The iGaming industry has been one of the most eye-catching business sectors in terms of growth over the last couple of years.
The numbers involved in the industry are staggering. Over the past five years, iGaming developers have doubled their customer base , generating almost $100bn in revenue. The market should go beyond $61.5bn this year , and growth is projected to be 86% by 2028, resulting in a market worth an eye-watering $114.4bn.
Much of this is driven by the United States and China, although Europe and the United Kingdom are leading the way in certain sectors. However, the term iGaming feels ambiguous and can incorporate many different industries under a single umbrella. To help you pick through the numbers, we’ve provided a handy guide to the world of iGaming. What is iGaming?
The term iGaming is not to be confused with eSports; it is a standalone sector within the online gaming market. At a base level, iGaming is any online platform upon which a wager can be placed. That means online casinos, poker and such like, but also sportsbooks, which is a growing sector in North America . How Has It Grown So Quickly?
There are multiple reasons why the industry has grown quickly. The first is the technology upon which it is played; the last ten years have seen smartphones get faster and more powerful, meaning better user experiences . That also applies to tablets, offering big screens for the best online experience possible.
The onset of firstly 4G and now 5G has also helped. Online providers rely on people being able to play on the go, just as much as they play at home. That means a more stable connection is required, and developers can rely more on the connection as 5G rolls out worldwide.
That reliability and better tech mean they can also be more ambitious with their games. An online casino is now not just a selection of slot machines and digital games; it can be a live experience, too. Often, developers have real-life dealers handling the games, making the experience more personal and enjoyable.
However, […]
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