iGaming, also known as online gaming or internet gaming, refers to playing games of chance or skill for money on the internet. This includes online casinos, poker, sports betting, and online lottery, among others. iGaming is a rapidly growing industry, with more and more people turning to the internet for their gaming and entertainment needs plus the added incentive to potentially make money.
The “i” in iGaming stands for internet and the genre has exploded in popularity in recent years as more people gain access to fast reliable internet connections. Betting on the outcome (or on any number of factors) of a sporting event, wagering on a European roulette game and even online Bingo are all popular examples of iGaming pastimes.
The Smartphone Boom
The phenomenon has become increasingly popular for a number of reasons. One major factor is the widespread availability and affordability of high-speed internet, which allows for seamless online gaming experiences. Combine this with the proliferation of the smartphone, which up to 90% of adults worldwide now own, and you have a virtually limitless market for iGaming products and services.
The technology and capabilities of recent generation smartphones far outperforms dedicated gaming machines of yesteryear and software developers have been quick to capitalise on this. Mobile gaming is no longer low-res, poor-quality like a basic snake game, which was the pinnacle of mobile gaming at the turn of the century. It is now an alternative to console gaming, with mobile games standing on their own with an endless number of blockbuster titles available.
And consumer tastes and habits have grown alongside the burgeoning mobile industry. Some of the fastest growing businesses in tech are software developers for mobile devices.
Convenience
The convenience and accessibility of online gambling compared to traditional brick-and-mortar casinos also plays a role in its popularity. Players are able to access their favourite online casinos or iGaming titles from anywhere they please at any time of the day.
Some consumers may not live in close proximity to a bookmakers, casino or other gaming establishment, or they may not be able to travel, so iGaming brings a familiar experience to a wider audience. Traditional casinos are also subject to opening hours that their online equivalents are largely exempt from and it takes many more staff to keep a casino operational than it does to maintain an online service.
Quality Software
The live casino development, which first came into being in the 1990s bridged the gap between offline video casino gaming and the real-world excitement of the gaming floor. A live dealer or croupier operates a real-life casino game in a studio where several cameras pick up the action and broadcast.
Initially live casino providers would be broadcast to cable network channels and players could call in to place their bets, but nowadays live casinos are streamed direct to players’ smart devices – a development only made possible due to increased broadband speeds. Live casino is a great option for those that like the personal touch from their game sessions as they can see in real time the action unfolding.
For those sceptical of the fairness of online casino results – which are determined via random number generators – live casino is one step closer to being provably fair.
The online gambling industry offers a wider range of games and betting options, which appeal to a broad audience and some of these titles have outgrown their real world counterparts. Slots specifically, have undergone an impressive facelift. Minigames, bonus features and elements of strategy combine to create iGames that are immersive, challenging and fun.
The popularity of iGaming titles has meant some of its core mechanics have been adopted by other traditional video games. The popular Luck be a Landlord indie game by developer TrampolineTales utilises the slot machine mechanic as its central component. Coin Master, one of the most successful mobile games of the last decade does the same.
iGaming and the Law
A further factor at play is the increasing acceptance and legalisation of online gambling in a number of countries. The USA, the EU and Australia have all updated their laws surrounding online gaming to allow for better regulation and protection of gamers as well as an effective source of tax revenue – money which can be reinvested into public services.
The Future of iGaming
The monetisation of the esports market poses the argument that the professional gaming industry also falls under the iGaming umbrella, especially with more people betting on the outcome of these events. Esports is certainly an area of immense potential growth, a fact that the mainstream has started to pay attention to. Changing consumer habits and interests, more effective technology applications and a broad range of different games to appeal to different tastes make it clear that the future of iGaming is gleaming.
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