The iGaming industry has grown significantly in recent years. Following the unprecedented boom in users during the COVID-19 lockdown, a global recession and increasing regulation have changed the trajectory of the industry. In such a shifting landscape, what trends can we expect to see in 2023?
Cryptocurrency is often seen as a buzzword, and with such a volatile perception it’s tricky to incorporate or even predict how it will feed into future business. Despite this, more players than ever have adopted these currencies due to their accessibility, speed, and anonymity. Many platforms already accept multiple currencies, and it will be unavoidable not to integrate these different payment types into the iGaming experience. Although Blockchain tech could improve the safety and security of the industry there will still be challenges in mitigating and monitoring the risk of fraud in such an unregulated space. Whether you view it as a fad or future currency, it has customer buy-in and will be a necessity in the iGaming experience for 2023.
It can be fun imagining a whole new universe (or metaverse if you will) where all a customer’s casino and iGaming favourites live. A place that’s tangible but still has distance from normal life. Virtual and Augmented reality seem to be the perfect experiences for the iGaming consumers who enjoy table games or even the excitement of slots. But will we see this coming to life this year? The short answer: It’s unlikely. There are a few tech companies playing around with sandbox experiences of this type, but the reality is it’s not a widely accessible space and we have very little knowledge about how customers interact with tech of this kind. So yes, it’s a dream we’d all like to see come to life, but it won’t happen soon.
Since the boom of desktop users during the COVID-19 pandemic has slowed, the prevalence of mobile devices as the preferred iGaming platform has increased. And why wouldn’t it? As life has mostly returned to normal, we want instant access to our favourite apps, from YouTube to iGaming wherever we are. Pair this with new regulations in markets allowing iGaming games in app stores, it’s now easier than ever to reach customers through native applications. As more and more players turn to mobile gaming as a convenient and accessible way to enjoy their favourite entertainment, we should expect an increase in the amount of people playing on smartphones and tablets.
More focus on the customer experience
Users are demanding high-quality experiences from both tech and marketing. With constant exposure to other industry platforms (Spotify, Netflix, Amazon etc.) that create personalized experiences, consumers now expect tailored content and experiences. It’s evident that one to one bespoke marketing has become a necessity not just a nice to have when attracting and keeping customers.
Along with this, increasing regulations make creating smooth and enjoyable experiences for players more challenging. Processes like verification need increased attention to ensure that users are not deterred and have a great experience every time. The demand, along with the increased hurdles of regulations mean that this year iGaming brands will need to focus their efforts on the delivery of bespoke content and seamless experiences.
The regulatory nature of the iGaming industry means that differentiation is challenging. Being able to implement and action new insights and influence change quickly is critical in order to be competitive. This year there will be a projected move toward componentised, self-service tech. Having pre-set UI and technology empowers more decision makers and therefore allows for the quicker and easier implementation of low-risk changes and adaptations. Moving towards systems that are easily scalable and agnostic, will be an industry-wide trend that iGaming businesses cannot afford not to implement in 2023.
From the way we work to the way we serve our customers, the iGaming industry is constantly evolving and changing. As it continues to grow, we can expect to see even more innovative technologies emerge that will influence businesses and provide players with new and exciting ways to enjoy their favourite games.
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