2024 is going to be exciting for many reasons. One, it’s a leap year. Second, gambling is going to change – for better or not, it’s too soon to say. 2023 was a mixed bag of goods and not-so-goods – from Guardian’s ban on gambling advertisement to massive revenue jump to US$ 86.6 Billion.
This year’s iGaming trends make it very clear that it’s going to be more challenging and exciting for the iGaming industry.
According to the experts, 2024 is going to be THAT year for the entire iGaming realm, be it for sports betting or online casinos. So unless you’re planning an epic proposal on the 29 of February, this year will be all about the iGaming glow-up encompassing all the sub-territories.
Let’s explore how 2024 will play the magic trick on the iGaming industry.
iGaming Trends 2024 Report: Responsible Gambling, AI Revolution to Mobile-Friendly UX
Responsible Gambling Wins in 2024
Responsible gambling has always been the slogan for the iGaming industry, but in 2024, operators are going bullish on it. iGaming authorities around the world are coming up with new initiatives to drive awareness around safer and responsible gambling, starting with Safer Gambling Week in the UK in 2022.
Also, brands and operators are putting their money on AI technology to detect patterns in players that indicate addiction and initiate steps to stop them from falling prey to gambling addiction.
Another initiative took place in November 2023 when six private gambling operators in Brussels signed a Duty of Care Agreement under which they are obliged to develop a prevention policy to curb problematic and habit-forming gambling behavior, identify high-risk players, and prevent addiction using scientifically-proven methods.
On similar lines, the Gambling Commission in the UK launched the ‘Tell us anything confidentially’ tool in December 2023 to allow people to report malicious and suspicious activity in confidentiality.
These initiatives will be followed by more such actions taken by respective governments and authorities of countries where gambling is legal and are set to take place from early-to-mid 2024.
While such implementations can build a safer gambling environment for players, it is expected to decrease the Gross Gambling Yield for online operators by 8-14%.
Despite this, gambling operators are advised to stay tuned with these regulations to avoid hefty fines or worse, losing their entire business to authorities.
More Inclusive iGaming Platforms
iGaming platforms are expected to go all out in 2024 in terms of accessibility. Many brands and operators are planning to break the traditional barriers and use technology to make their iGaming platforms more accessible to all types of players and geographies.
Therefore, the trend is leaning towards introducing advanced accessibility features like voice-activated commands, voice-activated bets, etc. to make their iGaming platform user-friendly and inclusive to all types of people, offering greater control to players over their gambling experience.
Some of the key accessibility enhancements we expect to see in iGaming platforms in 2024 are:
- Better color contrast on iGaming platforms for better text readability for people with visual impairments.
- Compatibility with screen readers for better navigation for visually impaired players.
- Customizations in font sizes and style to offer flexibility for individuals with visual difficulties.
- Audio description for visually impaired players.
- Keyboard navigation for players who can’t use the mouse.
AI Revolution for Personalized iGaming Experiences
Personalization is the buzzword for 2024, be it for marketing, iGaming or marketing for iGaming. Cashing in on the wave, iGaming platform developers and marketers will leverage AR and AI for player personalization and life-like experiences on their platform.
Also, AI will be used to predict player patterns, understand player behavior, and personalize recommendations and promotions for a more engaging and rewarding experience.
AR and VR will revolutionize iGaming by offering more immersive experiences, creating virtual treasure hunts for hidden rewards in the gameplay, where players can be rewarded for completing the quest.
Aside from the enhanced player experience, AI-driven algorithms can be used to predict problematic player behavior and aid responsible gambling environments for vulnerable players. It can also help operators to intervene timely to avoid gambling addiction.
Other interesting use cases of AI in iGaming we’re expecting to see in 2024 include,
- Personal assistance and customer support
- Risk modeling
- Player pattern prediction
Generative AI for Faster Development Process & Features Implementation
While AI algorithms are definitely going to help in risk modeling and predictive analysis, generative AI will help operators to boost efficiency and speed of iGaming platform development.
These capabilities are expected to expand further in 2024, substantially reducing the need for manual intervention that costs a lot of time and resources.
Also, using AI, developers will be able to build digital experiences that align more with user expectations and preferences, improving overall player experience on their iGaming platforms.
In-Play Technology & Live Streaming in Online Sports Gaming
Online sports betting is gaining traction all around the world and live streaming and in-play technology have a role to play in. Players find watching live games and betting alongside engaging and exciting.
Therefore big names like MGM, Caesars, FanDuel, DraftKings and Barstool Sports have built a user-friendly mobile app for betting lovers. The intuitive apps allow even the rookie players to understand the game play.
The trend is expected to see an uptick in 2024 among online betting enthusiasts in the UK and Ireland.
iGaming Goes Social In 2024
iGaming enthusiasts are leaning towards more community-based and interactive experiences, hence the brands and operators will be betting big on integrating more social elements on their platforms this year.
We’re expecting to see an uptick in creation of more community-driven environments like Sports Chat, group challenges, interactive gameplay, and others to foster collaboration among players.
Rise of Social iGaming Platforms
- Community-driven environments: Think Sports Chat forums, group challenges, and interactive leaderboards. Facilitate discussions, friendly rivalries, and a sense of belonging.
- Livestreaming & co-watching: Allow players to watch and comment on live games together, creating a virtual viewing party experience.
- Social tournaments & challenges: Foster friendly competition with collaborative or individual challenges around specific games or events.
- Social rewards & recognition: Implement systems that reward players for social engagement, like badges, leaderboards, or exclusive access to features.
Inclusion of these features will help brands and operators to improve player engagement time on their platforms.
Besides, this emerging trend will also increase player retention, enhance brand loyalty, bring more valuable player data to iGaming marketers and boost organic marketing potential through shared experiences and word-of-mouth.
Knocking New Doors in 2024
The iGaming sector is in the midst of a major change, including extensive expansions in new geographies and promising marketers.
Currently, many countries are working on regulatory frameworks to legalize gambling while safeguarding the interests of the players. Such untapped territories include Latin America, Asia, and Africa.
These regions are inviting iGaming operators to set shops there, tapping into the unutilized potential of iGaming enthusiasts with considerable portions of disposable income and tech-savvy population looking for employment opportunities in the industry.
2024 will see a rapid expansion of big iGaming players into newer territories, growing their digital infrastructure into countries that have legalized gambling due to the rising demand for iGaming entertainment.
Asia
- Expansive and diverse landscape: Asia has the most diverse population with unique preferences that will serve as a benefit for iGaming operators.
- Immense growth potential: Increase in disposable income and tech-savvy population of Asian countries hint towards a ripe iGaming market for operators.
- Progressive iGaming policies: Asian governments are recognizing the economic potential of iGaming offerings.
Africa
- Burgeoning online infrastructure: Increased internet penetration among the African population is going to work in favor of iGaming brands and operators, drawing a receptive audience eager to engage.
- Rising affinity for digital entertainment: The African audience’s love for interactive and social experiences aligns perfectly with the engaging and competitive nature of iGaming.
- Untapped market potential: Massive population with relatively low iGaming penetration creates significant growth opportunities.
- A win-win gamble: Potential for economic growth and job creation attracts government support and investment.
Latin America
- iGaming market in Latin America is seeing an upward trend, with Brazil leading the graph.
- Online casinos are seeing a spike in player acquisition in Mexico and Columbia, the former slated to become the biggest casino market in the LATAM region.
- Rise of local payment solutions like Boleto Bancário and Oxxo Pay are giving rise to iGaming dominance in the region offering more convenient and secure payment options.
- The regulated online gambling market in LATAM is expected to reach $6.75 billion in annual revenue by 2-27, as per a report by Vixio Regulatory Intelligence.
iGaming operators eager to enter new markets will come up with collaborative techniques like creating content that caters to the local culture and being respectful to local customers, while working with local stakeholders to understand the unknown geography better.
Gambling Via Social Messaging Apps
Telegram casino was a trend in 2023 but the penchant for gambling on social messaging platforms is expected to continue into 2024.
Fundamentally, the TG casino is no different from other mobile casinos, but the seamless UX and frictionless user journey made it evident that players are down for gambling and betting platforms that take user experience into consideration.
The rise of Telegram Casino hints towards the possibility of gambling platform’s expansion to other messaging platforms like Line, Kik, Discord or even WhatsApp.
The prime concern is, as told by Matthew D’Emanuele, CEO at YOLO Entertainment to EGR, the secure and efficient flow of money (in the form of deposits and winnings) to and from the platform. With the current momentum of technology, it’s expected to materialize soon this year.
Player Engagement At The Heart of iGaming Innovation
2024 isn’t going to be that year where a groundbreaking platform will emerge only to change the industry forever. Instead, iGaming businesses will put their money on incremental changes like focus on player engagement to transform the industry.
This year, strong focus will be on improving user journey on iGaming and sports betting platform, increasing player retention, and ultimately boosting the iGaming revenue. 2024 is going to be the year for the brands that will put users at the center of their business strategy and product development.
Prop Bets Beyond Goals, Runs
Prop bets on goals, runs, homeruns, etc. have been for a long time now. But 2024 is going to see prop bets beyond these common aspects.
Betting will get deeper and more layered with money wagered on other aspects including player of the match, tackles, passes, etc.
With more fine printed props, the betting market is about to get even more exciting, offering players hundreds of more opportunities to win.
The upcoming Euro 2024 is going to be the testing ground for creative props bets.
Privacy-First iGaming: Finding Delight in a Cookieless Future
Not just performance marketing, iGaming affiliate marketing will also change after the third party cookies fallout. iGaming marketers will have to gear up to enter a new world, that without the 3PC advantage and that starts with collation of first party and zero party data.
In 2024, iGaming marketers will have to place bigger bets on privacy-centric marketing solutions and tools, for example data collaboration, cookieless attribution tracking solution, contextual targeting, cohort analysis, and others.
Another gold mine is first party and zero party data – the one which is handed out to brands by users willingly in exchange of more personalized offers or rewards.
2024 is going to be that year when feedback and survey forms can no longer go to the trash bin.
Lastly, iGaming brands and operators will have to be careful of GDPR regulations since a misstep can bring harsh penalties and even harsher actions.
Betting Big on Influencers
Influencer collaborations are going to be the new normal for iGaming marketers, despite stringent regulations and policies.
In 2024, iGaming brands and operators are expected to set aside a major chunk of their advertising budget towards influencer marketing, and here’s what their influencer marketing strategy will look like:
- Getting influencers on board for live streaming gameplay to their followers.
- Custom promo codes exclusive to their followers.
- Freebies and joining bonus for players attracted via influencers.
- Expanding to niche bloggers, celebrity influencers, athletes to do the trick.
TL;DR: Key Takeaways
- Increased focus on responsible gaming initiatives by authorities as well as operators, leading to increased investment in technology like AI to tackle player addiction and identification of problematic player patterns.
- Potential fall in gross gambling yield for iGaming operators in the light of new and stricter regulations.
- iGaming operators and brands investing in making their platform more accessible to specially abled audiences.
- Using AI to analyze player data for better and personalized recommendations.
- Emergence of in-play technology and live streaming for sports betting.
- iGaming big guns are expected to enter the newer markets like Asia, Africa and LATAM in the light of more disposable income, lesser regulations, and mobile phone penetration.
- Prop bets will expand from traditional bets to diverse options like best player, homeruns, etc.
- More bets in player engagement than retention. Player retention to be the primary currency of iGaming brands/operators.
- iGaming will expand to messaging apps like WhatsApp, Line, etc. after making its way into Telegram.
- Introduction of generative AI for faster and more efficient implementation of new platform features.
- More focus towards privacy-centered tactics like contextual targeting, cookieless attribution tracking solutions, influencer collaboration, data collaboration, etc.
