iGaming grew by leaps and bounds as an industry in the pandemic because of the lack of availability of physical brick and mortar betting avenues. The casinos had shut down, there were no games, and those who indulged in betting or gambling regularly resorted to iGaming to meet their needs. As of 2020, the iGaming industry is estimated to be worth around €50 billion (Exact Solutions).
BGaming recently released their Q3 reports of the trends in iGaming so far, and crypto gambling was a leading one observed in 2021. Read on to delve further into what the trends are and what they mean for the betting industry.
What is iGaming?
To put it in crude, simple terms, iGaming is online betting.
You can bet online on outcomes of games, play poker or any other skill-based game that involves monetary influx, virtual casinos, online gaming, sports betting, and more. Basically, anything that can be played online or you can participate in online that requires money and you can either win or lose it – it comes under the iGaming umbrella.
Is iGaming just a buzzword?
No, it’s a trend that’s here to last. The iGaming industry has grown to become one of the most popular online gaming options and it will only grow in importance over time. It’s mainly because of the sheer convenience it provides. Gamers everywhere have rejoiced since they could simply just log in from wherever they were, whenever they were free and play what struck their fancy. You don’t need an entire system, or a computer, or even a tablet to be able to enjoy the experience. All you need is a smartphone, an active internet connection and you’re set to go.
When it comes to online casinos, the players never felt the charm of participating up until now. They didn’t find the experience as engaging or rewarding as it would be to actually be in a casino and play blackjack, the slots, or even poker. The virtual experience simply wasn’t at par with the real one. The scenario is changing over time because of the advancements and innovations in mobile technology and the iGaming space. Augmented reality and virtual reality will soon manifest themselves in the online gaming experience for casinos and games to make it seem like you’re actually present while you’re sitting comfortably on your couch and participating. The lines between active and passive participation are blurring, and it only speaks positively for the iGaming sector.
Gaming providers are also getting on board with their audiences. The younger the audiences are, the more technologically savvy they become. This gives gaming corporations the chance to adapt, evolve and improve their experience in the virtual gaming sector and get their audiences more involved.
Current iGaming Trends
As of now, gamers can participate in online games and create their gaming persona with specializations and customizations that weren’t possible before. Their characters can reflect who they are truly and it can help them personalize their profile, experience and more. There are different themes, costumes, soundtracks, and more the user has access to now. There are also a variety of genres in terms of games that allow the gamers to participate in whatever strikes their fancy.
The best part?
All of it is portable. You can take your smartphone and go anywhere and join a game. Either you download an application and play offline or you join online and have a multiplayer experience. This has been incredibly helpful in the pandemic. Since social distancing became the norm and people were confined in their homes during the lockdown (something that seems to be a recurring trend over the last year and a half), they ended up relying on virtual spaces to help them maintain contact with people without actually making physical contact with them. As the people continued to adapt, they realized the benefits of this option and now they continue to participate virtually with ease.
Soon the days of physical casinos will be a thing of the past as players meet each other online and play a round of poker from the comfort of their homes. Nobody will have to plan a trip to the Las Vegas strip to enjoy the real thing. It will be right there, at the palm of their hands. No more betting on paper. No more travelling to watch a game and place your bet. You can do it all online!
The BGaming Analysis of iGaming Trends in the Third Quarter of 2021
BGaming, online slots and casino games provider, is one of the biggest iGaming platforms available in the market today. It is also the first online gaming platform that offers cryptocurrency as a form of crypto gambling.
Over the last few months, they’ve been conducting a thorough analysis of what has been occurring in the iGaming industry and their data analytics services have come up with a list of trends they have observed to help forecast the future of virtual gaming and iGaming.
The trends they have observed are as follows:
The use of cryptocurrency in the iGaming industry is on the rise
As of November 2021, the total cryptocurrency market cap was valued at $3.3 trillion (Aljazeera). The unprecedented rise of cryptocurrency is something, unlike anything the world has seen before, especially for an industry that is merely a decade old. The concept of digital currency is getting normalized rapidly, and of course, this has seeped into the online gaming world.
BGaming offers players the opportunity to play at their virtual casinos using cryptocurrency, giving rise to the crypto gambling industry. The most popular cryptocurrency still continues to be Bitcoin, but the fastest growing one in the last three months was noted to be Litecoin. There are also predictions that state that Litecoin will soon become Bitcoin’s biggest competitor, but that is left to the people and the value they hold for the digital currency.
The appeal for crypto gambling lies within the appeal for cryptocurrency in general. The interest in the field is growing and normalizing at a rapid pace, pushing users to participate and play using crypto. BGaming also offers its users some explosive winnings – a quick and easy way to increase the value of their portfolio, which draws the players in even more.
The younger audience in the iGaming platform is growing with time
Another trend observed in the third quarter was the increase in the number of people in the younger age bracket using the platform. The analysis showed that there was a spike in the young adult audience on the BGaming platform by 6%(Gambling Insider) in the last quarter alone.
What does this mean?
It means that the current virtual gaming scenarios and platforms that young adults use just aren’t cutting it anymore. They are looking at newer sources of entertainment, and iGaming is one of them. Since the lockdowns began in 2020, and continue to occur in different parts of the world due to the multiple variants and strains of the Coronavirus, children have been forced to stay at home and entertain themselves. The average screen time has increased drastically for young adults and teenagers because of this, by increasing from 3.5 hours in a day to more than 5 hours every day.
Clearly, they are expanding their virtual horizons in terms of gaming, and BGaming has plans to create a more widespread database by catering to their new and growing audiences with time.
Mobile gaming will continue to grow as an industry
Tablet and computer gaming continues to get sidelined as people of all ages stay fixated on their phones. Since all their modes of communication are already on their handheld device, it makes sense for them to use it for gaming too. The world of mobile gaming will continue to grow, and the entire gaming experience will evolve with it. Nobody wants to carry around multiple devices to do different things at once. It only makes sense to have everything available on a singular device – and hey, if it fits in your pocket or handbag, why not? The audience is welcoming the change with arms wide open.
The fastest-growing slot on BGaming is the Aloha King Elvis
Aloha King Elvis is based on the Elvis Frog in Vegas slot, which offers players the chance to multiply their winnings dramatically. The sheer appeal lies behind the simplicity of the game and the chances of winning big. BGaming released Aloha King Elvis in Q3 itself, and it has already managed to nearly catch up with the 11 games they have released so far in 2021 in terms of popularity. There are three types of jackpot that users can play as well as two types of free spin rounds which attracts them even more. They can easily dramatically multiply their winnings and grow their portfolio – it’s what makes it so exciting to play.
Read also: 4000 GBP Rise in Bitcoin Price – Binance Exchange Ban in the UK
Final Thoughts
The iGaming industry is taking over the virtual gaming arenas and will slowly become the most popular way of engaging in online betting for players. BGaming has been a pioneer in this field and continues to offer its players interactive experiences with the help of its innovative games and products. They have also partnered with hundreds of casinos, making the entire experience seem more realistic for their players.
