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What to expect in iGaming in 2023 by Fast Offshore

Thursday, 19 January 2023

The dawn of a new year always brings with it a lot of excitement as well as 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?

Increased personalisation

As more operators join the market and the products on offer develop in similar ways, it is essential to stand out in terms of user experience. This can be achieved through personalisation whereby content, bonuses, and communications and other features can be tailored specifically to a player's personal preferences and even behaviour.

This can be partly facilitated through the use of big data and analytics, as well as interacting with players and allowing them to express what they want. By doing this, players will feel more empowered as well as loyal- if they don’t, they will simply find another operator. The players of today and tomorrow will demand to be catered to and will expect a bespoke service, meaning you need to step up and offer the same.

New ways of wagering

Another consequence of increased competition in the market is that players want new ways to wager. This not only keeps players intrigued, but it allows operators to make themselves stand out in the market while increasing revenue and client satisfaction. These new kinds of wagering can be applied to slots, sports betting, table games, and even made-up events.

For example, players could make a virtual football game, for example, Manchester United versus Barcelona, when in real life, Manchester United are playing Juventus and Barcelona are playing Madrid. But in the virtual event, the scores of the teams they chose would count as if they were playing against each other. This is just one example, but there are many ways you can consider developing novel bet types to keep your players interested.

Interactive gambling

Social media has become a huge and very important part of our lives with people of all age groups and demographics. We have got accustomed to interacting digitally via video, text, audio and indirectly through social media platforms like Twitter and Instagram. This means that when players come to your gambling site, they will appreciate the ability to interact socially there as well. As an operator, you should be looking at integrating player chat functionality, both in a group chat format and private messages.

You can also consider allowing the sharing of bet slips, streaming casino games, allowing shared betting and gambling, slot duals, win sharing and other ways of facilitating socialisation between players. Remember, the more chances you give them to interact with other players, the longer they will spend on your site.

Live dealer games

Off the back of a desire for interactive gambling, live dealer games are experiencing a surge in popularity. Thanks to access to fast internet connections and the increased capabilities of the smartphone, live dealer games are becoming a staple for serious operators. If you are not offering your players the chance to play casino games with real dealers; you are losing out on a significant revenue stream.

Players are moving away from land-based casinos, but they want to keep that feeling of interaction while enjoying the convenience and privacy remote gambling offers. While it can require quite a bit of investment for providers, the payoff is worth it, as players will remain loyal and spend more.

Tighter regulation

As online gambling becomes more popular, governments understand that the risks increase, and they must take action to mitigate them. This results in changing and evolving regulation- a headache but a necessary one for operators. In 2023, the risks of fraud, cybercrime and money laundering are increasing, and we can expect more of a response from the authorities. There is also a realisation that even in jurisdictions where online gambling is not permitted, it is still taking place; therefore, additional frameworks may need to be put in place. Governments will seek to regulate these markets to benefit from the income generated.

We can expect to see particular developments in Latin America, including Brazil, as well as in Asia. In countries where regulation is already established, we will see more of a focus on player protection.

Crypto, crypto, crypto

AS the regulation of online gambling tightens and more frameworks are developed for cryptocurrency, the convergence of the two sectors will become more apparent. Bitcoin and the thousands of other crypto coins out there will continue to grow in popularity, and more players will want to gamble with them due to their immutability and privacy. Another big draw will be the low fees associated with crypto and the speed at which transactions can be enacted. In 2023, we expect to see a big uptick in platforms incorporating crypt payments and more crypto-only sites emerging.

We have two and a half decades of experience in the online gambling sector and during that time, we have helped many clients, just like you, get licensed, and seen them go on to achieve great things. To discuss your options, please contact a member of our team and take your dream of iGaming success to the next level!

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