The online gambling sector will surpass $72 billion by the end of this year. While a big chunk of this is sports betting, the online casino sector is diverse, strong, and promising for investors. Driven forward by the timeless popularity of games like poker, roulette, and of course, slots, online casino games remain popular and in demand.
If you’re considering branching out into the online casino sector, this article will contain information that should be useful to you. Based on our 23+ years of working with gambling startups and businesses, we understand the state of the sector.
Statistics
The consensus is that roulette, blackjack, and poker are the most in-demand online casino sector games. Slots including video slots and themed slots are also extremely popular on online casino sites. Year on year, they have remained popular and lucrative for operators. Other popular games include keno, craps, and baccarat. With these games, you can have multiple versions on your site, each with a slightly different theme. This can help you maximize revenue while keeping customers happy. Additionally, poker has several variants like video, Texas hold-em, Five-card draw, Omaha hold ’em, and more.
In terms of slots, they are one of the main sources of revenue for online casinos that feature them. Similarly, some operators have seen additional value in setting up stand-alone slots sites to cater to the needs of players. Slot games are popular because they are easy, have big jackpots, and operators often include bonuses to entice players. Operators that offer slots often tend to include lotteries and scratchers as well. These are another strong source of revenue.
The online casino sector will continue to grow. It will increase at 11.5% CAGR over the next few years, according to projections. The inclusion of new technologies will help boost its popularity across all age groups. It does, however, face some stiff competition from sports betting. To encourage players and increase spending it’s advisable to include a range of options for gamblers including slots, lottery, and games with different themes.
The key to the ongoing growth of the online casino selector is the inclusion of new technologies, and things like crypto payments and VR.
Key drivers of the online casino sector
As with other kinds of gambling, the key drivers of online casinos’ growth relate to accessibility. The widespread use of smartphones combined with low-cost access to fast and reliable internet means more people are online than ever before. Furthermore, they are looking for entertainment on their mobile devices when they are on the go. This has led to a big increase in the popularity of all kinds of mobile games, including casino games. As the internet gets faster and even more accessible, and smartphones get more high-tech, this trend will continue driving the sector forward.
Another key driver of the online casino sector is the age of mobile phone users. The 18-35 demographic is prolific in smartphone usage and interest in mobile entertainment. This means they are a viable target audience for smart, user-friendly, and high-tech mobile casino games. But operators will need to remain on their toes, always offering the latest in graphics, games, and technology to keep their interest.
Another point worth considering is the image of casino games like poker, baccarat, and roulette. These games have been very much in fashion due to their inclusion in films and popular music. Slots were adapted to include themed games around pop culture icons, popular movies, and TV shows. This approach has been very successful with operators who have capitalized on the popularity of other media. Therefore, any budding operator should be considering the inclusion of culturally relevant games that meet the needs and preferences of players.
Areas of interest for the online casino sector
Within the online casino sector, there are a few areas that are sparking particular interest. The following are verticals set to boost the industry and bring new demographics of players. For those looking to set up in the online casino sector, these are well worth noting.
Crypto
CryptoCryptocurrency gambling is an area of particular interest for the online casino sector. As discussed above, the market is being driven forward by younger players. These younger players are often interested in crypto and could potentially be interested in making deposits and withdrawals this way.
Using cryptocurrency as a payment method on your platform also opens it up to those who don’t, can’t, or just don’t want to use centralized fiat methods. This pool of possible players totals over 1 billion; can you afford to ignore them? Using crypto also gives you a competitive edger over those that don’t and positions you as a tech-savvy leader.
VR and AR
Casino games, in particular, table games, are great for virtual and augmented reality. These technologies allow users to create avatars and immerse themselves in a digital environment. They can recreate the casino floor, customize it to their preferences and interact with the dealer and other players.
These technologies are used with live dealer games or regular games whereby the computer is given its character. As the popularity of land-based casinos declines, and interest in immersive experiences increases, more players will be looking for virtual casino games to play.
Wearables
We know mobile and tablet-based gambling is rising, but gambling via wearables or home assistants is also a possible niche. Many software and gaming developers are working on platforms that are accessible via devices like smartwatches, or Alexa. Using voice recognition technology to make deposits and authorize wagers will further increase visitors and revenue on sites. The integration of this kind of technology otherwise called the Internet of Things will make online gambling much more accessible, especially to those that are always on the go.
Emerging Jurisdictions
When we talk about the current size and the growth of the online casino sector, we have to mention emerging jurisdictions. Right now, all eyes are on Latin and Central America as several governments have moved to legislate for online gambling. Argentina, Bolivia, Columbia, Chile, and Mexico have all introduced friendly online gambling laws. Brazil, the largest country in the region is moving towards legalization, which opens a huge new market for operators.
Asia has always been a region of strong growth that seems likely to remain the case in the future. eSports is becoming increasingly popular, as are technology-driven platforms and crypto gambling. Home to some 4.5 billion people, it’s a prime location for the online casino sector.
Europe will remain a constant source of stable revenue. Germany has recently started issuing gambling licenses, and other locations such as Lithuania have also entered the fray.
Contact Fast Offshore
If you want to open an online casino, Fast Offshore can help. Company incorporation to licensing, bank accounts, compliance, and payments, we will do it all. We can even take care of tax structuring and ongoing maintenance. Above all, we put transparency, professionalism, and customer service at the core of everything we do. Our years of experience have taught us to put the customer first and offer the maximum in terms of knowledge and skills. Whether you’re ready to get the ball rolling, or you just want to ask a few questions, we are ready to hear from you. To find out more or to speak to a member of our team, contact us today!
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