We summarize a Slotegrator report on trends in online gambling – crypto growth, esports boom, expansion into Latin America, Africa. (Image Courtesy of Slotegrator)
The information I’m about to share comes from a recent report published by Slotegrator.
The company is a leading aggregator platform provider in the online gambling world that connects different parts of the industry, especially iGaming and sports betting.
Here at Casino Plus Bonus, we like to keep up with emerging trends, so I wanted to summarize some of what Slotegrator found for you all in the company’s most recent survey from which they created a PDF report.
It is clear from the information covering cryptocurrency and emerging iGaming, eSports betting and sports betting markets, Slotegrator has its ear to the ground.
That also includes when it comes to new developments in gambling globally. In this report, they cover stuff that I think gives a good sense of where things seem to be heading. This includes the growth of areas like crypto and esports betting, expansion into new markets, and more.
There’s an upbeat vibe in their findings – seems there’s still plenty of room for online gambling to grow and evolve in different ways. Which I imagine will create cool opportunities down the line.
Anyway, let me walk through the key things I took away from Slotegrator’s latest industry overview. Hopefully you’ll find this snapshot useful!
Crypto Grows in Popularity
Cryptocurrencies like Bitcoin have become very popular for paying on gambling sites. Up to 4 in 10 players now use them to play. This works well for people who can’t use regular money online. Most players are 25-35 years old. Surveys of the industry show most people think cryptocurrencies will keep catching on. Of course, here at Casinoplusbonus we also understand the important role crypto plays in the iGaming arena, especially from the many online casino reviews we cover.
NFT Prizes and Items Become More Common
Non-fungible tokens (NFTs) are digital items gaining popularity as prizes and stuff you can use in games. The NFT gaming market could be worth $15 billion by 2027. Companies like Caleta Gaming give out real NFT artworks when people play their slots.
“Provably Fair” Blockchain Games Build Trust
New blockchain games can prove they play fair, without cheating. This helps players trust them more. Companies like Macaw Gaming and Turbo Games are making these games and also encouraging responsible gambling.So in summary, blockchain is letting online gambling sites do lots of cool stuff – with payments, prizes, transparency about odds, and more. As these new things develop, blockchain seems likely to become more and more important.
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The Esports Betting Boom
Esports betting has totally blown up recently. One report says the market could be worth a whopping $3.2 billion by 2027. That’s some serious year-after-year growth of 10.45%. Industry folks say this matches up with esports becoming more mainstream popular, which opens up lots of money-making opportunities.
Young People Are Getting Their Game On
The stats show a full 37.5% of people placing esports bets are between 18-24 years old. This jives with how young audiences love their online entertainment and digital stuff these days. But get this – esports isn’t just for the Instagram generation. Half of bettors are over 25, meaning it’s getting popular across age groups.
Getting In the Game
In a survey, half of gambling sites said jumping into esports is mega important for attracting younger customers. That’s because the kids are all about fast-paced, immersive digital experiences nowadays, rather than old-school sports betting. Esports can bridge between the two worlds, helping sites expand their user bases.
The headline is that esports betting is booming hard, with young folks leading the charge. But its broader appeal means gambling platforms should seriously think about upping their esports game. This market has major growth runways ahead.
Global Expansion by Top Software Providers
Lots of online gambling outfits are now aiming to set up shop in new parts of the world. Many are looking at Latin America, Asia and some African countries that have put regulations in place. This suggests the industry is shifting focus to places they haven’t targeted much before that could be ripe for growth.
Asia and Africa Also on the Radar
Operators are also checking out markets like India, Georgia and Turkey in Asia. And in Africa, they’re honing in on regulated markets, with South Africa being the main one.
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What Some of the Players Are Up To
Here’s a quick rundown of expansion plans from a few companies:
- Amigo Gaming – Looking to push into Mexico and Brazil
- Turbo Games – Main targets are Latin America, Europe and India
- Macaw Gaming – Currently seeing good business out of Turkey, Brazil and parts of Europe
- 3 Oaks Gaming – Already in 9 different countries across Latin America, Africa and Europe. Still wants to expand more in Europe.
Latin America: Flavor of the Month
Latin America seems to be the hottest target right now. About 73% of companies surveyed said they either already operate there or want to soon. The big markets they’re eyeing are Brazil, Mexico, Colombia, Argentina, Chile and Peru. One forecast predicts online gambling revenue in Latin America could hit $3.4 billion by 2025. So the potential is clearly huge.
Brazil Growth Story
Brazil recently regulated online gambling and it’s already proving a hit. Casino apps there brought in over $90 million bucks in revenue last year. And over half of Brazilian adults placed a bet in the last 6 months – much higher than average.
Who Gambles Most in Latin America?
In the Latin American countries surveyed, Peru actually has the highest percentage of adults gambling – a whopping 82% in the last 6 months! The bottom line: Online gambling companies have Latin America, Asia and Africa locked in their sights now.
The fact that markets like Brazil and Peru are showing such strong appetite for gambling suggests these regions could present lucrative opportunities to tap into. So expect more operators to pivot strategies toward these emerging markets.
For the full report from Slotegrator you can request a download from the aggregator’s website here – iGaming in 2024 — what to expect in near future.
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