The internet gambling market has seen exponential growth over the past year or so, and the truth is that people everywhere simply cannot get enough of online casinos. The global industry has more than doubled from $22 billion in 2010 to an estimated $47 billion in 2017, and is expected to hit $60 billion by 2020.
To put those numbers into context, this suggests that this year, the industry will generate more income than box office revenues from the entire film industry worldwide, which is estimated at $41 billion for 2017.
Anyone who denies the critical importance of online casinos as a mainstream leisure activity for millions of people and an important revenue generator for economies around the world needs to wake up and smell the coffee. So what changes and innovations can we look forward to in this growing sector over the coming year?
More casinos, bigger bonuses
Those spectating from the sidelines will be well aware that there are a growing number of players in the market, with new casinos appearing online every week. Competition and choice are words that consumers love to hear, as it means providers will be desperate to win their business, so sites like https://www.casino-ratings.co.uk/, that give a plain and simple run down of which site is offering what bonus, are of huge benefit.
A more realistic experience
Technology marches on apace, and one of the biggest breakthroughs of 2017 has been in the field of virtual reality. After a number of false starts, it really appears that the developers have cracked it, and the headsets that are now on the market are likely to be this year’s “must have” for Christmas. Game developers are already getting wise to the new paradigm and launching VR versions of popular titles, and you can bet that the online casinos will not be far behind, using the latest technology to provide the most realistic experience yet.
Bespoke service offerings
Another area of technological advances in in the sphere of big data analytics. As processing power advances, computers can gather more data than ever before and use it to perform analysis on buyer behaviour. Useful for marketers, no doubt, but it also provides a richer, more bespoke service offering to consumers. You have probably seen how platforms like Facebook seem to “know” what’s on your mind. For example, if you have spent half an hour comparing car insurance prices online, you will suddenly see ads offering exactly that service in your news feed.
That’s big data analytics in action, and you can expect it to spread to all aspects of our online activities, including gaming and casinos. Games will quickly learn your habits and preferences, allowing them to offer a tailored experience specific to your needs.
There has already been a trend in online casinos and sports betting sites seeing an opportunity to cross sell, leading to increased revenue for the sites and a more varied experience for players. This pattern is likely to extend into the broader gaming world, bringing an even wider audience to this growing segment.