The iGaming Market Will Be Worth £80bn by 2020

The iGaming Market Will Be Worth £80bn by 2020

The speed at which the world of online casinos, slots games and poker rooms has been growing over the past ten years had been truly amazing to witness – and the latest forecast for the next five years is predicting even bigger gains.

According to Statista, the estimated worth of the iGaming industry stood at £30 billion at the end of 2017; yet that figure is expected to rise to a whopping £80 billion by the end of 2024. With so much investment being pumped into this sector of online gaming, it’s no surprise that we’re seeing more websites, more games and more competition than ever before.

The challenge facing every business in the industry is attracting new customers and retaining loyal members. Through technology, iGaming operators are trying to create an immersive experience that’s unique to their brand – and that keeps players coming back for more. Over the past few years, we’ve seen the gradual introduction and development of live streaming, VR and various deposit and withdrawal methods, all of which are designed to offer players a better gaming experience.

Let’s take a look at some of the most important trends that will continue to drive growth over the next five years.

Bonuses and sign-up offers

CodiePie: Sign Up To Join” (Public Domain) by codiepie

Setting your heart on one online casino or slots operator can be a challenge in itself, given the sheer volume of companies out there. Most businesses realise the importance of marketing a good set of bonus and sign-up incentives to both entice new customers and keep existing members happy.

Sites like Bonus Source collate information on bonuses from a range of various online casinos, poker rooms and slots games from all over the world. They also break down different operators by country so, for example, if you’re from Canada and looking for company reviews specifically written for Canadians then it’s easy enough to find what you’re looking for.

Payment methods

Bitcoin” (CC BY 2.0) by CreditRepairExpert

The ability to quickly deposit and withdraw funds from your account is an absolute must for any online casino that wants to retain the maximum number of customers, and that very idea is taking us further and further away from the standard bank transfers of days gone by.

Whether it’s depositing via Paypal, Skrill or Amex, there have never been more deposit options available for the average player to choose from. Any players that hold a keen interest in cryptocurrency can even find online casinos that allow them to send and receive Bitcoin or Litecoin as a valid payment.

Live streaming

who’s da dealer?” (CC BY-SA 2.0) by diegodacal

The idea of experiencing the thrill of a live casino table from the comfort of your own home used to be a laughable prospect – but thanks to HD streaming technology, it’s become an essential draw for many modern-day gamers.

The number of online operators investing in live casino gaming is growing every year, which is no surprise given the added level of immersion that this form of game enables. The social side of iGaming is also something that live streaming can help with, allowing players to talk directly to dealers through an intuitive chat function. There’s still a bit of work to be done to allow players to talk with one another, but that’s certainly the way we’re heading.

Who knows where the next five years will take us; we’re excited to find out!