Uplatform’s View on Trends in the Casino Industry.
The Transition to Online Gaming
There is no doubt that a more significant part of our lives has shifted online since 2020, with 50% of workers wanting to carry out their jobs remotely and 12% of employees in the EU already working from home.
It is not only working from home, streaming movies, and doing all of the other things that the internet allows us to enjoy without stepping outside; we can now also place our virtual chips conveniently from the comfort of our homes. In fact, online casinos have existed since the end of the 20th century, but their popularity has exploded in the last couple of years as more and more people have taken the opportunity to thoroughly explore more of what the World Wide Web has to offer.
The transition to online gambling is rapidly increasing, and the COVID pandemic has accelerated this process, making it impossible to visit land-based casinos at times. In 2023, the global online gambling market is expected to be worth more than $92.9 billion USD. The market is currently worth nearly $59 billion USD and is projected to double in the coming years.
Increasing Interest in Live Casinos
Research in 2020 showed that 80% of European adults are actively online daily, compared to 65% in 2015. Even those who connect to the internet for work or research are likely to look for games or other forms of entertainment among their day-to-day professional commitments. Casino games offer fast and simple gameplay that most newcomers feel comfortable with in a short period, even if they’ve never placed a bet before.
To take their seats at the table, players don’t even need to dress up in their finest attire. Players can place bets from any room in the house and enjoy the comfort and convenience of watching their live dealer taking care of them. This is fantastic news for anyone who enjoys going to casinos but lacks time to do so, as well as those who have always wondered what casinos are like but have never had the chance to visit one.
All of the typical table games can be played in this way, while game-show style efforts with treasure hunts and big wheels add extra excitement, glamor and variety.
Recent financial reports from live casino providers show that this sector is growing rapidly as its popularity increases. And among others, we’d like to highlight two reasons for this. Firstly, the pandemic – due to restrictions, the access to land-based casinos was limited, and players were looking for their beloved experience online. It’s a great leisure time with social elements that people were missing during the lockdowns – Secondly, the development of the industry and the increase in offerings, as well as the high quality of content on offer.
As Kate, Head of Games at Uplatform, mentioned: “So far, these two reasons – growing player appetite for Live Games and the emerging amount of such content and choice have developed this vertical noticeably during the past few years. It’s amazing to witness the development of the Live Games niche – finally, we can see emerging competition in this sector, regardless of quite a larger cost involved, when compared with RNG game development.”
The Increasing Influence of Classic Themes and Skill-Based Games
Our favorite games have also evolved in recent years. While it varies depending on the region, player demographics are undeniably changing. According to the UK Gambling Commission, nearly half of all players in the UK are between the ages of 45 and 54. In Canada, however, the 18-39 age group accounts for roughly 70% of online gamblers.
This helps to explain the trend toward skill-based games, as this generation has grown up playing video games that required specific skills. However, due to the timeless appeal of classic slots, this type of casino game remains the most popular overall.
More Diversification is the Key
If there’s a keyword that helps us to understand the latest casino trends, it’s diversification. With more people than ever looking to play online, gambling has expanded to provide something for everyone.
As a result, we now have hundreds of slots from various developers, each with interesting themes and unique features designed to set them apart from the crowd. Today, Casino offerings are huge – for example, Uplatform has more than 16000 slots from 200+ providers in their portfolio. But not only casino assortment today is important.
Maria, the Head of Marketing at Uplatform, says:
“Betting makes up 42.5% of all online gambling activities, and CAGR is expected to grow at a more-than-healthy 10.1% from now until 2028. Therefore, it’s easy to see why it’s becoming increasingly important for casino operators to add a sports betting option on their site to complement their casino games. And our Sportsbook with the biggest sports and events coverage is a great opportunity for online casinos to diversify their business and receive full advantage of the online format. That’s what makes Uplatform a premier partner; we deliver our clients the best content covering all top and trending entertainment right across the iGaming spectrum, ensuring they stay ahead of the competition with our diverse and ever-expanding offering.”
Existing Trends That Aren’t Going Away
Even before the latest changes that we’ve covered here, there were some existing casino trends that have helped this industry to modernize and surge ahead. These include the acceptance of cryptocurrencies as a banking method and mobile gambling on smartphones adding more flexibility. Trends like this are ideal for modern lifestyles, which is why it seems unlikely that they fall out of fashion anytime soon.
As we have seen, the casino industry has retained some of the classic elements that have helped it to captivate and entertain so many of us over the years. This is an industry that doesn’t stand still, and we can expect the trends that we’ve looked at here to continue to push it forward to new levels of growth by putting smiles on more faces.
As briefly stated in this article, the spread of COVID has had an impact and changed things in a variety of ways. Many industries may still face challenging years ahead. In the online gaming industry, however, this is not the scenario that’s playing out. And, with many reports indicating a steady and very strong growth forecast, don’t miss out on this opportunity.