5 Trends that will change the online gambling market in the years to come (by Technavio)

The online gaming market has developed rapidly worldwide; in fact, the gambling business is currently legalized in more than in 80 countries of the World.

In this line, a global market study of online gambling and betting provided by Technavio Company, demonstrates the five main trends that will impact online gambling in the period of 2016/2020. Each of these trends have the potential to significantly impact the market positively or negatively, that is to contribute to its growth or decline. But also the analysis predicts that revenues from the online gambling industry Hill surge to $60 billion by 2020.

 

5 Trends that will change the online gambling market in the years to come (by Technavio)
5 Trends that will change the online gambling market in the years to come (by Technavio)

The study was made according to several criteria: according to the type of product (bets, casino, poker, bingo, lottery, etc), type of device (desk or mobile) and according to the geographic situation like North America and South America; Europe, Middle East and Africa (EMEA, geographic region where the sector of the game is more developed); Asia and the Pacific (APAC). On the other hand, the segment highlighted how the one with greater influence in the market is the sports bets.

So, let’s have a closer look at these top 5 trends of online gambling market provided by Technavio:

1) Growing number of online women gamblers

The statistical data shows that in USA females make up around 40% out of the total number of gamblers, while in the UK this number exceeds 49%. Also shows that the most actively gambling female audience include women under 35 and that prefer gamble in private, on their personal electronic devices so that they can play confidently and are less intimidated by male players. From that pioneering casino launched just for women “Cameo Casino”, there have been numerous examples of successful online casinos for women, such as Pink Casino, 888Ladies and Maria Casino.

2) Changing consumer gambling habits

There has been a significant change in consumer behavior in the global online ambling market. The increase in the popularity of gambling apps and social gambling are the major factors that are expected to propel market growth during the forecast periods. Developers are actively launching thousands of mobile applications for social gambling, and clients opt for games that enable them to compete with their friends while playing, gaining more and more popularity the free games, so called Free-to-Play games, having special features that might give you advantages over competitors. This tendency to play and bet on the mobile is also related to the use of alternative payment options which we will see next.

3) Alternative currency payment

Online gambling enables players to use virtual money (Bitcoin) which is more secure and reduce the risk of carrying cash. And although payment options through real cash online and virtual currency already exist in the market, more and more users these days are asking about the availability of bitcoins as a special type of digital currency, as the prize money can be used to play other game or redeemed for cash. Operators, in their turn, are trying to adjust to such circumstances offering alternative ways of payment, and consequently, create new casino formats such as Bitcoin casinos.

4) Increasing penetration of credit and debit cards

The traditional and major challenge of online gambling market is the legal issues with different countries. Though several countries permit land-based casinos because it promotes tourism, they are still extremely strict on online gambling.

Anyways online gambling cannot be fully banned, as user can still access foreign websites with a proxy server and gamble easily with international credit or debit cards.

5) New marketing tools

The new marketing strategies consist of more ads in mobile and social networks, and at the same time trying to prevent them to be so intrusive and annoying to users. In this sense we should mention the most effective tool used which are personalized newsletters with non-intrusive ads.

The biggest challenge for the vendors is to reach their customers (especially young generations) through mobile devices and social media, as many of these users skip advertisements straight away. So they need to think in a content that is informative but also entertaining and that in last place is appealing to all kind of customers.

Keeping everything in mind there will be a change in the course of online gambling and the market as whole, where the line between On and Offline gambling will begin to merge (more and more land based casinos incorporate platform experiences for players due to its popularity), Bitcoin will increase its use and reliability, (it is only a matter of time before it comes to dominate the online gambling industry) and online gambling will become key revenue streams within mainstream vehicles.

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