The iGaming world is buzzing with exciting changes and new trends. These trends help us to alter the approach of the business accordingly, or, at least, gain new information and knowledge about the upcoming changes in the industry.
The truth is that change is a continuous process. And one of the most significant reasons why it is so vacillating and shifting are the trends, which eventually influence the customer needs, preferences and actions.
So, for that reason, we decided to explore and talk about the key insights and trends of the iGaming industry in 2024 with our Commercial Director, George Davlianidze.
- Q. How did your journey with Upgaming begin and what were your first steps in the iGaming industry?
Before I became a member of Upgaming’s team, I was working in the crypto industry, and I’ve gained quite an experience in this field. The thing is that I was always intrigued by the innovative technologies and the industries that were front-runners when it came to using the latest technological advancements.
The iGaming industry is one of the new-born fields that quickly embrace innovative developments, that’s what got me into it. Upgaming was just taking its first steps when I joined the company. As Upgaming was expanding, I was also gaining and growing experience in iGaming. And I have to say, I was really engaged and very interested in this sphere from the start, cause there was always something new going on each week, month and year, and I had to learn and cope with these changes. In fact, I still learn a lot and share it with my teammates.
- Q. So, What are the main trends in the iGaming industry in 2024 and why should we have to be aware of them?
We need to know what’s next for the industry, focusing on every theme from the latest regulatory updates to the growing emphasis on responsible gaming. One of the most important things that I’ve learned from my experience is that knowing about the trends helps iGaming businesses to create and offer the best possible solutions to operators and players. It might sound like a cliché, but it’s true – if you don’t know or don’t consider the new trends and changes in the industry, your business might fall off the cliff.
The trends itself touch the critical role of safety, highlighting how cutting-edge risk management tools and anti-fraud AI are becoming game-changers. Plus, with the nonstop rise of blockchain and cryptocurrencies, these technologies are reshaping the way we play and pay. Mobile gaming isn’t slowing down either, continuing to make gaming more accessible than ever. And at the heart of it all is the shift towards a player-centric approach. Thus, I think operators need to ensure that games are more enjoyable and tailored to what players really want.
- Q. You’ve mentioned regulatory changes, what changes are we supposed to see in 2024 in this regard? Are there any evolving markets in the industry that are going to regulate the local markets?
The iGaming industry witnessed substantial regulatory transformations in the previous year. For instance, international licenses, especially from Malta and Curacao, were the backbone of the iGaming world. Being among the top 5 licenses for sports betting and online gaming. These licenses allowed companies to operate across multiple countries, offering the benefits of broad market access and attractive tax conditions.
However, a significant shift has been occurring over the last few years. Countries like Germany, Sweden, and the Netherlands have started to establish their own regulatory frameworks. This movement towards national regulation has been gaining momentum, challenging the once-dominant position of Malta and Curacao as the go-to regulatory hubs.
We all knew that Curacao was known for its tolerant, easy-to-acquire regulatory stance. But in 2024, this is changed. Curacao is moving towards stricter regulatory measures. This shift signifies a broader global trend. We might witness revolving from international to national iGaming regulations. I think what drives this transition is the desire for greater security and transparency, and it pushes iGaming companies to toughen up their compliance efforts.
But, these regulatory shifts are not just about tighter control; they’re reshaping the landscape of the iGaming industry, especially in emerging markets. The regulation wave in regions like LatAm (due to the growth of LatAm sports betting market), Africa, and Southeast Asia has also witnessed growth in the sector. Brazil plans to regulate sports betting (Brazil Gambling Regulations) and other LatAm countries might just follow the trend. Sports betting is one of the most popular iGaming content in Latin America, so it’s not surprising that the officials want to make a win out of it.
As these regions are getting ready for anticipated regulatory changes, the industry faces a mix of opportunities and challenges. Operators and players alike need to navigate this evolving regulatory environment carefully, adapting to the new norms that are shaping the future of iGaming.
- Q. How do operators need to approach Responsible Gaming practices? What measures do they need to take to promote it among customers?
In 2024, the focus on responsible gaming is set to become even sharper. Both legally and socially, iGaming businesses face the challenge of ensuring their operations foster safe and responsible gambling practices. The expectation for iGaming businesses to safeguard players continues to grow. We think that by using AI technology, the operators can guide players towards more responsible gambling behaviors, enhancing safety measures.
The awareness among players is already on the rise. They are becoming more discerning, paying attention to what licenses you have as an operator, and what responsible gambling tools you offer. So, the least that the operator can do is to have self-restriction tools and AI mechanisms at hand that can detect the problems and set some limits in case of necessity. My impression is that this shift towards informed gaming reflects a broader trend to safer and more responsible iGaming practices.
Q. What about the safety itself, there has been an increased concern on security measures among providers and operators. What tools can iGaming providers offer to operators to guarantee the safe and secure platform?
Okay, I will start it from a more general perspective and then narrow it down to the topic of the question. It’s beyond a doubt that the advent of AI has changed the iGaming industry. AI technologies have been successfully used in business in recent years. And this trend won’t go away. On the contrary, its importance grows day by day. So, in 2024, operators and iGaming providers will continue to use AI to enhance the performance and improve the efficiency of their business.
Nonetheless, AI encompasses and covers a lot of themes. And it’s interesting to know exactly in what sphere it will be used predominantly during 2024. Our analysis suggests that it will be cyber security. To cut it short, it’s mainly about ensuring the safety of the platform and protecting the players from risks caused by scammers and fraudsters. That’s why Upgaming has developed top-notch sportsbook risk management and anti-fraud AI tools.
But, beyond the AI and software tools developed to safeguard your platform, there is also a call for the involvement of human forces in managing the process of potential risks. To meet this need we offer the support of our risk and fraud monitoring team, which consists of bookmakers and experienced professionals guaranteeing the safety of the platform.
- Q. What are some of the trends that you’ve noticed in gaming itself? For instance, are there any types of games that are becoming popular among the players of our clients?
Our partners have reported that more and more players aged 25-40 are getting into crash games. It turns out a lot of gamers on various platforms are in this age range, suggesting there might be an even bigger audience for crash games than we thought. So, to explain it simply, in these games, players bet on a multiplier and need to cash out before the multiplier “crashes,” which ends the game suddenly. These games are fast-paced, and rounds are quick, which is what players are looking for these days. Generally, users are into shorter gaming sessions where they can win and cash out faster.
We knew that the demand for mini games would increase sooner or later. That’s why we started developing our mini games library and launched the well-known Dino and Chicken, long-time favorites of our operators and players. They’ve been performing outstandingly, so there’s no wonder they are among our top 5 mini games from 2022 to 2024.
Moreover, Upgaming has introduced new mini games and crash games in response to player preferences and market trends. Aero is a great example of this, we knew what operators and players were looking for, so we introduced Aero and just in 2 months after the release it won the Best Crash Game Award at SiGMA Europe 2023. The demand for mini-games will continue in 2024, and the release of our new mini-games, such as Doors and SpeedX, is just the beginning. We have new mini games in line, which will be revealed throughout the year.
- Q. Providers and operators have witnessed an increased use of blockchain and crypto in iGaming. Will this trend continue to shape the present and future of iGaming?
Well, Blochain has seen rapid growth since it permeated almost every type of business. It is making big waves in the iGaming industry too. We’re talking about things like cryptocurrencies, safe transactions, games where you can check the fairness yourself, digital collectibles (NFTs), and etc.
One of the biggest hits has been using cryptocurrencies like Bitcoin and Ethereum for betting. It’s been a favorite choice for a while because it works around the usual banking systems, which is perfect for players who can’t or don’t want to use traditional payment methods and give away personal information. The demand for crypto options is so strong that 90% of operators we work with now accept both cryptocurrencies and fiat currencies.
The main audience using cryptocurrencies for betting is the 25-35 year olds, showing that it’s mostly the younger, tech-savvy players leading the charge. Interestingly, only about 20% of our clients think that the trend towards crypto in iGaming will slow down. Most believe it’s going to keep growing or stay the same. This suggests that blockchain and crypto are expected to continue being big players in how iGaming operates. So, yes, of course it is going to shape the future of iGaming when there are thousands of crypto casinos and even more, there are debates about opening NFT casinos.
- Q. And finally, what is your expert opinion about mobile gaming in 2024?
Playing games on mobile devices is not a trend anymore —it’s the new norm. Looking ahead, it’s clear that mobile gaming will continue to dominate. Why? Because mobile devices are convenient, easy to carry around, and more budget-friendly compared to laptops. Plus, in many places where buying a laptop is too pricey and fast internet isn’t available, mobile phones are often the only option for gamers.
Depending on where your players are, between 60% and 99% of them are using their phones or tablets for betting or playing casino games. If we’re about to break down the mobile use rate in our partners’ client base by region, numbers show that mobile gaming is huge everywhere: 95% in Europe, 88% in Asia, and 92% in Latin America are all choosing to play on their mobile devices.
Therefore, mobile gaming will continue to permeate the iGaming industry in 2024, and there’s nothing on the way to change this. So, the mobile-first approach must stay the top priority for every operator.
