iGaming Industry Summary for 2020
Certainly, the pandemic posed hurdles for the iGaming industry. But if we consider the major changes and take a look at the global landscape will find out that it also brought some substantial improvements for the better.
When people were confined to their homes and could not visit their favorite local casinos or attend their favorite sports, they tried to replicate that experience and online sports betting became a popular way for entertainment.
From physical to online
A large number of people who would always use retail have been pushed to try online alternatives. They would probably not go back to retail lottery shops, casinos, and gambling venues but rather continue to use Sportsbooks and online casinos as solutions for their needs. The expansion and development of retail to online is one of the major changes in the gambling industry that the pandemic has only accelerated. Businesses that operated exclusively through retail shops have tried to leverage their online presence. During the multiple lockdowns and those who were already online have extended their offerings.
Read more about the Top 2021 trends in online casinos
In the past year…
More iGaming software providers and operators shifted their attention from bringing new brands. And the idea is to deliver creative content that would engage more iGaming players and increase user retention. There are other reasons for doing that besides the rising demand for content. Understanding the customers’ needs pushed the urgency of finding new smart ways to feed content and create user journeys, driving the need for automation to turn huge customer data into a valuable asset.
With the expansion of regulated territories, technology became a key enabler for growing the iGaming industry across geographies. At the same time adjusting to a wider range of consumer needs and behaviors. The adoption of new technology and software solutions has been sped up by the increased demand for digitalization in all fields. And logically this has triggered changes in the way many businesses operated by now.
Many will probably focus on AI, as a technology that can be useful in many aspects. Like not only collecting data and suggesting user preferences, but also for strategic automation, customer security, monitoring, and analyses. Others will enrich their white label solutions features‘ set with new functionalities, becoming more flexible and versatile. This will allow them to stay ahead of the competition.
One thing is for sure, technology enhancement will continue to be a highlight in 2021. And if you are planning to step into the big game and start your online gaming business, first and foremost you need to know how to choose an iGaming software provider for you and your needs. Ensuring a successful win-win case for both you and your supplier is a formula for success.