies or trends inform how online gamers interact with casino operators like Betway? Below, we review the top trends shaping the 2024 gambling market:
Mobile Gambling Is Maintaining Market Dominance
This should be no surprise, considering how mobile gambling has recently dominated the market. Since 2019, mobile gaming’s percentage share has risen from 70% to 90-94% in 2024. In line with this, top operators have been launching mobile apps and mobile-optimized platforms like betway to deliver players’ favorite casino games straight to their phones.
This dominance is expected to hold and grow in 2024 as internet speeds increase and mobile device proliferation grows. Indeed, more people will have access to mobile phones and faster internet speeds in 2024 than last year, so it’s hard to see this trend slowing down soon.
AR and VR Are Here to Stay
However, mobile phones are not the only things players are excited about in 2024.
While still niche interests, virtual reality (VR) and augmented reality (AR) technologies are making waves in the igaming industry. Both technologies provide more immersion and allow players to inhabit their favorite gaming worlds. With a VR headset, you don’t just play online poker. You enter a virtual casino, sit at a table, talk to other players’ avatars, and handle virtual cards.
The Asian igaming market is heralding VR casino tests, but experts believe the sector will become more mainstream soon. This is especially possible with AR and VR setups becoming more readily available and affordable.
Social Gaming Features Are Front and Center
The igaming industry as we know it today was born at a time when people could not access traditional brick-and-mortar casinos. And the online play-alone format was wildly successful.
So imagine the surprise for operators when players began to demand social features. After all the isolation of the past few years, players have discovered the need to interact with each other.
Social features are now at the top of the industry regarding earning potential. Operators that allow players to converse, compete, meet, and discuss with each other are more popular than their strictly online counterparts. Features driving this trend include:
1. Community forums
2. Virtual meet and greets
3. In-app chat rooms
4. Friend lists
5. Tournaments, leaderboards, and
6. Interactive live streams
Live dealer games have also gained popularity, accounting for 30% of all gameplay.
Operators Are Tapping into New and Exciting Markets
Meanwhile, top operators like Betway are expanding into new markets.
More and more countries are legalizing online gambling even as mobile phones and internet infrastructure become more available. The result is that operators are discovering new markets of players who enjoy and can now access online casino games.
Regions currently experiencing an online gambling boon include:
1. Asia
2. Latin America
3. Brazil
4. India
5. Africa
What Next for the Industry?
It all depends on how igaming industry stakeholders respond to these trends. In the past, operators have shown great initiative in adopting up-and-coming technologies, which has helped the industry remain relevant and grow. However, these 2024 trends present unique challenges.
For instance, providers like Betway must understand and cater to players’ cultural preferences in expanding into new markets. The Asian gambling audience prefers culturally significant titles, and African players love football. It all comes down to how operators will adapt to these industry changes.