iGaming Business Trends in 2023

Results of 2022 and Expert Forecasts

At the beginning of 2023, the web media portal ResearchAndMarkets published a report on the main changes in the internet gaming field.

The market is showing positive dynamics.

At the end of 2022, the GGR (gross income) of the sector amounted to $81.08 billion. According to analysts, the sum will increase to $88.65 billion in 2023.

The capitalisation of the industry is observed in all regions:

1. Europe has already become a haven for investment in the gaming industry.
2. Latin America is expected to demonstrate strong growth in the sector thanks to the legalisation of gambling in Brazil.
3. The Asian market is considered the most profitable for launching and scaling an iGaming project.

Experts predict further growth in the profitability of the entertainment sector in 2023.

The entertainment industry is actively developing and improving. The income of entrepreneurs working in this niche is growing at an unprecedented rate. Operators achieve this success by keeping up with current tendencies and providing relevant products to customers.

Consider what trends will prevail in the gambling field in 2023 together with CASEXE specialists. Order your online gaming project from our studio.

Results of 2022 and Expert Forecasts

The profitability of the entertainment industry has increased by almost $40 billion over the past year. For comparison, the figure for 2021 was $52 billion (last year, operators managed to generate $90 billion in revenue). These figures are impressive and motivate businessmen to open projects in the gaming area.

Experts predict further growth in the profitability of the entertainment sector in 2023. Consider the potential increase in lucrativeness in different regions:

• Asia Pacific — about 11%;
• Europe — 8%;
• Africa — almost 13%.

The previous year was distinguished by such significant events in the gaming industry:

• the legalisation of online entertainment activities in Ontario, Canada;
• positive changes in British legislation;
• the establishment of the regulatory body in Curacao, and others.

Operations

Let us consider what trends will be relevant in this direction of managers’ activity in 2023:

Thorough Data Analysis

Correct work with information about players will allow entrepreneurs to properly organise the operation of their projects. The main thing is to encourage customers to provide data. You can offer them rewards (bonuses, credits, free spins, etc.) for completing surveys or filling in certain fields in their profiles.

A proper approach to information processing will let entrepreneurs achieve the following goals:

• improved control of advertising costs;
• the creation of personalised marketing materials;
• the formation of an up-to-date entertainment catalogue, etc.

When analysing user data, you should pay attention to the following nuances:

• the age of players;
• their gender;
• income level;
• amounts spent on gambling activities, etc.

Increasing Advertising Costs

The high level of competition and the wide range of gaming products on the market make operators spend a lot of money to attract potential customers.

Entrepreneurs are looking for new, more sophisticated ways to engage their target audience. Mail-outs, banners posted on partner sites, and text ads no longer surprise anyone. Dynamic content is the future of entertainment project promotion. Video and audio formats are in high demand today.

A reasonable approach would be to attract influencers to popularise online casinos and betting sites in 2023. People are spending more time on social media these days. They get most of their news from Facebook, TikTok, Instagram, and other platforms. Therefore, social media marketing along with the services of recognisable bloggers will be a great solution for operators this year.

Player Engagement and Retention

In the gaming business, it is important not only to attract customers but also to constantly keep their interest and motivate users to make regular big bets.

To achieve this result, entrepreneurs should:

• constantly update and expand the catalogue of available software;
• launch bonus and loyalty programs;
• integrate social (free) content into their platforms, etc.

Working with data and its careful analysis plays a critical role in the development of the right strategy for attracting and retaining customers. A deep study of reporting will allow you to identify the strengths and weaknesses of marketing activities and find more effective mechanisms for interacting with the target audience.

Player Behaviour

The essence of this trend lies in the study of players’ activity and the formation of an appropriate range of products and services based on the needs of consumers.

Let us look at tendencies that will be relevant in 2023:

Mobile Solutions

The convenience and portability make smart gadgets indispensable helpers of a modern person. Gamblers are gradually abandoning the desktop format in favour of tablets, phones, and other devices.

This trend is especially relevant for residents of such developing regions as:

• Southeast Asia;
• Africa;
• South America, and others.

A smartphone is an affordable gadget that even low-income people can buy. Therefore, the mobile format is in demand in many areas.

Innovative devices deserve special attention this year. A lot of eminent manufacturers have already started releasing content for smartwatches. This niche has huge potential. So far, only a limited number of operators offer their customers such a play format. It means that entrepreneurs should think about starting to work in this sector while the level of competition is moderate.

Focus on Live Betting and eSports

The majority of gamblers (over 60%) prefer to place bets during match broadcasts. This approach lets them experience excitement and vivid emotions. Therefore, making it possible to watch sports events in real time will be an important task for operators in 2023.

As for other demanded niches in the betting business, it is worth focusing on cybersports. The fans of this format are young and energetic people (about 28 years old on average) with a stable high income. These characteristics make them an ideal target audience for operators.

Analysts predict that the lucrativeness of eSports betting in 2023 will reach about $24 million.

Operators should focus their attention on the following promising markets:

• South Korea;
• the US;
• China.

Games with Real Dealers

The possibility of live communication with a croupier and other players has been attracting users from all over the world for many years. 2023 will not be an exception, real-dealer projects will continue to be relevant among gaming enthusiasts.

At the end of 2022, the researchers formed the list of the most popular live games. Here are some of them:

• Rocket Dice;
• Dragon's Element;
• Wild Spin;
• Blackjack VIP;
• Elvis Frog in Vegas;
• Booming Bananas;
• First Person Mega Ball;
• Book of Cats;
• Aztec Magic Deluxe, and others.

These entertainment solutions will continue to be in demand. At the same time, developers will not stop working on the creation of new content following current trends.

Payments and Licensing

Find out what tendencies will be observed in this direction:

Expanding the Range of Settlement Methods

The more payment instruments offered by operators, the higher their potential income. In addition to connecting global financial systems, enterprisers will also focus on local settlement methods.

Innovative technologies will greatly influence the development of the gambling industry. The introduction of cryptocurrency tools in online casinos and betting sites will allow entrepreneurs to gain the trust of players and, as a result, receive higher profits.

This payment method has the following advantages:

• reliable protection of user data;
• the anonymity of clients of entertainment projects;
• investment opportunities, and others.

Formation and Improvement of Local Gambling Legislation

Some countries have rather outdated gaming laws. Additionally, quite a few states have not yet adopted legislative norms to control the activities of entertainment projects. As a result, large sums of potential taxes do not enter the coffers of these countries.

The adoption and improvement of gaming legislation will allow the authorities to control the gambling industry and receive financial benefits from the activities of land-based and online start-ups. This process will also bring a lot of benefits for entrepreneurs working in the entertainment niche.

They will be able to:

• buy content from official distributors;
• obtain gambling licences;
• gain the trust of a wide audience;
• advertise their services legally, etc.

Gamification

Find out what trends operators will follow:

Advanced Technologies

Gaining new experiences and interacting with gaming sites in a more comfortable and safer environment will motivate players to use entertainment portals much more often.

Entrepreneurs will introduce innovative technologies into their projects in 2023 with the following goals:

Focus on Bonus Programs

Rewards for customers will become a top priority for many operators to retain prospective users.

In 2023, entrepreneurs will apply several well-established methods:

1. Bonuses for registration and first deposits.
2. Loyalty points for regular clients.
3. Cashback, and others.

To form the right marketing strategy, it is important to pay due attention to working with data. A thorough analysis of reporting will help entrepreneurs develop an effective bonus program.

Safety

Consider what methods of player protection will be relevant in 2023:

Responsible Gaming and Privacy Defence

Countering gambling addiction is always a crucial task for reliable operators.

The interaction of the audience with entertainment sites will be more responsible with such measures as:

• informing players about the risks;
• providing psychological assistance to users with ludomania;
• the possibility of self-limitation, etc.

To increase the level of players’ confidence, entrepreneurs will also pay great attention to data protection. To do this, they will use the following methods:

• advanced encryption algorithms;
• storing information on reliable servers;
• compliance with current gaming legislation, and others.

Changes in the User Verification Area

Many operators strive to simplify the process of customer identification as much as possible to satisfy their punters. However, iGaming managers need to provide a deeper check of players for security matters.

To simplify the verification procedure, entrepreneurs will use innovative biometric recognition technologies. This trend is just starting to gain momentum. However, experts predict that it will spread to all regions of the world soon.

To check the identity of players in more detail and block suspicious users promptly, information about gamers and reporting on their activity will be processed by advanced machine learning tools. This will positively affect the security of online projects and will reduce personnel costs.

The Main Things about the Entertainment Industry Trends in 2023

The coming year will bring many prospects and new opportunities for the owners of online casinos and bookmaker sites.

The main tendencies of 2023 will be as follows:

• operations within gambling resources;
• studying player behaviour;
• payments and licensing;
• gamification in interaction with customers.

To find out more about the prospects of the gambling field, please contact CASEXE managers. They will acquaint you with up-to-date expert forecasts and statistical data in detail. Also, our team offers a wide selection of the best gambling products on the market.