- January 06, 2024
2024 iGaming Platform Layout Forecast
With the arrival of the new year, we eagerly welcome 2024, a year full of challenges and opportunities. Throughout this unprecedented year, the editorial team of the TC-Gaming has, alongside industry leaders, experienced the unique journey of a global pandemic – from the initial global lockdown to the gradual easing of restrictions. During this period, the TC-Gaming has been fortunate to witness the overseas gambling market evolving into a fiercely competitive landscape. However, I firmly believe that the trend in network layout for this year will be driven by the user experience of gambling. After all, the customers of the network are the various gambling platforms. Only when the network company's own gambling platform system has an advantage can it demonstrate strong competitiveness in the gambling network industry. Optimizing the user experience of the gambling platform, increasing user stickiness, and simultaneously improving conversion rates are the most direct and effective competitive strategies. In this fiercely competitive market environment, the network and gambling platforms are interdependent and mutually reinforcing. Only through mutual progress can they stand out in the future competition of the gambling market. As the new year unfolds, we eagerly await the trends of 2024. In this challenging and opportunistic year, the editorial team of the TC-Gaming, together with industry experts, has undergone an unprecedented journey due to the global pandemic, from the initial lockdown to the gradual easing. During this period, the TC-Gaming has been fortunate to witness the overseas gambling market evolving into a fiercely competitive landscape. However, I firmly believe that the trend in network layout for this year will be driven by the user experience of gambling. After all, the customers of the network are the various gambling platforms. Only when the network company's own gambling platform system has an advantage can it demonstrate strong competitiveness in the gambling network industry. Optimizing the user experience of the gambling platform, increasing user stickiness, and simultaneously improving conversion rates are the most direct and effective competitive strategies. In this fiercely competitive market environment, the network and gambling platforms are interdependent and mutually reinforcing. Only through mutual progress can they stand out in the future competition of the gambling market.
2024 Gambling Network Forecast
In the fast-paced online gambling industry, if your gambling platform does not embrace trends, you may be left behind by competitors. Therefore, in 2024, the following new technologies may define the future of the gambling industry.Blockchain and Cryptocurrency
While the prices of Bitcoin and other cryptocurrencies may fluctuate, the impact of cryptocurrency and other applications of blockchain technology on our lives will persist, regardless of market changes.
Blockchain technology has long been seen as a guarantee of fairness and security for iGaming platforms. It is often used in game development to ensure the integrity of Random Number Generators (RNG). The transparency of blockchain technology also gives it an edge, making it an ideal choice for protecting player privacy. The use of cryptocurrency undoubtedly provides greater convenience and privacy for players.
The emergence of cryptocurrency allows for fast cross-border transactions without the need for banks. This seamless transfer method, coupled with automated and accurate payments through smart contracts, enhances player security. Additionally, players can use blockchain technology to secure their gaming accounts, ensuring their safety is not compromised.
Although blockchain technology cannot guarantee complete anonymity, it has significant advantages in ensuring personal privacy and the security of financial transactions compared to bank transfers or online payments, as authorities or other regulatory bodies cannot obtain the names of transaction parties in most cases.
In most cases, withdrawing funds using cryptocurrency is much faster than through bank transfers. Moreover, the commissions for depositing with cryptocurrency are usually lower than other payment methods. Some iGaming platforms even offer incentives for players using cryptocurrency for deposits to encourage more people to use this payment method.
Therefore, it is expected that by 2024, blockchain will completely change the payment methods in the gambling industry. By giving players ownership of in-game account assets, they can sell these assets on the blockchain market. Therefore, we have reason to believe that the days when most people use blockchain technology are not far away.
Mobile Gaming
The advent and development of mobile technology have profoundly influenced and changed our lives, with this impact evident in many different aspects, especially in the iGaming sector. The rapid development of the mobile sector has provided a powerful impetus for iGaming, propelling its growth to unprecedented levels. In the future, as smartphones become more powerful, mobile internet speeds increase, and the ubiquity of smartphones continues to rise.
In the gaming sector, data shows that the number of mobile game users has doubled that of PC and other terminal users. This trend clearly indicates that the mobile sector is becoming a major market in the gambling industry.
With the emergence and development of new-generation mobile communication technologies such as 5G, the widespread availability of high-speed internet connections will further accelerate. This ultra-fast data transfer will significantly reduce network latency, providing new impetus for the development of the iGaming industry. This may prompt gambling websites to pay more attention to user experience, invest more manpower, resources, and effort into developing new immersive applications, further attracting gambling network customers and enhancing their network systems' competitiveness in the market.
Personalized Gambling Platform Experience
Personalization has become a crucial element in the marketing and retention strategies of the iGaming industry. As discussed in a previous article by the TC-Gaming on "Segmentation of Gambling Users," personalization involves not only recommending gambling game types that players may like but also providing incentives and continuous rewards based on the player's gaming patterns and behavior. Customizing various settings to meet specific player needs is part of this personalized strategy. This personalized strategy can better attract and retain users, providing them with a better gaming experience, ultimately increasing their satisfaction and loyalty.
Artificial Intelligence (AI)
Artificial Intelligence (AI)
The global artificial intelligence market is growing rapidly and flourishing, becoming an undeniable fact. Today, nearly 77% of internet users have begun to use AI technology to some extent, indicating that AI has permeated every corner of our lives. Major global companies have recognized this trend and have begun massive investments in AI tools and related technologies. According to IDC Worldwide's forecast, spending on AI-centric systems by companies will exceed USD$300 billion by 2026. Therefore, in the long run, by 2030, AI will add USD$15.7 trillion to the global GDP, a growth of 14%. This data clearly indicates that AI will have a profound impact on the global economy, with immeasurable potential for future development.
How Does AI Enter iGaming Operations?
iGaming platforms consist of many different parts, each of which must work together to ensure the smooth operation of the entire gambling platform.
For example, one crucial part is collecting and analyzing data. This data can be used to adjust operational strategies to better meet customer needs and preferences. Data analysis can also be used to predict future trends, helping gambling platform operators make wiser business decisions.
In lottery betting, artificial intelligence (AI) can be used to analyze and recommend betting numbers or patterns. This technology can increase the accuracy of lottery betting, thus improving player win rates.
AI can also be used to automate some routine tasks, such as customer service queries. This way, AI can save a considerable amount of manpower and time while providing more efficient service. Additionally, AI can help gambling platform operators quickly scan and analyze target markets and audiences. AI can rapidly analyze market dynamics so that gambling platform operators can better understand their customer base, as well as their needs and behavior. Overall, artificial intelligence plays a crucial role in the operation of iGaming platforms. With technological advancements, the application of AI in the gambling industry is expected to expand further.
Virtual and Augmented Reality (VR and AR) and Metaverse Gambling
Technological innovation provides new and exciting ways for iGaming platforms to offer unique gambling experiences to users. It also significantly increases competitiveness in the iGaming industry within the same sector. Whether standing undefeated or overtaking on curves, virtual reality (VR) technology has been steadily developing over the past few years, gradually entering the research and development of the iGaming industry and may soon change the presentation of iGaming.
magine being able to teleport from your living room to the virtual casino floor by simply wearing a VR headset. By 2024, VR may make this a reality. Due to technological advancements and rapid internet speeds, VR will bring a unique gambling experience to real-life settings in your living room. In the coming years, the gambling industry is preparing to seamlessly integrate metaverse technology to enhance customer experience and engagement.
Why is the TC-Gaming boldly predicting about VR and AR? We all know that iGaming is conducted through the internet, making gaming and gambling closely related to network dependence. In 2022, approximately 40% of the global population are gamers, with over 900 million being esports spectators (watching others play games). The gaming industry is currently valued at around USD$240 billion, equivalent to USD$100 billion for the film industry and USD$26 billion for the music industry combined. Moreover, this industry is growing at a rate exceeding 10% annually. It is evident that the future belongs to iGaming. The current most valuable tech companies globally, such as Apple, Microsoft, Google, Amazon, Meta (Facebook), Tencent, Nvidia, TSMC, and Tesla, have a close connection with gaming. These companies have been accelerating their efforts in recent years. Therefore, the gaming industry is thriving, and gambling is ultimately a form of iGaming. Thus, it is essential to discuss the complementary VR and AR for gaming.
Returning to the topic, let's talk about VR and AR and the matter of the metaverse. After acquiring Blizzard and the push for AI, Microsoft explicitly stated that it aims to be a comprehensive gaming service, aiming to overcome device limitations. Direct gaming from the cloud, or cloud gaming, is what they are striving for. Apart from Microsoft, there are also Nvidia, Sony, Google, Amazon, but solving the terminal problem is crucial for cloud gaming. Hence, the development of VR and AR becomes more critical. Speaking of VR and AR, now Meta (Facebook), Apple, and Microsoft, the three giants, have entered the field. Microsoft aside, why would a meticulous company like Apple put so much effort into MR? Behind the scenes, it is not necessary to say much. Meta, of course, does not need much explanation. The metaverse is not yet mature, but they have invested over USD$20 billion, and it is set. In a matter of years, when a technical issue is resolved, the gambling experience will be different.
Summary
From the above discussion, we can see that the network layout for 2024 will face many new challenges and opportunities. Whether it's the application of blockchain technology, the technological development of virtual and augmented reality (VR and AR), the provision of personalized gambling experiences, or the application of artificial intelligence to gambling, all will have a profound impact on the development of the gambling network.
We look forward to seeing how these predictions become a reality in 2024. In the ever-changing gambling industry, the TC-Gaming will continue to stay updated, ensuring our gambling platform clients maintain a leading position in the competition. We will continue to meet the needs of our gambling network clients by providing the latest technology and high-quality services. The TC-Gaming will also closely monitor industry developments to provide cutting-edge gambling network solutions to our clients.
Whether in technological innovation in gambling networks or in customer service, TC-Gaming is committed to becoming an industry leader. We look forward to exploring new opportunities in the gambling industry together with you in 2024, collaborating to create a better future.
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