The start of a new year always brings a lot of anticipation and plans for the year ahead. The online gambling sector is no exception, as it remains one of the most dynamic, fast-changing, and lucrative sectors out there, bucking the trend of economic downfall and bringing in more players every day. But what do you need to know for the next 12 months, and what trends should you be keeping your eye on?
Payments and licensing
According to a study undertaken by Softswiss, some 60% of gaming operators said payments and licensing would significantly influence the gambling sector in 2023. We expect that more jurisdictions will announce their own regulatory frameworks over the next 12 months, meaning payment providers will need to focus on localising financial modules and creating well-established payment options. Integration of popular payment methods, including digital wallets and crypto payment providers, will also be key.
Even those not confident in crypto will find themselves having to offer crypto payments in a bid to remain competitive and attract crypto-orientated gamblers. Stablecoins and those pegged to fiat currencies are also ones to watch as these provide the non-volatility craved by operators and players alike.
Player behaviour and trends
Players’ behaviour- understanding it and leveraging it will be a big focus for the coming year. Everything from fixing players’ problems to tailoring their experiences to their exact needs and preferences will be of interest to operators as market competition intensifies. We will also see more integration of gambling on smartphones and smart devices as a way of responding better to the needs and lifestyles of clients.
Changing preferences, such as live betting over pre-game betting, live dealer over virtual casino, and crypto over fiat, will also shape the services players provide.
eSports continued prosperity
The pandemic brought uncertainty for many industries, but in iGaming, it helped push eSports to the fore. As many regular sporting events were cancelled or postponed, eSports quickly became a way for sports betting fans to continue betting. Since then, the sector has become mainstream, with all the leading betting operators offering eSports options. Its customer base is loyal and continues to grow, and experts predict that this will only continue as long as operators can forge successful and beneficial relationships between operators and the once-niche eSports community.
2023 will be a year with a big focus on increased security. With the proliferation of digitisation and more people gambling online than ever before, the threats associated with cybercrime and fraud also increase. This means operators will have to focus on security in order to keep their players feeling secure and confident to gamble with them. From GDPR to data security, responsible gambling and enhancing protections from a software and platform level, the onus will be on operators to step up.
We also expect to see regulators require stricter controls from operators on everything from cyber security to anti-money laundering measures. Also, keep your eyes out for tougher marketing and advertising rules, bonus abuse, and payment system fraud.
Live dealer growth
Interest in live dealer games will continue to flourish as players look to incorporate the interactive element of offline gambling with the ease and convenience of the online world. This will be fuelled by faster internet, more capable smartphones and other devices, and better software solutions for operators. Many live dealer game studios are looking to double their global footprint this year, launching a range of new products and options to meet growing demand.
It will also be helped along by technologies like virtual reality and augmented reality which can be integrated into live dealer casinos to further enhance the experience. In 2023, operators without live dealer options will feel the consequences as players will seek out platforms that can cater to all of their needs.
Fast Offshore has been working in the online casino sector for over 25 years. Our team is ideally placed to assist you with every step of the process and manage your corporate needs going forward. To speak to a member of our team today, contact us here.