How the iGaming Industry is Still Growing

The modern iGaming industry has come a long way since its humble beginnings during the mid-90s. The Free Trade and Processing Zone Act of 1994 in Barbuda and Antigua marked the beginning of wagering using real money. An online lottery service based in Europe took the top spot, and within 12 months, over 200 iGaming services popped up in Europe.

Over the last couple of decades, the iGaming industry went through some major remodeling. The online gaming industry is the latest in a long line of innovations and technological upgrades to affect the iGaming industry. The trend is still rising, with the computer gaming market recording a steady 10% YoY growth, with the total turnover breaching the $135 Billion mark in 2018.

iGaming revenue accounted for over $80 Billion, which helps bring the size of the industry into perspective. If the growth trend continues at the current pace, we might witness $100 Billion in iGaming revenue in the next couple of years. If you want to catch in on the action, Revpanda can help introduce your business to the right audience. Visit the website today to learn how.

Analyzing the Primary Reasons Driving Growth

1. The Global Rise of eCommerce

eCommerce businesses have, for long, been blamed for the poor performance of traditional brick-and-mortar stores. However, the reality is starkly different. Physical stores that adapted to the new business practices have fared well, even increasing overall revenue. In comparison, businesses that failed to innovate have drifted into oblivion. A similar fate is expected in the iGaming industry. However, its impact is quite subtle compared to conventional businesses.

2. The Influence of Mobile Gaming

With the rise of mobile technology, smartphones and tablets have taken over our lives. And this has impacted iGaming as we know it. Multiplayer games had already influenced the youth, and mobile gaming takes it a notch higher. The demand for mobile iGaming is rising 20% YoY, and video slots and legal card games are leading the way.

3. Live Casinos

Live casinos are a major driving force behind iGaming. With popular gaming studios upgrading their portfolio every year, the demand is only set to rise in the coming days. If you’re looking for the most reputed live casinos in your area, visit Casino Bee for the largest collection of operators near you.

4. The Rise of Technology

Technology, in general, has helped provide players with a holistic experience, urging them to spend more time playing. Improved graphics, soundtracks, gameplay, and features enhance the appeal of modern virtual casino games. Virtual reality is the next big step in this direction and is already being implemented to boost the demand for gaming. With the evolution of modern computers, Virtual Reality has come a long way since inception, and iGaming implementation could be a reality within the next decade. Although it is still too early to comment on the developments yet, a switch to VR would be a huge motivation to take up iGaming.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes