iGaming Innovation Driving Market Growth in 2019
The iGaming industry understands it can’t stand still. The pace and scale in which the market is being disrupted underlines the competitive nature of the global market. From Canada to New Zealand, you can see revenues breaking new records through a combination of availability, popular appeal and innovation.
That coincides with other important factors such as the reputation of operators breeding trust amongst players, better online security and regulations in some regions supporting investment. That is adding to the excitement within the iGaming sector as it takes a leading role in the implementation of new ideas.
Technology is a major factor in the iGaming industry’s growth. Augmented reality and virtual reality have been around for a while but their implementation at online casinos has been limited. Yet, we’re beginning to see that grow as the availability and affordability of technology – such as the Samsung Gear VR – allows players to, for example, play poker in a VR environment.
This more specialized technology is adding to iGaming’s growth potential; but that’s made possible by the foundations already set. Operators are tapping into an enraptured audience that’s familiar playing via the smartphones 2.71 billion of us have in our pockets.
And every year these mobile devices get better and more powerful. The iPhone XS Max’s A12 Bionic processor with 6.5inch screen, and the OnePlus 7 Pro’s QHD display boasting a 90hz refresh rate showcase some next-generation mobile gaming power. And accordingly, they’re allowing developers in the iGaming world to deliver bigger and better games
The iGaming industry possesses a worldwide audience. These players are able to indulge in their favorite games through a mobile device or tablet and internet connection. It’s that easy. And that’s presented a challenge to regulators who don’t have traditional borders to, for example, separate the casinos of Nevada from conservative neighboring states in the USA.
That’s necessitated a more progressive approach from lawmakers. In the States, we’ve seen the groundwork laid for fundamental changes to sports betting legislation nationwide, while in New Zealand, reconsideration of now 16-year-old regulations are being discussed to create a more secure and safe online marketplace.
One of the ways this could be achieved is by reducing the amount of money Kiwi players spend at offshore online casinos (around $318 million between the beginning of 2018 and the summer of 2019), rather they’d spend it at nationally regulated operators instead. With the popularity of slots, sports betting, live poker and internet bingo increasing, this potential modernization of the law provides a further boost to operators in the country. It’s also why an increasing number of real money online casinos in New Zealand are open for business and want you to play!
The combination of these factors is accelerating iGaming upwards trend. Diversity of the platform is not only satisfying demand but providing a number of options for players – from single-player pokies to the immersion of a live blackjack dealer and multiplayer poker tournaments – and an endless stream of new and innovative variations (from Megaways slots to augmented or virtual reality).
Innovation is being witnessed two-fold: it’s in the technology that’s allowing us to play, and at the legislative level where a progressive, modern perspective is being considered for this thriving 21st-century phenomenon.