The iGaming industry has become the mainstream of today’s world. People are constantly craving different verticals of the iGaming industry. The iGaming industry is the huge market which has various verticals such as fantasy sports, sports, betting, casino, lottery, and many more. The businesses and operators are also emphasizing investing in sports betting software to generate huge profits in their business. The sports betting industry is one of the profitable sectors of the iGaming industry. It is witnessing as the most spectacular growing sector that enhances the number of players in the market. As per the statistical records, the iGaming industry will reach to approx $100 billion by 2024. The statistics also show that the sports betting industry will grow by 8.33% CAGR by 2022.
Statistics of the iGaming Industry
- The global iGaming market is expected to be valued by more than 92.9 billion dollars by the end of 2023.
- According to GlobeNewswire, the sports betting market is anticipated to grow by 155.49 billion by the end of 2024.
- The transparency market research says that the iGaming market will reach $ 94 billion by the end of 2024.
- By 2025, the number of registered players in the iGaming market will rise by 12.5% of CAGR.
- As per the report of the American Gaming Association, revenue through the sports betting industry will rise by 86.2% yearly.
- The number of people involved in sports betting is more than any other sector of the iGaming industry.
- The users are ready to spend £135.20 per year in the sports betting industry.
- As per the statistical records, it has been anticipated that the iGaming industry offers better opportunities to the investors for their business growth.
Upcoming Trends Available in the iGaming Industry for your Business Growth
As with the increasing demand of the iGaming industry, there are several trends available in the iGaming market that could help your business to grow well. Here are some of the upcoming trends as follows:
Upcoming Scope of the Sports Betting Industry
Sports betting is considered the most popular upcoming trend of the iGaming industry. People are ready to spend most of their time in the industry. The recent legalization of sports betting also develops new opportunities for investors to start their sports betting business successfully. The legalization of sports betting in the US, UK, European countries has a positive impact on the iGaming market. Currently, the sports betting industry creates approx $ 150 billion in revenue with several opportunities for investment for the operators. It covers all major sports that can influence the users easily. Investors can easily expand their sports betting business globally as people from all over the world are engaged in the sports betting industry. Along with that many other businesses are also moving towards the sports betting business as investors found it the most convenient way to grow their business successfully. The sports betting platform not only covers all major sports but also provides opportunities for betting firms to generate huge revenue. The operators and investors just need to opt for the trusted sports betting solution providers and can build a customized platform as per their business needs. The operator can build an effective sports betting platform and can boost their business successfully.
Undeniable rise of Online Casinos
Along with the sports betting sector, the online casino is another profitable sector of the iGaming industry. It can also influence a large number of audience and is the big name in the iGaming industry. According to the statistics, the casino industry is expected to grow by $ 240 by 2022. The online casino industry in the USA reached more than $306.5 billion and 17% of the population in the UK are engaged in the casino industry. The operators and investors just need to find an ideal platform developer to offer a better experience to the users. The casino industry involves huge rewards and prize money that influence the targeted audience easily. The businesses can earn profits through the casino industry as it develops new opportunities in the market.
Future of Esports
Esports is another growing sector of the iGaming industry. It has a great upcoming future for operators and investors. It has a wide variety of games other than traditional games such as counter-strike, legends of the league, overwatch, CS: GO, and many more. The operators invest heavily in the esports industry and allow multiplayer games with great features to the users. Along with that, there are various brands available that sponsor esports betting platforms through different events and tournaments. Esports can be one of the sectors that can grow the business successfully.
Similar to the other trends discussed above, virtual reality can also play an important role in growing your business well. Various investors offer virtual reality experiences to their users to sustain in the competitive iGaming market. Virtual reality can help your business to influence the targeted market and generate huge revenue easily.
It is the recent technology introduced in the iGaming industry. Some operators implement 5G technology to offer a better gaming experience to the users. It helps businesses to develop better gaming platforms for the users that can allow them to offer engaging experiences to the audience.
Undoubtedly the iGaming industry is one of the growing sectors of the gaming industry. It has various verticals available that allow businesses to grow. The statistical records discussed above also shows the positive impact of the industry in the market. There are various trends available in the iGaming market that can not only entertain the audience but also offer better business opportunities to the operators and investors to grow. Thus to become successful in the igaming industry, opt for sports betting solutions providers and develop your business successfully.