Online Gambling Industry Trends in 2023

Jan 9, 2023 Artyom Ustinov
Table of Contents
Online gambling and gaming is an ever-evolving industry that incorporates sports betting, casino, fantasy sports and more. The growth of the gambling industry worldwide is exponential, blink and you’re playing catch up. The US is seeing a boom with sports betting and iGaming being regulated and legalized in more and more states which will escalate through 2023. When the Covid restrictions hit, the online gambling sector was one of the industries to see the biggest increases in revenue and customer base. Data, artificial intelligence, and algorithms are now taking over the gaming space as players become more and more sophisticated and competitive. So, what changes and online gambling trends might we expect to see in 2023?

Cryptocurrencies and payment methods

Bitcoin, Ethereum, Litecoin and more. Cryptocurrency and NFTs have hit the internet investing space hard over the last five years, eSports is still growing and the Metaverse is becoming the new reality for Generation Z. The NFT bubble hasn’t burst yet with big gambling operators like DraftKings adding marketplaces to their Fantasy and sports betting products. Several of the top sportsbooks, online casinos and betting sites worldwide are implementing Cryptocurrency as a method to quickly deposit and withdraw funds to and from their websites. Limits tend to be high for Cryptocurrency payments such as Bitcoin and it’s quick and easy to deposit. Expect more and more betting and gaming sites to follow this trend in 2023. Gambling is not the only niche that’s evolving. Efficient payment methods are an important factor for players choosing their next sportsbook or online casino and easy transfer of funds is a popular new trend. From Revolut, PayPal and other Ewallets such as Interac, to regular online banking methods including Visa and Mastercard, it’s vital to keep developing payment options to make it as easy as possible for clients to fund their gaming accounts. Newer technology will be on the rise in 2023 as society gears closer towards going cashless.

Mobile and live Betting Trends

There is a new trend emerging where over half of online bets are now taken live inplay. This has been claimed by several studies from the big betting operators such as Bet365. Mobile betting apps are being primed and optimised for live streaming and live betting experiences and these apps are being used as an added incentive for sports bettors to sign up and play on-the-go. 80% of gamers now prefer gambling on mobile devices over the traditional desktop setting. Live betting gives the punter the opportunity at beating the odds and throws up alternative markets such as prop bets which adds to the excitement of watching sports. It also enhances the expected value of the bettor or gives the casino player more outs to win. In 2023 watch out for the likes of in-play Same Game Parlays (SGPs) being offered by sportsbooks which will be an increasingly popular trend.

Live dealer and Virtual Reality Gaming

What makes a good user experience in online gaming in 2023? Many gamers like to be around other people and while VR or live dealers’ games may not be exactly that, it’s the next best thing. Play from the comfort of your own home, albeit wearing the head gear and eye wear that Virtual Reality gaming requires. Online gamers can crave the personal touch and human element that’s found in traditional land based casinos. With VR or augmented reality gaming you can feel like you’re right there in a physical casino playing against other players. New innovations are happening as we speak in the space and technology like smart watches and VR headsets are being developed as part of a trend for augmented reality gaming and Metaverse casinos. “Games must be optimized for VR headsets, and there must be features showcasing the benefits of this technology. The market needs time to prepare, but it will be a trend in 2023” – Sergey Shibkih – SoftGamings

Gambling Promotions and Bonuses

What better way to entice new customers to sign up to a sports betting site or online casino in 2023 than to offer a first-class welcome offer and ongoing promotions and bonuses? This is a huge trend that hit the US gambling industry in 2022 and will carry on as a trend in 2023 as the sports betting and legal online gambling environment in the US, Canada and throughout the Americas continues to grow. We can see first deposit matched bonuses as high at $2k and above in places. The brief for these big gambling sites is to promote their bonuses and features hard to bring in as many new clients and betting accounts as possible. Gambling Affiliate businesses are turning over vast sums of money across the US and Canada promoting offers, and these sign-up bonuses and welcome offers are not going anywhere for a while. Rollover and wagering requirements play their part in making sure all revenue is paid back with interest.

Responsible Gambling and player safety Trends

Responsible gambling and player safety in a new technological era is a major area of focus and debate in the online gaming space. It’s not just important but it’s mandatory for online gambling sites to promote and educate people about responsible gambling and provide resources for help and information. Any site that promotes gambling or online gaming must now also adhere to rules and regulations and promote healthy responsible gaming that includes providing resources, links and help lines. Educational material and content are becoming a unique selling point with up-and-coming sports betting sites. Gaming platforms are implementing player protection tools and options such as selfexclusion and daily or weekly spending limits. Player safety methods while browsing the websites such as SSL encryption and data protection are being used for extra digital security. New software is being implemented for vetting purposes and to stop fraudulent players. Know your customer (KYC) checks and proof of income compliance are examples of new safety measures on the roster.

Final Thoughts about the future of online gambling

Data and AI are taking over in all walks of life. Players are becoming more and more stats orientated and hypnotised by the numbers. An immersive online gaming experience is craved by the recreational gamblers, and online gambling businesses are always on the lookout to develop the next big thing. We can expect to see many changes and emerging trends in the online gambling industry throughout 2023 and beyond.

Artyom Ustinov

Artyom is Head of White Label & Turnkey Solutions and has been working in complex B2B/B2C sales, as well as business development and management consulting in iGaming for more than 10 years.

Together with the Key Account Management Team, he has helped over 100 start-ups and experienced gaming companies to launch their projects with SoftGamings.

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