The iGaming sector has achieved great success in recent years and has gone through many transformations. There is a stark contrast between the first online casino and the current casino sites, which are also mobile-friendly and easily accessible on the go.
Since casinos are based on digital platforms, it’s easier for them to integrate different technological innovations that will further advance the gaming experience online. So, in a nutshell, 2022 was quite a successful year for the gaming sector; in 2021, its net worth was around $198.40 billion, and it expected to hit another record-breaking value of $339.95 billion by 2027. in this article, we will take a look at the main factors which propelled the rise of the iGaming sector.
Mobile Devices
A major factor in the continuous development of iGaming sector was the introduction of mobile casino sites as well as mobile betting platforms. Due to the increased usage of mobile devices and enhanced capabilities of smartphones and tablets, it was easier for digital platforms to offer the full scope of the gaming experience on the go.
In other words, you can easily play mobile casino games on reliable platforms like Casumo online casino, for example, from your smartphone’s browser. The same applies to any casino game, betting options, bingo, or lotto games since they were all mobile optimized for smartphones, including Apple and Android devices.
Cryptocurrencies
Another aspect that even further contributed to the development of the iGaming sector was the integration of crypto payments, as it allowed betting platforms, casino sites, and other gambling sites to connect with crypto owners who wanted to place wagers with their crypto funds. It also made online gambling more appealing to an audience that would generally prefer to bet with their cryptocurrencies than fiat currencies.
New Regulations
Due to the general popularity of iGaming sites, there are many new states and countries that were previously opposed to online betting or other forms of gambling that have decided to support its development. For example, in the USA, roughly half of the state’s support some format of online gambling, and there are many others that are trying to put the right regulations in place in order to legalize online betting and online casinos.
In Europe, there are many countries that have their own national gambling agencies to regulate forms of gambling in general and online gambling as well. Some examples include Swedish Gambling Authority, Danish Gambling Authority, the Estonian Tax and Customs Board, and many others.
Summary
In conclusion, iGaming has achieved great success since casino sites became easily accessible on any platform, with multiple payment options available for different casino players. This also applies to other formats of online gambling, including online betting, online lottery, and bingo sites. On top of that, there’s enhanced interest by governments around the world to regulate online gambling within their borders since there is obviously a huge demand for it on a global scale.
