The worldwide iGaming landscape has been drastically altered by the rise of the online casino business. According to Statista, the online casino market was expected to reach $35.13 billion by 2024 (which it did) and is expected to grow at a compound annual growth rate of 5.56%, eventually reaching $46.04 billion by 2029.
This expansion is demonstrated by the fact that online casinos currently have the biggest position in the gambling business, accounting for 66% of the global gaming market. This means that more than half of the players choose online over brick and mortar establishments.
Given that gaining a new player might be five to seven times more expensive than keeping an existing one, operators in such a competitive environment must concentrate on both drawing in new players and keeping existing users.
Who is gambling today?
There has been a significant change in how people gamble over the past several years. With a Gross Gambling Revenue of £5.7 billion and about 40% of the market, remote (or internet) gambling was the largest industrial sector in the UK, according to the industrial Statistics for April 2019–March 2020.
Official numbers from weekly telephone polls, which demonstrate consistent year-over-year increases in online gaming participation, further highlight this trend. Five years ago, about one in six people (17%) had gambled online. In 2020, over one in four adults (24%) had done so in the previous four weeks.
The young are dominating the market
Men make up 70% of the market, and the average European player at an online casino is between the ages of 25 and 44. But the ladies are also taking up more and more space in the world of online casinos.
Women are increasingly participating in online gambling, making up to 40% of the audience. European gamers spend an average of $380 annually on online gambling, with the hours of 6 p.m. to midnight seeing the highest player activity.
Operators are expanding their game portfolios and creating more inclusive marketing tactics as a result of these demographic developments. Casinos such as Luckera must keep up with the newest trend in order to capture and keep the most active demographic.
With a wide range of games that satisfy the changing preferences of European players, including well-liked slots and traditional table games, Uplatform’s Casino Aggregator is especially well-suited to this area.
Smartphones are the way to go
In 2020, mobile phones continued to be the most widely used method of accessing online gambling, especially among younger individuals.
Even while half of all online gamblers have used their cellphones, there is a noticeable age disparity: only 14% of people 65 and older use their smartphones for gambling, compared to 75% of those between the ages of 18 and 34. Additionally, the research indicates that online gamblers between the ages of 18 and 34 typically utilize 1.7 devices for gambling, which is more than the average of 1.4.
This growing trend of smartphone use is also shown in the ways online casinos build their websites. More and more platforms are optimised for mobile use and there is also the ever-growing need for the casinos to develop their own apps.
Luckera and other online places strive to take everything from their websites and implement them into an app that is as user-friendly as possible. This challenge might seem easy enough, but with a sea of competition, casinos have a hard time distinguishing themselves.
PC is still one of the most popular choices
In 2020, laptops, PCs, and tablets stopped recent dips in online gambling, although mobile phones continue to be the most popular device. Four out of ten online gamblers use laptops, making them the second most popular method of accessing online gambling.
This is still a sizable part of the market, so casinos like Luckera have the difficult task of catering to multiple generations while also having to optimise the user interface for both large and small screen users.
Desktop was the main method of accessing online gambling for people 55 and older, and their use has been decreasing in recent years before stabilizing in 2020.
Just under one in five online gamblers use tablets, while one in four use PCs, making PCs the third most popular method. Following years of decline, the use of PCs and tablets stabilized in 2020, much like laptops.
The takeaway for operators
Rapid expansion, a variety of regional marketplaces, and changing player tastes are characteristics of the worldwide online casino sector. With an average payout ratio of over 95.7% for online casino games, the business generates approximately $60 billion in global tax income each year.
Operators must continue to pay close attention to the unique requirements and preferences of their target populations as the market grows.
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