Posted in:

Key iGaming Trends and Statistics in 2023 

© by Shutterstock

The year 2023 became a fruitful period for the iGaming industry, marked by transformative trends and compelling statistics. From the surge of mobile gaming to the rise of metaverse casinos, the industry is undergoing substantial growth and diversification. Today we will analyse the main trends and statistics of 2023 related to iGaming platforms to analyse what we should expect from the industry in next year.

Regulation and Legislation

Regulation remains a linchpin for the iGaming sector, with H2 forecasting a global online iGaming market of $158 billion by 2028. Notably, 87% of this contribution will be from regulated markets. Compliance with regulatory standards is paramount for iGaming operators navigating this dynamic environment.

Virtual and Augmented Reality

The integration of Virtual Reality and Augmented Reality into iGaming experiences is gaining momentum. Projections by Grand View Research suggest that the global VR gaming market will soar to $92.31 billion by 2027, indicating a substantial shift towards immersive gaming experiences.

Rise of Mobile Gaming

Mobile gaming was prognosed to take centre stage, with an anticipated revenue surpassing $100 billion in 2023, as reported by Statista. The proliferation of smartphones has fueled this surge, offering unparalleled convenience for gaming enthusiasts on the move. The era of gaming on-the-go is firmly established.

Blockchain and Cryptocurrency

Blockchain technology and cryptocurrencies are leaving an indelible mark on iGaming. DappRadar reports a staggering 639% increase in the total value locked in blockchain games in Q1 2022 compared to Q1 2021, reaching $2.3 billion. The momentum of blockchain and crypto adoption is set to persist throughout 2023.

Social Gaming

The pervasive trend of social gaming continues to shape the iGaming industry. With an estimated 3.07 billion global social media users by 2023, according to Newzoo, social gaming platforms find an extensive audience eager for engaging and interactive experiences.

Live Dealer Games

The allure of live dealer games is on the ascent within the online casino realm. iGaming Business projects the live casino market to reach $3.7 billion by 2025, driven by players seeking a more authentic and immersive gaming atmosphere.

Complicated Loyalty Schemes

Loyalty schemes are undergoing a transformation, especially in crypto gaming platforms, incorporating elements like loot-box promotions, and investment opportunities. Staking, where users lock assets for a share of platform profits, adds an intriguing dimension to loyalty programs.

Player Behavior Focus

Operators are anticipated to shift their focus from product-centric to user-centric business models. The launch of mobile and smartwatch versions of casino and sports betting projects aims to attract audiences seeking seamless access to online gaming functionalities. 

Esports Betting

Esports betting emerges as a formidable sector within iGaming. Eilers & Krejcik Gaming estimates that the total esports betting handle will soar to $14 billion in 2023, doubling the figures from 2020.

Operational Refinement

In 2023, operators seek ready-made software providing real-time access to transparent project data. App developers are expected to prioritise metrics like game session length and bet count, moving beyond traditional financial KPIs.

In 2023 the iGaming industry stands at the intersection of innovation and consumer-centric evolution. Understanding and embracing these trends will be pivotal for businesses seeking to thrive in this dynamic and competitive landscape. Keep an eye on the following trends:

  • Regulation and Legislation
  • Virtual and Augmented Reality
  • Rise of Mobile Gaming
  • Blockchain and Cryptocurrency
  • Social Gaming
  • Live Dealer Games
  • Complicated Loyalty Schemes
  • Player Behavior Focus
  • Esports Betting
  • Operational Refinement

Understanding them will definitely benefit your iGaming business next year, allow you to gain new customers and put you ahead of the market. However, do not forget to ensure high operational efficiency, as this is a vital factor to guarantee the rise of every business.