What is iGaming? Unmasking the Thrills, Trends, and Titans of the Industry

17 August 2023
Jakub Urban
Jakub Urban
Marketing manager
Back to all blogposts

Contents

  • Intro

The iGaming industry is a vivid paradigm of digital technology revolutionizing traditional gaming. This dynamic sector, part of the growth of the online entertainment industry, encapsulates a wide variety of gaming forms, making it a complex, constantly evolving environment.

The birth of this industry brought about a significant shift from land-based gaming to the digital realm, driven by the increasing accessibility of the internet and the rise of mobile gaming. These advancements have led to the transformation of the betting and gaming industry, facilitating their entry into the mainstream, where they continue to gain momentum.

In the heart of the industry lie various sectors, from online casinos and sportsbooks to virtual poker rooms and lottery sites. Each sector presents unique challenges and opportunities, demanding innovative software development solutions to enhance the gaming experience and meet users’ ever-evolving preferences.

The pace at which the iGaming business has grown and evolved is truly remarkable. Initially perceived as a niche, it’s now a major player within the global entertainment industry. This is largely attributable to the industry’s ability to adapt to technological advancements, regulatory changes, and market trends, which have been key drivers of its phenomenal growth.

iGaming companies operate in an exhilarating environment, driven by constant change and the need for adaptation. The constantly evolving landscape of online gambling offers a fascinating study in innovation, competition, and growth, where the only constant is change.

In the following sections of this article, we will delve deeper into this dynamic industry, exploring the spectrum of iGaming apps, shedding light on the influential brands driving the market, detailing key industry events, and presenting an analysis of current trends and predictions. Stay tuned as we unmask this exciting industry’s thrills, trends, and titans.

What is iGaming? – The Definition

iGaming, often referred to as online gaming or i-gaming, is defined as engagement in wager-based games through digital platforms. This term encompasses a broad spectrum of activities, bridging the gap between traditional, land-based gaming and its new, digitally advanced counterpart. The definition of iGaming includes but isn’t limited to, online sports betting, poker, casino games, and lottery. The advent of the new iGaming era underscores the evolution and expansion of gaming in the digital age, blurring the lines between online and land-based gaming experiences.

Many Faces of iGaming Business: From Sportsbooks to Online Casinos

As we delve deeper into the fascinating sphere of iGaming, it’s important to understand the diversity it brings to the gambling industry. Just as ‘iGaming’ is defined by its broad scope, so are the different forms it can take. Here, we’ll navigate through the most prevalent forms of iGaming, each with its unique charm and appeal.

Sports Betting Platforms

As iGaming is defined, sports betting is an integral component. Sportsbooks, particularly Web and mobile apps, provide an interface for users to engage in online betting. The platforms offer betting on a diverse range of sports and leagues globally. The odds types can vary, and data providers supply real-time information to keep bettors updated. Key to their success is customization – the ability for a user to personalize their experience, and a well-designed UX/UI that ensures easy navigation and engagement. Security is crucial, especially with real-time transactions, and payment options need to be diverse for global accessibility. Lastly, each platform must comply with different law restrictions based on their operating regions.

Online Casinos

Online casinos, both web and mobile apps, represent a significant sector in the iGaming industry. These platforms host a wide array of online casino games, with some offering custom game development and integration with various game providers. Engagement is heightened with intuitive UX/UI design, with some platforms using game aggregators to provide an extensive collection of games. White-label casinos allow for rapid entry into the market under a recognized license, facilitating easier compliance with law restrictions. Just like online sportsbooks, casinos prioritize secure payment options and robust security measures to protect user data and transactions.

Lotteries

Online lottery apps offer players an accessible way to participate in various lottery games. Lottery operators must ensure a seamless UX/UI design to simplify ticket purchasing and keep players engaged. Security is also paramount, given the nature of transactions, and diverse payment options accommodate a wider audience. As with all iGaming software, compliance with law restrictions based on geographical operations is crucial.

Other

Other forms of iGaming apps include virtual sports betting platforms, which simulate sports events and allow betting on the outcomes. Bingo and instant win game apps also fall under the iGaming umbrella, providing users with quick, engaging gaming experiences. There are also dedicated poker apps, offering a variety of poker games and tournaments for players of all skill levels. All of these apps require well-designed UX/UI, robust security measures, diverse payment options, and adherence to legal regulations in their respective jurisdictions.

The Monumental Impact of Software Providers on the iGaming Sector

In the ever-evolving landscape of the iGaming sector, software providers are the indispensable pillars supporting its continuous expansion and innovation. By pioneering cutting-edge technologies and solutions, they help shape the modern face of the gambling market, whether it’s developing the first online casino website or integrating emerging technologies like blockchain and cryptocurrency into their platforms. Here’s a look at the benefits these software suppliers bring to the iGaming industry.

Tech Stack Upgrade

The choice of tech stack is fundamental to the success of any iGaming platform. Software experts offer the opportunity for platforms to upgrade their tech stacks, optimizing performance, user experience, and scalability.

Establishing a Presence in New Markets

From regulated sports betting in the U.S. to the booming eSports market in Asia, software providers can assist iGaming companies in establishing a presence in new and promising markets, conforming to local regulations and cultural nuances.

Expanding an Offering

Whether it’s adding the latest online slot game or integrating a new sports league into the betting lineup, software development agencies enable iGaming platforms to diversify and expand their offering, keeping them fresh and appealing to users.

Increasing the User Base

With advanced analytics and SEO tools, software developers help iGaming companies attract and retain a larger user base, driving growth and revenues.

Increasing the Flexibility of the Product

Software companies enable iGaming businesses to increase the flexibility of their platforms, offering solutions that adapt to the diverse needs and preferences of their users, from desktop to mobile gaming.

Higher User Engagement Rate

By providing engaging game designs and interactive features, software development completes the gaming experience, leading to higher user engagement and satisfaction rates.

Multiple Customization Options

From user interfaces to game rules, software providers offer multiple customization options, allowing iGaming companies to tailor their platforms to their specific brand identity and target audience.

Stand Out from the Competition

With the right software partner, iGaming companies can differentiate themselves in a crowded market, providing unique features and functionalities that set their platforms apart.

All types of Integration API Gateway

With robust API gateways, allowing seamless integration with various third-party services, including data feed providers, league/sports providers, payment systems, and other backend services you can easily integrate with all kinds of third-party instances.

Licensing: The Vital Role in iGaming Success

In the iGaming industry, obtaining a license isn’t just another bureaucratic step – it’s an essential part of operating a legal, safe, and secure business. The term ‘iGaming’ refers to all types of betting on the internet, but the legality of these operations can vary greatly depending on the jurisdiction.

In many US states, for example, each state’s gaming commission oversees the regulation of online gambling, from lotteries and bingo to poker and sports betting. Each commission has its own set of rules and standards to ensure the integrity of gaming operations within its territory.

On the other side of the pond, the UK Gambling Commission regulates all forms of gambling in the UK. It ensures that every operator adheres to the principles of fair play, protection of vulnerable people, and prevention of crime related to gambling.

Similarly, the Malta Gaming Authority (MGA) licenses many online gambling companies operating within and outside the EU due to the country’s favorable taxation laws and comprehensive regulatory framework.

One of the significant challenges for iGaming companies is navigating this maze of regulations, which is where software providers play a pivotal role. They offer tailored solutions that not only cater to different markets but also comply with the specific regulations of each jurisdiction. Through software that integrates responsible gaming tools, KYC protocols, and geolocation technology, they help businesses create products that align with the regulatory landscape.

Software providers ensure that iGaming operators can focus on delivering exciting gaming experiences, secure in the knowledge that their operations adhere to local laws and regulations. This ensures the legalization and regulation of the iGaming industry continue to serve its purpose – providing a safe, secure, and fair environment for all players.

Statistics, Trends, and Predictions: Decoding the Future of iGaming

As the iGaming industry continues to evolve at a rapid pace, understanding the latest data, trends, and forecasts is crucial for all stakeholders. Let’s delve into the fascinating world of iGaming statistics, trends, and predictions.

The iGaming Industry today

Recent figures reveal a vibrant and booming industry. According to a report by Grand View Research, the global online gambling market size was valued at USD 53.7 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027. While traditional brick-and-mortar casinos are still popular, the convenience, variety, and innovation of iGaming are fueling its growth.

Moreover, the transition to mobile gaming continues to accelerate. One of Statista’s reports shows that as of the third quarter of 2020, mobile devices accounted for 56.2% of total gaming time worldwide, a trend expected to persist and grow.

Current Trends Shaping the iGaming Industry

The iGaming industry is a melting pot of technology, innovation, and user experience design. Some of the key trends currently shaping the industry include:

Live Dealer Games: Thanks to improvements in streaming technology, live dealer games that replicate the feeling of being in a physical casino are becoming increasingly popular.

Cryptocurrency in iGaming: More and more operators are accepting cryptocurrencies, offering an anonymous, secure, and quick way to deposit and withdraw money.

Virtual Reality and Augmented Reality: These technologies are gradually seeping into the iGaming sphere, enhancing user experience by making it more immersive and interactive.

Regulation: The trend towards more widespread legalization and regulation continues, opening up new markets for operators.

Overview of Various iGaming Apps: Revolutionizing the Online Gambling Experience

As the online gambling industry continues to evolve and expand, several iGaming apps have emerged as market leaders, transforming the gaming experience with their unique offerings and innovative features. Here, we look at five such prominent iGaming apps, each leading the way in their respective domain.

DraftKings – Reinventing Sports Wagering

As one of the frontrunners in the online sports wagering scene, DraftKings is making waves with its comprehensive coverage of various sports and leagues globally. It offers users the chance to bet on their favorite sports events with real-time updates and competitive odds. The app stands out with its streamlined UI, promotional offers, and unique features such as live streaming of sports events. DraftKings is revolutionizing sports betting by making it a more immersive and dynamic experience.

PokerStars – Bringing the Casino to Your Device

PokerStars, a dominant name in the online casino industry, offers a vast range of games, including poker, blackjack, and roulette. Its key selling point is the live casino feature that recreates the atmosphere of land-based casinos, delivering a thrilling, real-time gambling experience. With regular tournaments, diverse game offerings, and advanced security features, PokerStars is raising the bar for online casinos.

Bet365 – A Comprehensive Betting Platform

Bet365 is a multi-faceted platform that caters to all forms of online wagering, from sports betting to casino games and even bingo. Its exhaustive selection of betting options, easy-to-navigate interface, and live-streaming services make it a favorite among gambling operators and users alike. Bet365 exemplifies how diversity and accessibility can boost user engagement in the iGaming world.

Jackpot City – A Virtual Vegas Experience

With an impressive array of slot games, table games, and live dealer games, Jackpot City offers an enticing virtual gambling experience reminiscent of Las Vegas. Its progressive jackpots, reliable customer support, and top-notch graphics are compelling features that have earned it a prominent position in the online casino industry.

BetFan – Raising the Bar for Sports Betting

BetFan has quickly established itself as a game-changer in the online sports betting arena. Hailing from Poland, the sportsbook offers an extensive selection of sports and leagues, accompanied by competitive odds. The platform stands out for its user-friendly, engaging interface, particularly within live betting.

Its unique offering is the BetGames feature, providing an alternative live-draw games experience. Alongside virtual sports betting, this showcases BetFan’s dedication to diversifying the betting experience. With robust security measures and a variety of payment options, BetFan is leading the way in customer satisfaction and innovation within the sports betting industry.

These apps have set a new standard for the iGaming experience, each carving out a unique niche in the online gambling industry, and setting the stage for the future of iGaming.

iGaming Events: Essential Catalysts for Growth and Innovation

Grasping the iGaming industry’s complexity and vibrancy involves more than monitoring evolving trends, examining diverse apps, and acknowledging technology’s transformative influence. To genuinely appreciate and flourish in this swiftly progressing sector, immersion in its signature events is indispensable.

For industry members, active participation in iGaming events is as fundamental as keeping abreast of the latest technological progress. These events provide an opportunity to dive into the industry’s core, where learning, networking, and collaboration are the norm.

For iGaming operators, these gatherings serve as invaluable wellsprings of information about emerging trends, avant-garde technology, and the prevailing regulatory milieu. They present a platform to exhibit products, glean wisdom from industry leaders, and gain a broader understanding of their target market’s needs. Additionally, the networking prospects at these events are priceless, paving the way for forming partnerships, investigating collaborative opportunities, and engaging in productive dialogues with industry peers and titans.

Attendance at these events could spell the difference between merely surviving in the iGaming landscape and truly flourishing within it. It’s within these forums that innovative ideas take root, alliances are crafted, and the iGaming industry’s future is charted. Irrespective of whether you’re a seasoned player or a novice in the iGaming sector, these events carry the potential to propel your venture to unimagined heights.

The growth of the iGaming industry today is inextricably linked with these events, which are rapidly growing in popularity. They form the pillars supporting the gaming industry, driving forward its evolution and expansion.

ICE London (International Casino Exhibition)

ICE London, slated for February 2023, stands as one of the paramount events in the iGaming industry calendar. Organized by Clarion Events, known for its expertise in curating influential international events, ICE London marks a crucial gathering point for industry professionals.

Over its duration, ICE London is expected to welcome more than 35,000 attendees, making it one of the largest iGaming industry events globally. The event will feature a comprehensive program tailored to offer a 360-degree perspective of the industry. It comprises a variety of sessions, including informative conferences, innovative product displays, and insightful seminars – all focusing on regulated online gaming environments and their evolving dynamics.

Special attractions at ICE London 2023 included a Startup Hub for budding iGaming businesses, a Lottery section dedicated to innovations and advancements in the lottery segment, and a Tech Futures section that highlighted the cutting-edge technologies poised to disrupt the iGaming space.

For networking, the event offers several tools and options. These include a Networking Bar, designated networking areas within the exhibition, and the ICE London app, which allows attendees to connect and schedule meetings ahead of time. An online networking portal is also provided for participants to connect and converse pre-event, offering an avenue to make the most of their time at the exhibition.

Apart from these, ICE London also features a unique Pitch ICE platform, where startups can present their innovative ideas to a panel of judges and the audience. The best concepts get the chance to be incubated and might even secure funding.

iGB Live!

The iGB Live! event, scheduled for July 2023, is a significant highlight in the iGaming calendar. Organized by iGaming Business, a respected name in the provision of business intelligence for the iGaming industry, iGB Live! continues to set a precedent in bridging the gap between operators, affiliates, and suppliers.

The event is set to welcome more than 5,000 attendees, making it an influential platform for knowledge sharing and networking in the iGaming sector. With a robust program packed with insightful discussions, cutting-edge product showcases, and thought-provoking presentations, the industry is expected to receive a significant boost in innovation and growth.

iGB Live! 2023 is also renowned for its variety of special attractions. The event will feature a Start-up LaunchPad, offering fledgling businesses an invaluable opportunity to present their ideas and receive feedback from leading industry figures. Additionally, the event offers the exclusive iGB Affiliate Zone, where affiliates can meet operators and understand the potential to ‘bet on the outcome’ of fruitful partnerships.

Networking on iGB Live! goes above and beyond to facilitate connections. The event includes a series of structured networking sessions, pre-event matchmaking tools, and networking breaks designed to maximize the opportunities for forging new partnerships. In addition, attendees can use the official iGB Live! app to connect with fellow participants, schedule meetings, and stay updated on event happenings.

Global Gaming Expo (G2E)

Global Gaming Expo (G2E) 2023, organized by the American Gaming Association (AGA) in partnership with Reed Exhibitions, is one of the most significant iGaming industry events on the calendar. The event, set for October 2023, serves as an essential hub for both established and emerging professionals in the industry.

With a previous record of over 27,000 attendees, G2E is not just an event – it’s a vibrant ecosystem that brings together the most innovative and influential minds in the iGaming sector. Its program features a series of interactive conferences, keynote speeches, and panel discussions that provide attendees with a comprehensive understanding of the industry, including how to navigate and succeed in new iGaming markets.

The key attractions of G2E 2023 include the Innovation Lab, where cutting-edge technologies and breakthrough ideas come to life, and the New Product Zone, showcasing the most recent advancements in iGaming software, systems, and services. Not to forget the G2E Asia @ G2E Vegas, a special segment focusing on the dynamic Asian iGaming market.

In addition to the structured networking sessions and interactive roundtables, the event features the exclusive G2E Mobile App that facilitates connections among attendees, exhibitors, and sponsors. With the G2E Matchmaking Program, attendees can easily schedule one-on-one meetings to maximize networking opportunities.

SiGMA (Summit of iGaming, Malta)

SiGMA, the Summit of iGaming in Malta, is an unmissable event in the iGaming calendar. Scheduled for November 2023, the event is organized by SiGMA Group, a Malta-based company known for its significant contributions to the world of iGaming, fintech, and blockchain.

Each year, SiGMA brings together a crowd of over 15,000 attendees from across the globe, offering a unique platform for learning, networking, and showcasing the latest in the iGaming industry.

The event program is a rich tapestry of keynote speeches, thought-leader presentations, and panel discussions that tackle the industry’s hottest topics. From exploring advancements in iGaming technology to discussing the regulatory landscape in Malta and beyond, SiGMA provides a comprehensive and in-depth overview of the iGaming sector.

Special attractions at SiGMA 2023 include the Start-Up Pitch, a forum for innovative start-ups to present their ideas to a panel of industry experts and potential investors. The event also features the Awards Night, a celebration of the finest in iGaming, where the industry’s best-performing companies and individuals are recognized.

SiGMA provides numerous networking opportunities, including networking drinks, sector-specific conferences, and private events. The event’s official app also allows attendees to connect with each other, schedule meetings, and stay updated on the event’s happenings.

Unleashing the Power of iGaming with CrustLab

As we’ve uncovered in this comprehensive look into the iGaming industry, its potential is undeniable. However, to truly tap into the vast opportunities this industry provides, a capable and experienced partner is essential. This is where CrustLab steps in.

CrustLab has a proven track record in the iGaming industry, boasting years of experience, extensive knowledge, and expertise in creating cutting-edge iGaming solutions that stand out in a crowded market. We bring to the table innovative technologies, an understanding of the ever-changing iGaming landscape, and a commitment to delivering exceptional results that drive your business forward.

Whether you’re seeking to launch a new iGaming venture, upgrade your existing platform, or gain a competitive edge in this dynamic industry, CrustLab is your go-to partner. Our team is skilled in crafting solutions that are not only technologically advanced but also comply with all regulatory requirements, ensuring your iGaming business thrives in any market.

The future of iGaming is filled with excitement, growth, and potential. Don’t just be a spectator—be a part of it. Get in touch with CrustLab today and let’s bring your iGaming vision to life.

Contact us and get a free project estimation!

Let’s talk

Read related articles