- Current Trends In The Casino Industry Entertainment
- Casino Gaming Industry Trends
- Current Trends In The Casino Industry Trends
- Current Trends In The Casino Industry Today
- Casino Industry News
The global casino and gambling industry has become huge and generates billions of dollars per year in revenue. Globally, casinos had a gross gaming yield of about $115 billion in 2016, and it is forecast according to Statista.com is to reach $130 billion in 2019. In 2015, the gross gambling revenue (GGR) in Europe was 18 billion euros in Italy, 17.9 billion euros in the UK, and around 8 billion euros in. From the technology trends above, you can observe that technology is critical in online casino operations. Online casino platforms like Betway must embrace technology to survive in the industry. On the other hand, gamers should prepare to reap the benefits of fierce competition among these online casinos. Dec 14, 2018 News Last week, the Division of Gaming Enforcement in New Jersey announced figures that provide more evidence that interest in gaming and casino entertainment continues to rise. According to the figures, casino revenue in October was up by more than 13% from the year before. In addition, the commercial casino sector—with 465 casinos—logged its fourth consecutive year of gaming revenue growth and outpaced the national economic growth rate in 2018. Global Casino Gaming Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects.
With the passing of time, the gambling and gaming industry have exhibited numerous transformations over the course of the past decades. Now, in the modern world, these changes remain and have evolved to include technological advancements. With the the commencement of crypto currency in casinos lat year, many forecast that this year should be another interesting one that is set with new trends to redefine and transform complete areas of this huge industry. Here under are some of the top gambling and gaming trends for online and real casinos in 2021 and the top statistics which may impact the entire casino industry:
Crypto Set to Dominate Around the Gambling World
Cryptocurrencies will continue to dominate the gambling industry with many online platforms accepting the crytpo this year. From deposits, withdrawals, and gameplay in Bitcoin and other digital currencies, many people enjoy and prefer these transactions because of the security and anonymity. Traditional payments will still remain an option for the biggest gambling sites, but now, cryptocurrencies are slowly replacing these old methods because many just prefer being anonymous an untraceable especially with something as sensitive as gambling. On top of that, the added security of crypto make consumers feel more at ease because identity theft and hacking are minimized. Thus, crypto has grown to to become the prime and preferred choice for many gamers and it will continue to be this way for the forthcoming years.
Access Even in Restricted Areas of Gaming
Because cryptos brought to the gambling world anonymity and it is virtually untraceable because people do not tie in their personal information with this digital currency, this has allowed many players from around the world to access and play in online gambling games in localities that originally restricted and outlawed. Imagine, in places that have banned physical casinos, there has been a rise in online gambling sites because of the protection accorded by cryptocurrency. To illustrate, a country like Taiwan with a strict regulations is now seeing a rapid growth of online gambling sites which take cryptocurrencies as a mode of payment. Sites like Online Casino TW engage Taiwanese players to peruse and enjoy gaming through a variety of online casinos that accept Bitcoin. This growing demand will keep improving over the next couple of years as online casinos grow confident to push for promotion and for expansion in these areas. Tapping this under served market is now given primary concern because of the large volume of possible revenue that can be taken from these markets.
Changing Consumer Habits Quickly
With every person having their mobile device, both mobile and social gaming have a huge impact on the online gambling world. There has been an increase in people choosing to use their phone for gaming. As a result, there have been an increase in F2P (free to play) types of game products world wide. While F2P games do not make direct profits and income, and are seen as more for entertainment, revenue can still be made in other ways. Often players pay a small fee to upgrade their favorite game to access certain features. They also willingly pay a minimal amount when they buy a different kinds of virtual offerings and game products for the improvement of their gaming experience. This shows that people are willing to spend on entertainment, and even something deemed as free, is not totally free at all. Both online and casino operators are hard at work to leverage this data to their advantage because these F2P players are potential clients and they have strength in numbers, which one tapped will boost revenue in massive proportions.
Dealing with More Live Dealers
Players show preference over online casinos that show a realistic real live casino from their homes. They enjoy an engaging 'real, live' dealer, which is the primary reason they started this gaming habit, while never having to leave the house. Thus, more online casinos are using this information to gain leverage for the benefit of their online sites. On top of that, they beef up the same angle in the brick and mortar casino as well. For instance, the use of dynamic, lively dealers in games like Blackjack and Baccarat are popular with online casinos and many real casinos concentrate their efforts on providing engaging dealers on the casino floor. Ever since the casino industry started, consumers have always been drawn to dealers who possess the quick wit and charm. There is just something about this human interaction that makes it tempting for people to play more and stay longer. With advanced technology, dealers look real and just as engaging online.
VR Based Gaming on the Rise
Virtual Reality or VR is another nifty invention that paves the way for a more immersive casino experience. With more VR accessories readily available to the general public, the push for VR based casinos to evolve is on the horizon and is only a matter of time before everyone has easy access to this virtual reality casinos from the comforts of their own home. Net Entertainment, one of the gambling word's best and most popular software providers, has recently shown and proven that they are ready to upgrade when they showed a demo of their virtual reality version of their in demand Jack and the Beanstalk slot machine game. Now, there is a strong outcry for the release of more VR versions of their other popular games.
Land Based Casinos on a Decline
Current Trends In The Casino Industry Entertainment
Land based casinos are feeling the burn from their online versions and are facing a rapid decline with the recent popularity of online gambling sites. There have been a decrease in rates over the past year, especially since people need to make an effort to make their way down to a real casino. These brick and mortar casinos are concentrated in one area, such as Las Vegas or the Jersey Shore. People have to spend a lot of money to get themselves to these brick and mortar casinos. The amount of money and time wasted before a client can play a game is already exorbitant before he or she even gets to the actual casino. Because of this, consumers are opting to save their transport and other incidental costs, and they channel these figures to online gaming where they can use their money for bets, instead. Online casinos have the edge because they offer more privacy and more convenience to their players. On top of that, online casinos also offer a better and more vibrant gaming experience. Some online casinos have numerous games to offer that players are hard pressed to choose. These games even go through routine upgrades, so clients will always enjoy their experience. This is something which land based casinos cannot be at par with because of their limited games.
Upgrade of Slot Machines
As casinos attempt to attract the younger generation, the industry will continue to incorporate slot machines that are equipped have a skill element. After all, younger guests are adept at these types of gaming features found in their many video games and gaming consoles they grew up playing. This proves that people really want to be engaged and entertained at all times. If they are presented with something that is redundant, they will undoubtedly get bored. And as a casino operator, this is something that you do not want to happen to your clients because the moment they begin to feel bored, that's when they entertain thoughts of leaving to find other things to do. Upgrading those slot machines mean continuous gaming that feels new and fresh.
Interactive Gaming Systems Modify Interaction
Many online casinos deliver the best online content to meet and address their numerous guests' expectations. Thanks to technological improvement, users can access entertaining and engaging online games in a more luxurious lounge setting through touch-enabled kiosks, wall panels, and tables. Interactive gaming systems has the power to merge the popularity of online and social gaming to the real casino floor. The name of the game has always been interactive gaming, which is why even when the current casino goers were young, they already enjoyed interactive gaming experiences with their old Atari, Sega, or Nintendo interactive gaming systems.
Introduction of New Table Games
There are games like blackjack and poker that need a level of mastery to play correctly and to increase the odds of winning. Unfortunately, not everyone has this skill, so they are on the look out for games that may be challenging but are easier to learn. As a result, casino operators continue to bring new table games to the floor to see which ones become popular. In addition, as guests become more familiar with online and social games, they are drawn to the same types of games on the casino floor, which is why there has been a rise in interactive gaming systems in brick and mortar casinos.
Smartwatches Bring New iGaming Experience
Placing bets via a smartwatch is now a very really thing. In the past few years, people have been using their cellphones and tablets to connect to online casinos. Now, smartwatches are set to take over as a more convenient and accessible option. Others have predicted that the smart watch industry will reach its global worth of almost $33 billion by 2021, and gambling is slated to be a part of this enormous trend. Wearable technology has always been popular, and it will continue to be so in the coming years with more gaming software developers crafting new games that can be easily integrated in all devices.
Whether online or real casino, the operators goal would be to always give the clients what they want. Aside from providing a high level of customer service, fine dining, rewards programs, and incentives, the primary motivation is to give the best gaming entertainment. Now, the trend is mix the best of interactive online gaming systems and technologies with the traditional charm of the older live based casino.
LONDON--(BUSINESS WIRE)--Technavio's latest research report on the global casino gaming market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Ujjwal Doshi, a lead analyst from Technavio, specializing in research on gamingsector says, 'The exponential growth in the smartphone and tablet market is further expected to influence the growth of the global online casino gaming market during the forecast period.'
Request a sample report: http://www.technavio.com/request-a-sample?report=55083
Casino Gaming Industry Trends
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
The top four emerging trends driving the global casino gaming market according to Technavio media and entertainment research analysts are:
- Shift in consumer gambling habits
- Changing marketing strategies
- Increasing association with hospitality sector
- Increased penetration of international credit and debit cards
Shift in consumer gambling habits
There has been a significant change in consumer behavior in the global casino gaming market. The increase in the popularity of gambling apps and social gambling are the major factors expected to propel the growth of the market during the forecast period. Vendors are leveraging the growth in internet using population and increasing adoption of mobile devices to develop innovative social gambling games. The number of people participating in social gambling is increasing because they are motivated to compete with friends and can interact with each other through games. Moreover, these gaming platforms offer user-friendly gameplay, and game tournaments.
In addition, the increasing adoption of the free-to-play model of social gaming across the globe is likely to drive the market growth during the forecast period. The model does not generate revenue directly as it does not charge a participation fee. Instead, it charges for virtual goods that players purchase to access the advanced features of a game or to gain an edge over their competitors.
Changing marketing strategies
Current Trends In The Casino Industry Trends
An increasing number of vendors are trying to tap into the mobile and online environments to reach a larger audience, which is expected to propel market growth during the forecast period. The challenge for these marketers will be to reach their customers through mobile and social media in a personalized and non-intrusive way. As a high proportion of mobile users are millennials who try to skip advertisements, marketers will need to create content that is informative as well as entertaining.
'Among the plethora of marketing options available in the current age of internet, direct mail continues to be the most used technique of marketing, adopted by the casino gaming market' says Ujjwal.
Increasing association with hospitality sector
Casinos are a source of luxurious entertainment for people who have disposable time and income. However, casinos are the primary attraction of a city and they are popular for their games and rewards and not for the hospitality they offer. To expand their business, casino operators are looking for alternate methods to increase their customer base and attract a younger audience. One such method is an association with the hospitality sector.
Casinos are trying to integrate their businesses with major luxury hotels to increase their customer base. Casinos are placing slot machines at restaurants, bars, and other places to attract customers. This will increase the value of these places. With the addition of small casinos to major hotels, the reach of casino games is likely to increase further.
Changing Consumer Habits Quickly
With every person having their mobile device, both mobile and social gaming have a huge impact on the online gambling world. There has been an increase in people choosing to use their phone for gaming. As a result, there have been an increase in F2P (free to play) types of game products world wide. While F2P games do not make direct profits and income, and are seen as more for entertainment, revenue can still be made in other ways. Often players pay a small fee to upgrade their favorite game to access certain features. They also willingly pay a minimal amount when they buy a different kinds of virtual offerings and game products for the improvement of their gaming experience. This shows that people are willing to spend on entertainment, and even something deemed as free, is not totally free at all. Both online and casino operators are hard at work to leverage this data to their advantage because these F2P players are potential clients and they have strength in numbers, which one tapped will boost revenue in massive proportions.
Dealing with More Live Dealers
Players show preference over online casinos that show a realistic real live casino from their homes. They enjoy an engaging 'real, live' dealer, which is the primary reason they started this gaming habit, while never having to leave the house. Thus, more online casinos are using this information to gain leverage for the benefit of their online sites. On top of that, they beef up the same angle in the brick and mortar casino as well. For instance, the use of dynamic, lively dealers in games like Blackjack and Baccarat are popular with online casinos and many real casinos concentrate their efforts on providing engaging dealers on the casino floor. Ever since the casino industry started, consumers have always been drawn to dealers who possess the quick wit and charm. There is just something about this human interaction that makes it tempting for people to play more and stay longer. With advanced technology, dealers look real and just as engaging online.
VR Based Gaming on the Rise
Virtual Reality or VR is another nifty invention that paves the way for a more immersive casino experience. With more VR accessories readily available to the general public, the push for VR based casinos to evolve is on the horizon and is only a matter of time before everyone has easy access to this virtual reality casinos from the comforts of their own home. Net Entertainment, one of the gambling word's best and most popular software providers, has recently shown and proven that they are ready to upgrade when they showed a demo of their virtual reality version of their in demand Jack and the Beanstalk slot machine game. Now, there is a strong outcry for the release of more VR versions of their other popular games.
Land Based Casinos on a Decline
Current Trends In The Casino Industry Entertainment
Land based casinos are feeling the burn from their online versions and are facing a rapid decline with the recent popularity of online gambling sites. There have been a decrease in rates over the past year, especially since people need to make an effort to make their way down to a real casino. These brick and mortar casinos are concentrated in one area, such as Las Vegas or the Jersey Shore. People have to spend a lot of money to get themselves to these brick and mortar casinos. The amount of money and time wasted before a client can play a game is already exorbitant before he or she even gets to the actual casino. Because of this, consumers are opting to save their transport and other incidental costs, and they channel these figures to online gaming where they can use their money for bets, instead. Online casinos have the edge because they offer more privacy and more convenience to their players. On top of that, online casinos also offer a better and more vibrant gaming experience. Some online casinos have numerous games to offer that players are hard pressed to choose. These games even go through routine upgrades, so clients will always enjoy their experience. This is something which land based casinos cannot be at par with because of their limited games.
Upgrade of Slot Machines
As casinos attempt to attract the younger generation, the industry will continue to incorporate slot machines that are equipped have a skill element. After all, younger guests are adept at these types of gaming features found in their many video games and gaming consoles they grew up playing. This proves that people really want to be engaged and entertained at all times. If they are presented with something that is redundant, they will undoubtedly get bored. And as a casino operator, this is something that you do not want to happen to your clients because the moment they begin to feel bored, that's when they entertain thoughts of leaving to find other things to do. Upgrading those slot machines mean continuous gaming that feels new and fresh.
Interactive Gaming Systems Modify Interaction
Many online casinos deliver the best online content to meet and address their numerous guests' expectations. Thanks to technological improvement, users can access entertaining and engaging online games in a more luxurious lounge setting through touch-enabled kiosks, wall panels, and tables. Interactive gaming systems has the power to merge the popularity of online and social gaming to the real casino floor. The name of the game has always been interactive gaming, which is why even when the current casino goers were young, they already enjoyed interactive gaming experiences with their old Atari, Sega, or Nintendo interactive gaming systems.
Introduction of New Table Games
There are games like blackjack and poker that need a level of mastery to play correctly and to increase the odds of winning. Unfortunately, not everyone has this skill, so they are on the look out for games that may be challenging but are easier to learn. As a result, casino operators continue to bring new table games to the floor to see which ones become popular. In addition, as guests become more familiar with online and social games, they are drawn to the same types of games on the casino floor, which is why there has been a rise in interactive gaming systems in brick and mortar casinos.
Smartwatches Bring New iGaming Experience
Placing bets via a smartwatch is now a very really thing. In the past few years, people have been using their cellphones and tablets to connect to online casinos. Now, smartwatches are set to take over as a more convenient and accessible option. Others have predicted that the smart watch industry will reach its global worth of almost $33 billion by 2021, and gambling is slated to be a part of this enormous trend. Wearable technology has always been popular, and it will continue to be so in the coming years with more gaming software developers crafting new games that can be easily integrated in all devices.
Whether online or real casino, the operators goal would be to always give the clients what they want. Aside from providing a high level of customer service, fine dining, rewards programs, and incentives, the primary motivation is to give the best gaming entertainment. Now, the trend is mix the best of interactive online gaming systems and technologies with the traditional charm of the older live based casino.
LONDON--(BUSINESS WIRE)--Technavio's latest research report on the global casino gaming market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Ujjwal Doshi, a lead analyst from Technavio, specializing in research on gamingsector says, 'The exponential growth in the smartphone and tablet market is further expected to influence the growth of the global online casino gaming market during the forecast period.'
Request a sample report: http://www.technavio.com/request-a-sample?report=55083
Casino Gaming Industry Trends
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
The top four emerging trends driving the global casino gaming market according to Technavio media and entertainment research analysts are:
- Shift in consumer gambling habits
- Changing marketing strategies
- Increasing association with hospitality sector
- Increased penetration of international credit and debit cards
Shift in consumer gambling habits
There has been a significant change in consumer behavior in the global casino gaming market. The increase in the popularity of gambling apps and social gambling are the major factors expected to propel the growth of the market during the forecast period. Vendors are leveraging the growth in internet using population and increasing adoption of mobile devices to develop innovative social gambling games. The number of people participating in social gambling is increasing because they are motivated to compete with friends and can interact with each other through games. Moreover, these gaming platforms offer user-friendly gameplay, and game tournaments.
In addition, the increasing adoption of the free-to-play model of social gaming across the globe is likely to drive the market growth during the forecast period. The model does not generate revenue directly as it does not charge a participation fee. Instead, it charges for virtual goods that players purchase to access the advanced features of a game or to gain an edge over their competitors.
Changing marketing strategies
Current Trends In The Casino Industry Trends
An increasing number of vendors are trying to tap into the mobile and online environments to reach a larger audience, which is expected to propel market growth during the forecast period. The challenge for these marketers will be to reach their customers through mobile and social media in a personalized and non-intrusive way. As a high proportion of mobile users are millennials who try to skip advertisements, marketers will need to create content that is informative as well as entertaining.
'Among the plethora of marketing options available in the current age of internet, direct mail continues to be the most used technique of marketing, adopted by the casino gaming market' says Ujjwal.
Increasing association with hospitality sector
Casinos are a source of luxurious entertainment for people who have disposable time and income. However, casinos are the primary attraction of a city and they are popular for their games and rewards and not for the hospitality they offer. To expand their business, casino operators are looking for alternate methods to increase their customer base and attract a younger audience. One such method is an association with the hospitality sector.
Casinos are trying to integrate their businesses with major luxury hotels to increase their customer base. Casinos are placing slot machines at restaurants, bars, and other places to attract customers. This will increase the value of these places. With the addition of small casinos to major hotels, the reach of casino games is likely to increase further.
Increased penetration of international credit and debit cards
The biggest challenge of online gambling market is the legal issues with different countries. Several countries permit land-based casino gaming because it promotes tourism. However, the US and countries in the Middle East are extremely strict about online casino gaming. Online casino gaming cannot be banned completely as users can access foreign websites with a proxy server and gamble easily with an international credit or debit card.
Governments do not ban these websites permanently because they assume that individuals who engage in such activities are educated to know the consequences or are financially well off to be adversely affected by gambling losses.
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About Technavio
Current Trends In The Casino Industry Today
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Casino Industry News
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