A provider of solutions for casino and sportsbook platforms, Uplatform, conducted a comprehensive study of the entertainment market. The main attention was paid to betting since it is the most highly profitable and dynamically developing area.
Specialists of the CASEXE studio will present the results of the report and give their opinions on the key trends in the iGaming niche.
Uplatform research shows that the sector will grow rapidly during the next 10 years.
The company predicts that from 2023 to 2030, gross gaming revenue (GGR) will increase by an average of 11.7% each year. At the end of 2022, global GGR reached $63.53 billion, and by 2030, this figure will be $117.6 billion.
Let us consider the key indicators of the development of the casino and betting market:
It means a change in gambling policy presented in the form of the legalisation of games for money in many EU countries, Latin America, and Asia. This approach ensures stable capitalisation of the segment: operators have room to grow and scale their projects, enter new areas, as well as raise productivity.
At the moment, the attention of global investors is focused on LatAm. Shortly, the Brazilian market with a multi-million audience, experienced professionals, and a well-developed IT infrastructure will open.
Mr. Randall, sales manager for Uplatform, noted:
The online casino niche is always developing. Among the most significant changes, we can name the influx of millennials and Generation Z into the gambling sector.
In most jurisdictions, access to the placement of bids is prohibited for anyone under 21 years of age. Due to such restrictions, only 20% of the younger audience can legally bet money in digital casinos and bookmakers’ offices. And even this number of users brings stable income to operators.
As for millennials, they generate about 30 or 40% of iGaming platforms' revenues.
The nuances of attracting juveniles to entertainment resources:
Active implementation of innovations is typical for many sectors of the economy, including gambling. Modern IT solutions increase customer engagement, provide the most accurate and realistic picture, as well as speed up mutual settlements.
The Uplatform company calls the metaverse the main driving force in the iGaming sphere.
Mr. Randall said:
The expansion of such a market in recent years offers opportunities to find new sources of income. Online casinos and sportsbook portals open up new perspectives.
The capitalisation of the digital entertainment niche is also affected by the following technologies:
Mr. Randall noted:
Finding the right mix of products that resonate with the audience, promoting them effectively, and implementing strategic marketing approaches are those steps that operators need to achieve better results.
In 2023, it will be important for business owners to find a balance by offering a wide variety of content with different levels of volatility to meet the demands of players and satisfy their risk appetite.
Continuous testing, monitoring, and prompt resolution of issues, as well as taking into account user feedback, form a win-win strategy for maintaining a high-quality iGaming environment.
Popular types of casino entertainment:
Mr. Randall said:
LatAm is a very unique region. It is influenced by European and American gaming traditions, especially in the betting segment. The market is characterised by a variety of products and sports.
Key features of the local industry:
It is worth mentioning that it dominates the LatAm gambling sphere and is considered legal in almost all jurisdictions, including those (such as Mexico) where the operation of virtual casinos is not allowed.
The Uplatform company identifies several trends in the betting vertical:
Experts of the Uplatform brand predict that Brazil, Peru, and Chile will start issuing casino licences already this year. They will follow the successful example of Argentina and Mexico.
For these states, the launch of the iGaming vertical turned out to be quite profitable. It attracted multimillion-dollar investments, created thousands of jobs, and brought enormous revenues to the budget.
Cultural values and local traditions have a huge impact on the LatAm entertainment market. People have been betting money on horse races, lotteries, bingo, and keno for centuries. Today, this is one of the most popular activities in the region, which is allowed in most countries.
Among the audience preferences, it is worth mentioning the following live dealer solutions:
Gamblers enjoy placing bets in live casinos and communicating with opponents, as well as friendly croupiers.
Mr. Randall stated:
The entertainment industry in Asia is on the cusp of significant growth. This is due to the active introduction of innovations, increases in people’s income, and a positive attitude towards gambling on the part of regulators.
The Uplatform company highlights the following features of running a casino business in Asia:
Board games are in the lead among the audience’s preferences. This is content with built-in GPS and live broadcasts.
The most popular products are:
The decision to offer slot machines also brings good traffic to entrepreneurs. Users like solutions designed in an oriental style, with traditional colour combinations, images of animals, and relevant music.
The sales manager for Uplatform noted:
Affiliates play an important role in the functioning of virtual casinos in Asia. Collaboration with local partners will facilitate understanding of cultural nuances, customer preferences, and effective marketing strategies.
60% of the world's population lives in Asia. It is the most profitable gambling market in the world, which generates 40% of total GGR. The revenues of entertainment brands are constantly increasing.
Bookmakers’ offices are developing in 2 directions:
In recent years, the region has seen a surge in the popularity of eSports. They are well-developed in Japan, China, South Korea, and Southeast Asian countries. The most in-demand directions are League of Legends and Dota 2.
An interesting feature of local betters is their excessive thriftiness. They rarely take risks and deposit large sums on one event. People tend to divide their current budget into several small bids. Therefore, it is important for bookmakers to provide a wide event line with a large selection of main and side options.
Mr. Randall said:
The local industry is undergoing a powerful transformation. This is influenced by the active digitalisation of the economy, the spread of smartphones, the popularisation of Internet banking, and the growth in incomes of the population.
Uplatform published the following data:
Let us consider what content Africans like the most:
Experts of the Uplatform company highlight the following characteristics of the African entertainment niche:
This region is showing impressive growth rates (CAGR of 13.4%), although many jurisdictions are working on tightening the legislation. The UK and Germany lead the way in terms of gross gaming revenue, return on investment, and other KPI metrics.
Let us consider how the entertainment segment is developing in Europe:
Uplatform analysts highlight several key features of the local audience:
We offer to your attention several conclusions from the research on the development of key entertainment markets:
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