Growing verticals and Online Casino trends
As we enter a new year, many might wonder what 2022 and the coming years hold for casino platforms and solutions. Maintaining and continuing to work relentlessly on fine-tuning our outstanding casino and sports betting platform, the professional Uplatform team knows more than a thing or two when it comes to casinos and the world of iGaming. So we are delighted to share our expertise on what we see as the current and upcoming trends that we believe are impacting the growth of the casino gaming sector.
The Online transformation
In recent years, there have been significant changes in the gambling industry. The most significant segment has been the development of online casino gaming, which has transformed how gamblers enjoy their favorite casino games today.
It would be an understatement to say that the COVID-19 pandemic has changed the world. In less than a year since the virus first appeared, it has disrupted people's lives all over the world. Social distancing guidelines have led to a shift in living a more online existence, both personally and professionally; the pandemic has changed how we work, shop, learn, communicate, and entertain ourselves. Reports show that 4.66 billion people worldwide use the internet in January 2021, up 316 million (7.3 percent) from the previous year's same month. And, more than in most industries, the rise in the number of people playing at online casinos has accelerated in tandem with this online increase.
Live Casino evolution
Rapid advancement of technology, restrictions of movement making it difficult to visit land-based, and the changes in how we go about our daily lives have contributed to the speed of this online casino evolution. In 2023, the global online gambling market is expected to be worth more than $92.9 billion USD. The market is currently worth nearly 59 billion US dollars, and it is expected to double in the coming years.
The increased interest in online casinos appears to be more than just a passing trend. People are engaging in more entertainment that can be accessed conveniently from anywhere. And we are seeing that Live games are one of the big winners in this aspect. With fast-speed internet, Live gaming can be enjoyed from the comfort of any location. We at Uplatform highlighted a couple of explanations for this expansion. Live gaming delivers a highly entertaining gaming format, even though you are playing virtually; the HD quality gaming experience bridges the gap between real life and the vital world. Providing a life-like experience for those who miss being present at a traditional land-based casino. The other is the industry's development and expansion of products, with the quality of games on offer quite incredible. Live gaming is an exciting and socially engaging playing experience for everyone, not just for experienced casino players but even newcomers.
Kate - Head of Games at Uplatform, shares:“So far, these two reasons – growing player appetite for Live Games and the emerging amount of such content and choice have developed this vertical noticeably during the past few years. It’s amazing to witness the development of the Live Games niche – finally, we can see emerging competition in this sector, regardless of quite a larger cost involved, when compared with RNG game development."
King of casino games - Remember the classics?
Skill-based gaming has been a hot topic in the iGaming industry, and many developers are producing a wide range of games for the online casino market. Is there, however, a change in the casino guard when it comes to slots? Let us take a bit more of a close look to see who is on top.
The UK Gambling Commission reports that nearly half of all players in the UK are between the ages of 45 and 54, and in Canada, the 18-39 age group accounts for roughly 70% of online gamblers. From region to region, the demography of players is changing; that’s why the trends in games are so different. From one side, new players - millennials and zoomers have grown up during a time when video games have exploded in popularity, interactivity, and complexity. Let's not forget that these generations have also grown up playing a variety of challenging, multi-level, and skill-based games on their smartphones. This leads to the increasing popularity of skill-based slots, slots with quest elements, and new features that are more appealing to new players.
From the other side, we can see that the classic themed slots are still in leading positions, which is explained by a large group of consistent players who are more conservative in their betting choices. That's why we can see the rapidly increasing amount of classic-themed slots - usually with classical mechanics and rarely combined with new mechanics and features.
Don't wait for a crisis to diversify your portfolio
When it comes to casinos, diversification is also a trend. To widen the playing audience and stay attractive to different types of players, operators are diversifying their portfolio with a variety of providers (global and locally popular), different mechanics, bonuses, and iGaming activities, etc.
Diversification is a recent trend, and something Uplatform is very familiar with. Our team's continued strategic diversification of our entire content has proven profitable for our partners during the pandemic. And we're not just talking about our Casino games collection, which includes over 16500 slots from 200+ leading providers.
Maria, the Head of Marketing at Uplatform, says:“Betting makes up 42.5 per cent of all online gambling activities, and its CAGR is expected to grow at a more-than-healthy 10.1% from now until 2028. Therefore, it’s easy to see why it’s becoming increasingly important for casino operators to add a sports betting option on their site to complement their casino games. And our Sportsbook with the biggest sports and events coverage is a great opportunity for online casinos to diversify their business and receive full advantage of the online format.”
Our entire offering - massive gaming and sportsbook range from Esports, virtual sports, TOTO, and Non-sporting betting; is thoroughly well-constructed, incredibly diverse, providing engaging content that achieves maximum results and attracts every possible player.
Emerging Trends Transforming Traditions
People have been transacting and interacting for a very long time, and this is not going to change. However, the way we go about these things has changed, and two casino trends have helped iGaming to forge ahead of many industries. It is the recognition and adoption of cryptocurrencies and the advancements in smartphone gaming content and betting accessibility are two that provide great convenience to a fast-growing digital generation of people. Mobile phones are no longer just for communication; they are also for entertainment and being able to be entertained all the time. While opinions may differ on its influence and future of cryptos, there is no doubt that its widespread global acceptance and appeal is growing and unlikely to fade anytime soon.
A Glowing future
The numbers for growth indicated in the majority of iGaming reports are very vibrant and favorable for the industry. And, given the rapidity with which the market has grown, if you consider the rate at which technology is evolving and developing iGaming trends, it is very conceivable that the market's true potential is significantly higher. Which makes the future of online gaming an extremely exciting prospect. Operators will need to make strategic decisions for their businesses over the coming years. Adapting to and responding to digital trends and content demands will mean the difference between staying ahead of the pack and falling behind in a competitive and growing landscape.
Don't get left behind. Give your business the advantage it needs to grow and thrive. For more iGaming industry insights and information on how to capitalize on taking your sportsbetting or casino enterprise to incredible new heights of success. Contact the Uplatfrom team today.
