The COVID-19 epidemic, which the World Health Organization has classified as a pandemic, is presently impacting practically every facet of life. The technique of social distance, which is regarded as a vital approach for keeping the virus under control, is one of the tactics employed to combat this worldwide catastrophe. Our everyday habits throughout the world have radically changed in only a few weeks.
The iGaming business looks to be more robust than many other economic sectors that have been severely impacted by the epidemic. Employees working from home to assist game development and digital releases have helped most online casino software suppliers, publishers, and operators stay solvent. But what modifications were made in this business that allowed it to thrive instead of strive? The following are some of the most prevalent causes for the expansion of this thrilling industry:
1. The Evolution of Fantasy Sports and Esports
According to the Global Gaming Industry Report, e-sports and fantasy gaming companies still have ambitions for the future of gaming. They’ve been able to get additional cash, which will help the industry expand. Since there is huge potential in this area, Activision (ATV) and Electronic Arts (EA) are aiming to boost market penetration. Approximately one-third of e-sports enthusiasts in the US participate in online amateur competitions.
Furthermore, as more states and nations legalise fantasy sports betting, the industry’s future has become clear. Esports is clearly one of the most appealing industries for publishers, and its development is expected to be sustainable in both developed and emerging economies in the next few years.
2. Indie Studios are Breaking New Ground with Innovative iGaming Software.
While the iGaming scene has long been dominated by a number of extremely successful and mature organisations, indie studios (independent game development companies) have always done their hardest to gain new clients.
As a result, smaller studios frequently develop customised and integrated casino and sports betting software, allowing players to enjoy both sports betting and casinos on the same platform.
3. Virtual Reality Is The Future Of Gaming
Technology is a crucial growth driver in the gaming industry. Face and sound recognition, gesture control, and virtual reality (VR) have drastically transformed iGaming and enticed a big number of people to play these games. Since VR allows you to not only observe but actively engage in the game, it gives an immersive experience. 360-degree video content and solid images are used to create a sense of physical presence. Additionally, it introduces a new level of interactivity players may now take control of the game environment and customise it at their leisure.
Furthermore, clients will be lured in by fresh experiences, which will help to enhance one’s business. As a result, there’s a chance it’ll boost sales. When someone experiences a virtual reality game for the first time, there’s a decent chance he or she will become a long-term customer. Virtual reality’s sense of presence and unique sensations will surely improve gaming experiences. Many video games have been converted for viewing on a large screen. They created a short VR game to showcase the new Coco animation. In the future, we’ll most likely see more of these innovative marketing commercials.
4. Blockchain and 5G Open Up New Horizons
Virtual reality and augmented reality aren’t the only technologies that might be called the future of gaming. The influence of blockchain technology on games also offers a unique view on the industry’s future development. Decentralized asset exchanges, verified scarcity of virtual products and collectibles, quick and secure payments, and the opportunity for game producers to monetize their games are all features that blockchain provides to gamers.
Finally, 5G is available, providing 10 times the speed of 4G. Lagging and buffering broadcasts will be a thing of the past with 5G, especially for high-loaded live casino feeds and playing on the move. So far, China, the United Kingdom, and the United States have said that 5G will be available in 2020, providing better online casinos and 4K streaming to everyone.
5. Better Bonuses For Online Casino Players
The UK Gambling Commission (UKGC) treated casino bonuses, their advertising, and related terms and conditions very seriously in 2019. In summary, the commission proposed new regulations for online gambling in the United Kingdom in order to make things more fair, safer, and profitable for players.
Players may now anticipate better casino bonuses that are tailored to their needs, are simple to comprehend, and can be withdrawn at any time. Newer online casinos began to provide gambling bonuses with significantly reduced or non-existent wagering requirements. This has primarily been accomplished by providing free tickets or free spins in lieu of cash bonuses, and players are free to withdraw as they like.
6. Rising Internet Usage Drives The Demand
More than 1 billion individuals (a quarter of all internet users) watch live streaming of other people playing games. The number of internet users in developing markets has increased dramatically in recent years as a result of the global spread of smartphone manufacturers offering low-cost smartphones and local government investment in mobile internet infrastructure, which has resulted in an increase in internet demand.
To highlight our forecasts for the gaming industry’s future, we’ve picked the following major themes to watch in the near future:
- Some of the most appealing industries for publishers are esports and fantasy gaming. In both established and emerging economies, they are expected to continue to rise in the future years.
- Virtual reality is becoming more accessible, attracting new customers and even serving as a new marketing tool.
- With quicker internet, safer payments, the capacity to appropriately monetize games, and more, blockchain and 5G provide new options.
- New restrictions restrict internet gambling by establishing norms that are more advantageous to participants.
With the virus affecting so many elements of people’s daily life, it’s just a matter of time until it affects most corporate sectors. However, the future of the iGaming business has become clear: it was built to prosper in any situation. With the assistance of sturdy items and cutting-edge technology that are blooming in the present day, one may work safely from home and gamble from any location.