Author: Olga Ruiz, Business Development Director at Ciklum
The betting and gambling industry is not immune to the effects of COVID-19 and the triggered crisis. All the world sports leagues came to a standstill, with betting activities also suspended. Many land-based casinos have been closed or limited functioning. During the COVID times, certain countries have also updated the regulatory restrictions which do not allow consumers anymore to use credit cards to gamble. However, the iGaming industry is now talking not only about the challenges but also about the opportunities. The e-sports sector has received a huge boost, with many people turning to e-sports and betting in the absence of traditional betting avenues.
As there is a growing buzz around online gaming, casinos and other internet-based entertainment activities, the iGaming universe is definitely shifting and changing. Here are some of the top iGaming trends for 2020 which you need to be aware of:
5G to boost sports betting
As the quarantine and restrictions in many countries are gradually lifting, sports leagues do still plan to finish the 19/20 seasons. Without a live audience, but with a virtual one the online betting activities will be renewed. Long-touted as the next big thing in digital connectivity, fifth-generation wireless technology is preparing to enter prime-time, offering significant benefits to the sports betting industry. 5G, which provides better connectivity and increased bandwidth compared to 4G technology, allows sports betting brands to provide fast-real time data that enables players to make decisions faster.
Research has found that 49% of US, UK, and German sports bettors believe 5G will be important to their business practices
The lottery industry needs innovation
The industry leaders agree that lotto brands must make broader appeals to younger, digital-focused audiences. While demand for lotto products continues to rise, the industry must find new ways to deliver innovative solutions that better capture audience attention.
Virtual instant sportsbooks have arrived
The first full set of instant sports games with virtual results has been developed by Golden Race. The new experiences, which also includes the industry’s first in-game cash-out function, affords users the opportunity to bet before and after a match has started.
A desire for greater app engagement
To keep users engaged with gaming experiences, developers must ensure that apps are built to withstand the test of time. Today’s users are less tolerant of slow, underperforming gaming experiences, requiring brands to invest significantly in creating intuitive apps and well-designed user journeys. While cross-platform development tools have made it possible to deliver a broad reach to mobile apps, code must be well-executed and well-written to keep users satisfied and returning.
Newly emerging gaming platforms
Over the past year, SIS Competitive Gaming’s end-to-end solution for retail, online, and mobile experiences has attracted significant interest.
Featuring 15,000 live broadcasts of head-to-head video game competitions streamed live.
SIS is keeping customers engaged and driving usage from sports bettors.
The virtual reality casino experience
A new, immersive set of online slot machines takes players directly to the action through powerful VR technology. Engineered to resemble real-life casino interiors, the VR experience allows users to experience their favourite famous hotspots while enjoying a selection of fully-customizable slot games.
Owning gaming regulations
Rather than behaving like an industry in trouble, the industry experts believe that gaming businesses must accept they are in a regulated industry and focus on building brands and loyal customers. Following models set by the alcohol and tobacco industries, gaming brands should embrace regulations and lean into their brands to build consumer confidence and loyalty.
A need for unique creative assets
Considering brands require unique identities, gambling brands are plagued with a lack of distinct visual assets, relying on stock photography that makes designs seem tired, overused, and similar to competitors. Brands should be looking outside of the gambling industry and creating distinct visual assets to help distinguish products from one another and create engaging user experiences.
A push for greater industry diversity
New blood can prevent the gaming industry from becoming stagnant. Companies have heard the business call for more diversity and inclusion and are seeking new approaches to address the issue. The All-In Diversity Project, a not-for-profit led by the gaming industry itself, now offers a series of workshops available to gaming industry managers, decision-makers, and HR professionals to take concrete steps toward improving representation.
Find out more about Ciklum’s iGaming solutions here.