Custom Market Insights reports that the online gambling market was valued at approximately USD 58.2 Billion in 2021 and is expected to reach a value of around USD 145.6 Billion by 2030. Online casino gaming keeps growing due to rapid urbanization, high demand for home personal entertainment, as well as gambling business legalization and increased cultural approval around the globe.
Forbes shares Neil Bluhm’s thoughts, as cofounder of RSI, an online casino gambling services provider in the US: “We’re growing like a weed and we’re adding states all the time,” Bluhm comments in a phone interview. “The growth potential is tremendous.”
This rapid market growth is elevated by increased accessibility of modern technologies. Pay Space Magazine points out some of the recent innovations happening in the casino gambling industry:
- lower transaction and operational costs due to crypto use;
- mobile game development boost from easier audience reach;
- blockchain potential to decrease the risks of online gambling;
- smoother integration of online payment services;
- Cloud, VR, and metaverse services;
- increased privacy for the players due to cryptocurrency deposits.
These show a small glimpse into the possibilities of a tech-based casino world that can attract more users for lower costs than physical, in-person casino institutions. Before outsourcing gambling software development, we recommend you familiarize yourself with criteria of quality online casino games, development stages, insights into user retention mechanisms, and digital marketing promotions. This will help you make the right decision when choosing a casino software development provider in the modern market.
The iGaming industry has tremendous revenue potential; we hope to shed some light on the process of online casino software development, including the main challenges of designing secure, robust, and easy-scalable products.