One of the leading innovative tech providers for iGaming - SOFTSWISS, has analysed market changes and surveyed the iGaming industry. Thanks to the results, they created a special report showing their predictions regarding industry trends.
Essential Things That Happened in 2022
- The global online gambling market grew by about 20 billion dollars, from 58.2 to ~80.
- In April, the province of Ontario opened up, and Canadians got the legislation for iGaming.
- In September, the UK Gambling Commission announced new social responsibility rules under Regulation 3.4.3 of the Social Responsibility Code.
Predictions for iGaming Operations
In 2023, more operators will focus on making data-driven decisions. Because of this, they’ll focus on finding software products which can give them real-time and transparent data.
It’s expected that financial KPIs, like first deposit, GGR and NGR, won’t be the centre of the stage anymore and that operators will start looking more into game session length and bet count metrics.
What to Expect from Player Behaviour
The predictions say that in 2023, operators will shift their focus from product-centric to user-centric business models. This approach aims to solve any issues players have and, in turn, increase prayer retention and loyalty.
We will also see more operators launching mobile and smartwatch versions of casino and betting sites.
The data shows that 66% of sports bets are made during live events, so operators must focus on making stable websites and providing high-quality live broadcasts.
Payments and Licensing Will be Crucial
60% of third-party experts surveyed by SOFTSWISS said payments and licensing will be the most crucial part of the iGaming industry in 2023.
More markets are expected to become locally regulated. Additionally, we’ll see more countries follow the lead of Germany, Sweden and the Netherlands and withdraw from their registrations with international gaming authorities.
Regarding payments, operators will need to ensure they’re accepting more well-established payment options and cryptocurrencies.
Moreover, more operators will embrace integration with Apple Pay and Google Pay to boost mobile online gambling.
Other iGaming Trends for 2023
In their report, SOFTSWISS also focuses on security and gamification, and we recommend that you check out their report for all the details.
