Projections for the iGaming Industry in 2023

The iGaming industry has long been known for its innovation, with the use of technology and the interactions between operators, suppliers, and players advancing year after year.

All operators have access to the same payment choices, sports, video slots, live casino games, and other requested features because they participate in a highly competitive industry. The rules of the game have changed, and differentiating yourself from the competitors and going above and beyond the required material is a make-or-break situation.

Here are some predictions made by Oren Cohen Shwartz, CEO of a company that offers iGaming and sports betting solutions, for what will happen in 2023 to answer the growing demand to move beyond content and manage a successful business through personalization, social, original content, higher level service, gamification, and more.

Player personalization is better

User experience difference is crucial in a market that is getting more and more commoditized, where competing products usually have a similar look and feel. In order to better cater to player tastes and behavior, operators and suppliers will work to personalize content, messaging, bonuses, and other parts of the player experience. Better data gathering techniques, whether explicit or implicit, will be used to accomplish this.

Such actions radically enlarge the power of bettors and players (just like any other digital consumers). They can quickly swap operators in quest of a better one if they don’t feel that power. Players of today are already accustomed to receiving personalised service from other eCommerce businesses, therefore iGaming operators must step up and offer comparable experiences.

New, entertaining ways to play

Not just for early adopters, intriguing new wagering alternatives are a crucial quality for a number of reasons. In addition to stimulating player imagination and potentially raising revenues and player satisfaction, they also enable operators to stand out in their market. For instance, Big Time Gaming developed the Megaways mechanisms a number of years ago. This innovative idea let each spin to have over 100,000 different outcomes. These game genres attracted a lot of player interest to the point where operators decided to put them in an own category.

In light of this, If Bet is unveiled, a brand-new way to wager on sports. If Bet allows users to select several single bets at a single initial amount of their choosing. The system will automatically place the next bet with the original amount, or if preferred, with the winnings stacked on as well, if their first option wins. If it loses, they forfeit their money and the remaining if-bets are cancelled.

Another one is “My Event Builder,” a fun new betting option that allows users to construct an unlimited number of events. By using this tool, bettors can combine two actual events to create a single virtual event. For instance, people can wager on Inter Milan and Liverpool to win 2:1 in the actual match, even if Milan is playing Juventus and Liverpool is playing Everton. The player has a winning ticket if Milan scores two goals and Juventus scores one in their respective events.

Self-generated content

The same sports, leagues, tournaments, video slots, live casino games, and other content are accessible to operators in the market today. They will gain some traction as a result of this, but at the expense of decreased client loyalty and lifetime value. Operators will therefore need to develop strategies for standing out from the competition.

The production of 10–20 original games by most Tier 1 operators each year, including CR Games Studio for Coral, Star Technologies, bet365, and others, is a developing trend in the casino industry. These operators create exclusive games, but not to reduce income, rather to stand out.

Avenue for socialization

The iGaming sector is not exempt from the social revolution; 20 to 35-year-olds are quite engaged on a variety of platforms. For them, sharing is a way of life. They can play slots together (with a shared wager behind), participate in slots duals, share wins, and engage in other forms of social interaction. As vendors and operators try to incorporate the social revolution into the betting experience, we will see more of this trend in 2023.

Ready to help

Excellent service comes with wonderful content. Players have a wide range of brand options, and they have a very low threshold for poor customer service. The idea of “at your service” runs throughout every phase of the player journey. Every touchpoint must be painless, from automatic, quick registration and the KYC process through automatic, quick withdrawals, rapid betting, and quick deposits. Additionally, customer service is the public face of the business, so the team that interacts with players must take advantage of the chance to handle any problems swiftly and uphold the reputation of the company. A player can switch from complaining to appreciating if they do it appropriately.

Increased gamification

Gamification, while being overdone, is still significant and will keep gaining popularity as suppliers and operators hunt for new strategies to draw and keep participants. The urge to raise the betting experience above mere content is at the heart of gamification. Operators will have a lot more methods to keep players interested and compensate them for their time invested in the ecosystem by layering metagames over already existing content. In both the casino and sports verticals, I anticipate seeing more gamification components like tournaments, missions, and XP points. Finally, because no two players are alike, player personalization and gamification should work together. The offer needs to be pertinent and appropriate for every player separately.

Quicker and easier

Both high rollers and casual players are visiting operator websites in a betting mood. The better the betting experience, the quicker and easier it will be for them to wager on their preferred team or spin their preferred wheel. Although this is a current trend, operators will need to find ways to further reduce friction in order to offer frictionless journeys in 2023, including quick KYC, automated withdrawal, content filtering based on past behavior, quick bets, and more.

Relevant and purposeful notifications

If notifications are pertinent to them, such as live results if they have placed a wager, when a jackpot reaches a specific amount, or when a favorite game presenter is on, players and bettors will choose to receive them. It can be a wonderful technique to keep the player linked to the ecosystem, even if they aren’t actively using the app at the time, if handled by the operator properly (so that they don’t bother or overload the player).

Live dealer games

Due to the fact that they blend the experience of both online and traditional gambling, live-dealer games are incredibly popular. In addition to receiving the visual experience of watching a dealer deal cards or spin the roulette wheel, players can take use of all the advantages of playing at home, such as creating their own environment and avoiding crowded venues. Casinos will probably use this option more frequently as they become aware of how successful it is in luring customers. Additionally, as internet bandwidth restrictions increase, live gambling streams are able to host more gamers at once.

Bitcoin betting

The gaming market for cryptocurrencies will expand as its regulation is clarified. Since they already have a substantial market niche within the iGaming industry, casinos that accept Bitcoin and other digital tokens as payment methods will expand in 2023. The ability to place wagers anonymously, to pay minimal or no fees, and to complete transactions quickly all appeal to gamers. Users of cryptocurrencies place a high value on the anonymity they offer and are not likely to switch back to conventional cash payments.

Many non-crypto gambling platforms will probably attempt to incorporate cryptocurrency into their platforms in 2023 in order to meet the needs of their users.

Compliance and legal framework

More governmental bodies are beginning to understand how crucial it is to control betting in their territories. There will always be people who engage in gambling-related activities through side channels and other means, whether gambling is legal or not. Governments can choose to actively regulate these activities in order to benefit financially from a very lucrative and well-liked sector.

Particularly for sleeping giants like Brazil and other LatAm jurisdictions, which are on the verge of regulation, I anticipate seeing further development in these nations. Additionally, I anticipate that the laws of those nations with established or developing legal systems will become more player-protective.