What’s Next for Online Gambling in 2024?

In 2023, the global online gambling industry was estimated to be worth over $95 billion and growing. Some statisticians believe this figure could increase to almost $140 billion over the next five years.

In the last decade, the industry has grown larger every year with online casino and sports betting leading the charge. This trend can be seen all over the world from Asia and Oceania to Europe and North America.

Canada, Australia, and Finland currently enjoy incredible success in market penetration while the USA, Japan, and Germany lead in revenue. Another region scoring high in both these areas, second globally in both, is the United Kingdom and Ireland.

The 2023 worldwide online casino market alone is worth almost $35 billion; the UK and Ireland represent around $7 billion. To put that into context, that’s 20% of global revenue generated by less than one percent of the world’s population.

Users across these European nations are being tempted in their droves by the UK and Ireland’s real money casino platforms. Indications suggest 2024 will see these trends continue as technology, attitudes, and continuing game development align to drive ongoing popularity.

Focus On 2024

Several aspects of the online gambling world are set to change and develop over the next twelve months. Technology will continue to progress, data will drive gaming and platform trends, and laws around the world will be modified.

Artificial intelligence is already having a huge impact on the gaming industry and this will only intensify. Growing focus on sustainability and security is also set to drive subtle, and not-so-subtle, changes in the industry.

Here are a few of the major factors and trends which are likely to impact online gambling in 2024:

Artificial Intelligence (AI)

The most noticeable impact of AI on online gaming will be increasingly tailored user experiences. Analysing and reacting to data in real-time will allow AI to adapt gameplay preferences for each user individually.

AI will also become integral to security and the fight against fraud or unfair practices. By monitoring patterns and behaviours on scales unimaginable for humans, AI will make online gambling safer and fairer than ever.

Live dealers

Ever since casinos first moved online, game makers have searched for new ways to replicate or replace the in-person experience. So far, attempts to introduce live dealers have varied in success, largely due to technological limitations.

Advances in displays, sound, speed, capacity, and now virtual and augmented reality look ready to finally unleash this feature’s potential. 2024 could be the year in which digital casinos become as immersive as ‘real’ brick-and-mortar experience, perhaps even more so.

Cryptocurrencies

Hassle-free and secure transactions are one of the most important basic functions any user expects from an online platform. Due to the vast amounts paid in and out, online casinos have always been a target for financial criminals.

Today’s digital payments are far more secure than a decade ago, which was much safer than 10 years before that. Now, thanks to the blockchain technology behind cryptocurrencies, users have the opportunity to enjoy almost impenetrable security and complete transparency.

Social changes

The latest generation of gamers has been brought up to expect their online experiences to be social ones. While previous users may have been happy to play against the game itself, many younger users see this as inadequate.

Chat rooms, real-time voice or video conversations, global leaderboards, and online communities will all continue to develop in 2024. As VR and AR take hold, users could enjoy being ‘in a room’ with real players all over the world.

Smartwatches

Technological devices becoming increasingly miniature is not a new trend, but it is one we see in online gambling today. First it was desktops, then laptops, then phones and tablets, and now wearable tech like watches is getting involved.

There’s no denying a smartwatch interface will be too small for some games, and some players, but not for all. In an increasingly on-demand, anywhere, anytime world, we should expect access to online gambling through smartwatches to increase in 2024.

Legal changes

Outside of technology, increasingly permissive attitudes towards gaming by nations around the world will have a big impact in 2024. Throughout history, most governments have continually evolved their approach to casinos, but the current trend is towards regulation, not prohibition.

Much of this is led by the realisation that huge revenues can be collected from online gambling for public spending. In both America and Europe, many older state laws in 2024 are being relaxed to encourage growth within the industry.

All this combined is likely to drive big improvements to many areas of online gambling and casinos in 2024. Where there is improvement, growth is likely to follow close behind, just as it has for the previous two decades.

In short, and to answer the original question, what’s next for online gambling in 2024 is incredibly exciting. Improved user experience and increased popularity seem certain, we just have to wait to see what shape that takes.

Source: pmnewsnigeria.com

About Post Author

Szarlot

I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry.

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Szarlot

I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry.