From Esports to Emerging Markets: Deep Dive into Sports Betting Trends 24’ with Alexander Kamenetskyi

As each new year begins, there is a growing interest in anticipating the trends that will shape the months ahead. Could you provide insights into the sports betting trends that are expected to be relevant in 2024?

Our SOFTSWISS Sportsbook team has reflected on the past year and observed that the sports betting landscape largely maintains its trajectory, with several key trends that the industry is already familiar with.

Firstly, esports is set to continue its solid rise within sports betting. Over the past few years, esports has steadily climbed the ranks, with games like Counter-Strike gaining significant traction among bettors. With projections indicating a substantial increase in viewership, reaching an estimated 640 million viewers by 2025, according to reports from Newzoo, esports presents a lucrative opportunity for operators to tap into.

Additionally, the dominance of mobile betting is expected to persist, with mobile devices driving the majority of operator gross gaming revenue (GGR). This trend underscores a preference for convenience, particularly in live betting scenarios. That is why we continually enhance our mobile applications and websites to cater to evolving consumer demands.

Also, with the emergence of newly regulated markets, operators are prioritising certification and compliance to ensure the integrity of their offerings. This includes obtaining certifications such as GLI-33 and licences such as MGA, which the SOFTSWISS Sportsbook received last year.

Overall, the sports betting trends in 2024 underscore the importance of adaptability and innovation. Operators must navigate an increasingly dynamic landscape driven by technological advancements and regulatory changes.

You have named a few trends that seem relevant for both casinos and betting projects. Does this mean that both types of projects should focus on the same aspects?

Yes and no. While the iGaming market shares common trends like regulations, each area has specific considerations. I would mention one interesting point between sports betting and casino betting. 

Last year, analysing the results of the FIFA World Cup and talking with our partners, I found out that there was a 10–20% drop in online casino betting turnover during this sports event. This shows that even casino-only projects have at least 10% of players interested in sports. In practice, it means that during every major sporting event, a casino will more likely lose a minimum of 10% of its turnover. That does not sound nice. 

That is why adding sports betting opportunities to online casinos would be a great option, especially since it’s now possible to give players a seamless experience. And I am talking not only about the SOFTSWISS Casino Platform. Our Sportsbook can be easily integrated with every casino platform on the market. 

We have cases when casino projects not only opened a sportsbook but also migrated to our sports betting platform. By the way, promoting sportsbooks is much easier than casinos, as sports events help a lot. Also, player conversion in sports betting is many times higher because, in my opinion, it is more socially accepted.

What do you mean by seamless experience?

A player simply sees no barriers moving from casino to sportsbook. In most cases, it looks like an additional tab on the website. The most convenient thing is a seamless wallet. Players can use the money they deposited at the casino for their sportsbook activities. 

We make the experience seamless not only for players but also for our partners. Our suite of products offers operators a comprehensive range of solutions, including Affilka, the Casino Platform, the Game Aggregator, the Jackpot Aggregator, and a payment gateway. These products are designed to integrate with each other, creating a cohesive ecosystem.

Going back to trends and predictions for this year, which markets would you say are the most promising?

In our market focus, we are looking closely at Latin America, especially Brazil, and Africa, with a specific eye on South Africa and Nigeria. These regions offer exciting growth opportunities, and our strategy is geared towards unlocking their potential to better cater to the unique needs of these markets.

This year, SOFTSWISS has already acquired a majority stake in Turfsport, a leading South African provider of multichannel wagering software for sports, horse racing, and lotto. It helped us officially enter the African market and extend our product portfolio.