In a recent interview to Bohdan Lytvyn, the Editor-in-Chief of https://mycasinoindex.com, Thunderpick has shared their ideas of the state of Gambling market in 2022 as well as highligted some of the upcoming industry trends and pitfalls related to traffic acquisition and starting out a new casino.
1. In your opinion, what is the global online casino market worth and the most popular geos?
In 2021, the market size of the casino and online gambling industry worldwide reached a total of 231 billion U.S. dollars. Most popular geos are North America and Asia.
2. Which geos are the most cost effective in terms of market size, player value, competition, etc?
The most cost effective geos are USA, China.
3. From what you know, what might the number of active brands out there in total?
About 200.
4. What is the share of cryptocasinos in the market?
Around 12 % and it is up 22 % y/y.
5. How do you think, how many new brands are coming up / dying each year?
Each year there are 30+ new brands
6. What do you think is the online casino market potential in 5 year time?
The global online gaming market size was valued at USD 56 Billion in 2021 and will achieve a market size of USD 132 Billion by 2030, budding at a CAGR of 10.2%.
7. What are the latest online casino market trends?
Online casinos emphasize developing information solutions that support and assist gamblers, safeguard the authenticity of gambling activities, and prevent fraudulent activities. Various online gambling sites offer a free-play version of their games, creating growth potential for the business.
Improvements in the digital space are concurrent with the annual expansion of online casinos, and these improvements are intended to obtain the desired trust in the online betting sector. For instance, virtual reality (VR) in gambling generates the simulation of surroundings; users can interact with them in a real way with special equipment like gloves with sensors. VR lets gamblers interact with other bettors and dealers and offers a more realistic gambling experience, better sound quality, and a realistic game design. VR has helped the market improve the gambling experience by creating growth opportunities.
The gaming business has expanded rapidly in recent years, mainly largely to the emergence of eSports. With this expansion, gamers’ expectations of their favorite games are rising. With several methods to play currently available at online casinos, new technologies are making it even easier for players to connect with their games. Voice-controlled games are one example of such technology.
Players may just use their voices to engage with the game using this technology, making it much easier for everyone. Voice-controlled games are intended to improve the gaming experience for gamers who are confined to a wheelchair or are otherwise unable to utilize typical gaming devices.
8. What do you think are the next big geos to start a casino?
Scandinavia, Near East.
9. What are the main problems with acquiring traffic for a new casino?
Gambling traffic is in general the hardest to obtain. It’s connected with the restrictions imposed by the definite countries (such type of business is illegal in some states). Besides, it might be difficult to find a company ready to cooperate with gambling businesses. Casino needs real traffic, a real people who own real money to spend.
10. What you know about your players: why do they gamble at all?
Players gamble, because they like to feel the adrenaline rush to win money. Also, gambling makes it easy to socialize with other people. It’s an opportunity to meet new people, make new acquaintances, which might be very useful in the future. Gambling also reduces stress in some players’ cases.
11. What software is the most popular now?
Novomatic.
12. What do you think are the pitfalls of starting an online casino? Which of them are specific to cryptocasinos?
Obtaining an appropriate gaming license is the most crucial step you must take. License typically takes a few months to a year to obtain. Applying for a gambling license is not easy, regardless of which country the operator chooses. It usually requires the iGaming company to provide tons of documents and pay substantial fees. Hence, the process often takes weeks, if not months. Also, depending on which jurisdiction you decide to target, licensing costs do not come cheap.