Trends and Innovations in the World of Gambling and Licensing

The gambling industry is one of the first to implement fintech and IT technologies in its services. The volume of the market and the dynamics with which gambling is growing, according to forecasts the trend will only intensify, is impressive. According to Statista, the Online Gambling market, by the end of 2024, will bring – $107.30 billion in revenue, and by 2028 – $138.10 billion with 243.2 million users.

This trend is possible because of significant changes in the technical component, the development of web design, constant tracking, and analysis of customer preferences.

Among the main top casino trends can be identified: a significant jump in the spread of online gambling, the use of AI/VR solutions in games, as well as the widespread use of virtual currencies in payments.

Top Trends of Gambling 2024

The first casino was opened in Italy back in 1638. This sphere has always attracted those who sought to try their luck. But, digital technology has changed priorities and made its adjustments, forming new casino industry trends:

1. Online gambling.
   The advent and mass use of smartphones have changed the focus from offline to online. According to Whatsthebigdata statistics – by the end of 2024, more than 7.1 billion people will own smartphones, and by 2028 this figure will be 7.7 billion. Internet traffic via mobile devices has reached more than 60.67% of all traffic.
2. Virtual currencies, blockchain payments.
   Foreign exchange payments through traditional banking structures are a very long process, taking several days, with the required package of documents and large fees.
   Cryptocurrencies/virtual money and blockchain have made this process almost instantaneous, transparent without the influence of banks, and at optimal costs. This of course appealed to players, who can now pay for any game, app, or bet they like in a fraction of a second.
   The Binance website reported that the global number of cryptocurrency users in 2023 was 420 million.
   According to Crypto Reporter, the most popular cryptocurrencies were – Bitcoin and Ethereum, in 2021, more than 300 crypto-casinos were created with the ability to pay only in virtual currencies.
3. VR/AR.
   Keeping the user’s interest has always been a challenge for businesses. With the application of VR in gambling, this process has become easier as virtual reality aims to create an interactive interaction between the player and the platform, engaging them even more in the world of gambling.
4. AI/Machine learning.
   The use of AI/ML algorithms in gambling, allows us to quickly analyze user behavior and offer exactly the game, the entertainment that will be of interest to him. In addition, analyzing data makes it possible to track fraud attempts and prevent players from cheating.
5. Chat Bots.
   At first, chatbots served as 24/7 support with instant responses to user queries like game rules, system loading, and payment methods. But, now chatbots have so automated all actions from placing bets in online casinos to withdrawing money to the account that the player only chooses the direction of the game/sports betting/roulette, and the system speeds up the whole process. Most often chatbots are used in Telegram because of their technical characteristics. This platform ensures data privacy between the user and the chatbot, thanks to end-to-end encryption.
   For marketing campaigns it is a “gold mine”, because the player himself specifies what exactly he is interested in, creates his game lists, and the system adjusts to his request and makes mailings on promotions, bonuses, and offers from companies.
6. Mobile gaming applications.
   Mobile Internet and Progressive Web Applications (PWAs) allow you to place bets on sports, gamble, participate in lotteries, and compete with other players in real time. The Facts & Factors website states that the PWA market will grow to $7.6 billion by 2026. In 2023 alone, mobile gaming accounted for 72% of all gaming revenue.

Rise of Online Casinos

Online casinos are the core of gambling industry trends. The reasons for the explosive growth of this type of entertainment with billions of dollars in revenue have been:

• Accessibility.
  Visit online casinos, make bets, compete with other participants can have a laptop, or smartphone from any place where there is access to the Internet.
• Instant games.
  Such games provide the user with all the functionality without downloading to a PC, they appear in the news feed through social networks (Facebook, etc.). There are functions of interaction with other players, and friends.
• 3D design.
  The development of new directions in design, user experience research, and visual enhancement of platforms and websites has contributed to increased interactive interaction with the game.
• Interactions with other participants.
  Online competitions with friends and other users only intensify interest in the game. Tournaments, where many participants compete, show the rating of achievements, all this stimulates and further participate in the competition.
• Prizes, rewards.
  For many, it is important not only to participate but also to get a certain level in the game, a prize, a victory over the opponent.

AI Integration in Casino Layouts

AI has become one of the gambling trends as it gives the ability to:

• analyze large amounts of data, player strategy, and player preferences;
• offer: new games that will meet the needs of users; rewards/achievements that increase the level of satisfaction from the game;
• customize advertising for a specific type of client, perform SEO analysis, identify the largest traffic channel in a few seconds;
• improve interaction with the website. For designers of online platforms, AI generates different variations of new interfaces, before analyzing the user’s movement on the site;
• detect fraud by players, prevent hacker attacks, and verify users at registration.

Mobile Gambling Apps

According to Whatsthebigdata, more than 86% of the world’s total population has smartphones and the figure continues to grow. In addition, about 60% of all internet traffic came from mobile devices. Such figures have affected the gambling industry as well. Now every user with the help of a smartphone at any convenient time can visit an online casino, bet on sports, or download any favorite game.

Another step in improving the interaction between users and the entertainment industry, covering a larger audience, was chatbots in Telegram. The user choosing from a list of entertainment, based on his preferences, goes to a casino site or application, and is no longer looking for a game, but interacts with the environment.

Regulatory Trends Around the Globe

The main area of regulation in 2024 that many countries want to tighten is gambling advertising, as well as reducing the size of the illegal market. Regulators are looking to keep vulnerable groups safe from viewing and becoming more involved in gambling, as well as ensuring that users win.

Among the key regulatory countries in the gambling industry that have made or are planning to make changes in this regard are worth mentioning:

• Malta has already amended the Player Protection Directive in 2023. The aim is to identify addiction in players, educate staff, and protect users from gambling abuse.
• EU, where each country has the right to decide for itself whether to issue one license for each type of gambling. The main principle is that these rules do not contradict the strict EU Directives and comply with the AML/KYC procedures, which are controlled by the European Gambling and Betting Association (EGBA). The world of online gambling generates $47 billion in revenue for Europe.
• The UK has introduced a tax that aims to help those addicted to gambling addiction. According to forecasts, the sphere will only grow by 6% or more per year. For 2023, the revenue from gambling amounted to GBP 5 billion, from online casinos – GBP 3.2 billion.
• Germany only 2023 created the Joint Gambling Supervisory Authority (GGL), which regulates and issues licenses to operators of the gambling industry.
• France created the National Gambling Authority (ANJ) aimed at strictly regulating the online gambling market. Roulette and online casino games are banned here. To combat illegal online casinos, in 2023 a bill that provides for the legalization of local online casino operators for five years.
• Spain has revenue from gambling of $1.97bn. The Directorate General of Gambling Regulation (DGOJ) has tightened the rules for gambling operators and introduced a time limit (from 1-00 to 5-00) for advertising their services.
• The U.S. shows industry growth of 20% per year, regulation differs by state. In 2024, the Bureau of Indian Affairs (BIA) began to control online gambling for Indian tribes and introduced several requirements to protect the rights of users and create a safe environment.
• Latin America is considered to be one of the most promising markets. Brazil shows a 16% growth rate with about $2 billion in revenue. But, only in 2023 legalized online gambling, formed the National Secretariat of Gaming and Betting, increased the tax to 18%, and changed the rules of sports betting. In addition, introduced restrictions on advertising, operators can lose their license for non-compliance.
• In Australia, one of the countries where the adult population is most involved in online gambling, the average bet is about $1000. The government has decided to make changes in the field of online gambling, prohibiting betting using credit cards, and advertising must specify the risks associated with gambling.

The entertainment industry brings billions to the coffers of the states, each government strives to develop regulations that would legalize online gambling, to protect players from addiction and unscrupulous market operators. Regulation of gambling is a rather complex process, which should be constantly updated taking into account the demands of the market, the emergence of new technologies, and tools to influence consumers.