The Future of the iGaming Industry After the COVID Pandemic

The COVID-19 outbreak, which has been recognised as a pandemic by the World Health Organisation, is currently affecting almost every aspect of life. One of the strategies used to tackle this global disaster is the strategy of social distancing, which is seen as a critical way for keeping the virus under control. In just a few weeks, our daily behaviours have profoundly changed all around the world.

Many other economic sectors have been adversely damaged by the epidemic, but the iGaming industry appears to be more resilient. Most online casino software providers, publishers, and operators have stayed afloat thanks to employees working from home to assist with game development and digital releases. But what changes were made in this company that allowed it to prosper rather than struggle? The following are some of the most common reasons for this exciting industry's growth:

1. Esports and Fantasy Sports' Evolution

E-sports and fantasy gaming firms, according to the Global Gaming Industry Report, still have high hopes for the future of gaming. They were able to obtain additional funds, which will aid the industry's expansion. Activision (ATV) and Electronic Arts (EA) are attempting to increase market penetration because there is so much potential in this area. In the United States, almost a third of esports fans compete in online amateur contests.

Furthermore, the industry's future has become evident as more states and countries legalise fantasy sports betting. Esports is obviously one of the most interesting businesses for publishers, and its growth in both developed and emerging nations is projected to be sustainable in the next few years.

2. Innovative iGaming Software from Indie Studios is Breaking New Ground.

While the iGaming industry has long been controlled by a few large, well-established corporations, indie studios (independent game production companies) have always worked hard to attract new customers.

As a result, smaller studios commonly design customised and integrated casino and sports betting software, allowing players to participate in both sports betting and casino games on the same platform.

3. Virtual Reality Is The Game Of The Future

In the gaming sector, technology is a critical growth engine. Face and sound recognition, gesture control, and virtual reality (VR) have changed iGaming and attracted a large number of new players. VR provides an immersive experience because it allows you to not only witness but also actively participate in the game. To generate a sense of physical presence, 360-degree video footage and solid graphics are utilised. It also adds a new degree of engagement, allowing players to control and customise the game world at their leisure.

Clients will also be drawn in by new experiences, which will aid to grow one's firm. As a result, there's a potential that sales will increase. There's a good likelihood that someone who plays a virtual reality game for the first time will become a long-term customer. The sense of presence and distinct sensations provided by virtual reality will undoubtedly enhance gaming experiences. Many video games have been remastered for large-screen viewing. To promote the new Coco animation, they produced a short VR game. We'll probably see more of these creative marketing commercials in the future.

4. 5G and Blockchain Open Up New Horizons

Virtual and augmented reality aren't the only technologies that may be described as the future of gaming. The impact of blockchain technology on gaming also provides a unique perspective on the industry's future growth. Blockchain provides gamers with decentralised asset exchanges, verifiable scarcity of virtual products and collectibles, rapid and secure payments, and the ability for game developers to monetise their games.

Finally, 5G is available, with speeds that are ten times faster than 4G. With 5G, lag and buffering will be a thing of the past, especially for high-loaded live casino feeds and mobile gaming. China, the United Kingdom, and the United States have all stated that 5G will be accessible in 2020, allowing everyone to enjoy better online casinos and 4K streaming.

5. Better Bonuses for Players at Online Casinos

In 2019, the UK Gambling Commission (UKGC) took casino bonuses, their promotion, and the terms and conditions that go with them very seriously. In summary, the commission proposed new online gambling legislation in the United Kingdom in order to make things more fair, safer, and profitable for players.

Players can now look forward to improved casino bonuses that are targeted to their specific needs, easy to understand, and withdrawable at any moment. Newer online casinos began to provide gaming incentives with wagering requirements that were drastically lowered or non-existent. This has primarily been accomplished by offering free tickets or free spins in place of cash bonuses, with players having the freedom to withdraw as they see fit.

6. The Demand Is Fueled By Increasing Internet Use

More than a billion people (about a quarter of all internet users) watch other people play games live on the internet. Because of the global spread of smartphone manufacturers offering low-cost smartphones and local government investment in mobile internet infrastructure, the number of internet users in developing economies has expanded substantially in recent years, resulting in an increase in internet demand.

Epilogue

Esports and fantasy gaming are two of the most intriguing areas for publishers. They are projected to rise in the coming years in both developed and emerging economies. Virtual reality is becoming more widely available, luring in new customers and even serving as a new marketing tool. Blockchain and 5G offer new possibilities such as faster internet, safer payments, the ability to properly monetize games, and more. New regulations limit online gambling by setting rules that are more beneficial to players.

With the virus influencing so many aspects of people's lives, it's only a matter of time before it spreads to the majority of corporate sectors. The future of the iGaming industry, on the other hand, is clear: it was designed to thrive in every circumstance. One can work safely from home and bet from any area with the help of durable things and cutting-edge technology that are growing in today's world.