6 Traits That Define the iGaming Industry

The iGaming industry has been staggeringly successful over the past few years, and all the signs are suggesting that its growth is set to continue in the future. Experts say that by 2027, the industry will be worth more than $127 billion, a significant increase on the $66 billion valuation it was given back in 2020.

This success, of course, has little to do with luck. In the past decade, the industry has become more sophisticated, organised, and innovative, resulting in the kinds of results that insiders always knew the industry had the potential to achieve.

Though the industry is large and contains many different stakeholders, there are a number of distinct traits that have helped to define the modern iGaming industry. Below, we’ll take a look at the characteristics that have driven the industry to success — and which will propel it to even greater heights in the future.

Appealing To a Large Audience 

The iGaming industry is on the rise all across the globe, and that’s thanks, in large part, to the increasing number of people who own smartphones. While gamers do use their desktop computers and laptops to use iGaming products, the vast majority do so using their mobile devices. In 2020, some 74% of the industry’s revenue was due to mobile play.

There are currently nearly 4.5 billion smartphone users worldwide, which has led to a large iGaming audience. By 2029, it’s estimated that the number of smartphone users will have risen to more than 6.1 billion, helping to increase the iGaming industry’s potential market even further.

Extensive Offers and Promotions

The industry couldn’t have attracted so many customers without the use of offers and promotions. In fact, you could argue that the availability of these deals is the main driving force behind the increasing tendency of players to prefer playing at online casinos over real-world establishments. Leading websites like PokerStars Casino offer promotions such as free deals, which allow newcomers to try out the website’s products in a way that wouldn’t be possible in a land-based casino. Las Vegas, for all its qualities, is not in the business of giving away its offerings for free. You’ll find these types of promotions across the iGaming industry, for the simple reason that they’re a highly effective strategy at capturing the attention of potential customers.

Game Development 

The iGaming industry wouldn’t have had such overwhelming success if it was simply offering gamers the same products they could find elsewhere. Online casinos typically offer a much broader range of games than what you’d find in a land-based casino. There are always new slot games being released, for instance, as well as multiple variations of blackjack, roulette, and other casino staples. For a gamer who wants to try the latest casino games, online casinos are the only place to look.

Investment in Security and Trust

Online trust and security are paramount for all digital industries. The eCommerce industry, for instance, only really began to take off once consumers had faith that their online transactions were safe and secure. The iGaming industry, perhaps having learned from the journey of the eCommerce journey, took similar measures to build public trust in its products. They did this by investing heavily in website security, being transparent about its practices, and partnering with celebrities and other brands during their marketing efforts.

Innovation and Development

Finally, perhaps the key factor that has taken the iGaming industry to the top is its commitment to innovation and development. The industry today is vastly better than what it was several years ago, and even that it was offering a high-quality experience to its customers. In the years that come, further strides forward will be made, helping to provide an even better experience.

Final Thoughts

No industry becomes successful by accident. It takes time, effort, and investment. And that’s just what the iGaming industry has done over the past few years — and will continue to do as it moves forward.