Summary
- Stream betting is on the rise as gamblers seek an exciting experience.
- The iGaming industry is following market trends and adopting user-centric approaches.
Sports betting has always been a popular form of entertainment for fans, with many betting on their favourite players and teams before the games. However, recent data shows stream betting is increasingly gaining popularity as most gamblers now prefer to place their bets as the games unfold.
According to a recent report by BestGamblingSites.com, two-thirds of all bets are placed during live events. This hasn’t always been the case, and according to the site’s CEO, Freddie Smith, in-play betting is drawing in fans because of the thrill.
Most markets are adopting a user-centric approach, and iGaming is no different. There are so many platforms out there, so now players are not just looking for a betting platform. Instead, they are after the experience. Stream sports betting offers the dopamine rewards online bettors crave and adds excitement to the entire viewing experience.BestGamblingSites CEO, Freddie Smith
Live Casinos & Esports Are Also Popular Among Gamblers
Slot games are still quite popular among gamblers, with many of them using live casinos as portfolio complements. However, this may not be the trend in a few years, as the market is slowly shifting towards live dealer games.
The crypto community seems particularly keen on live casinos. Data shows that live dealer games made up 1 to 4 of the top 7 most popular games for crypto enthusiasts. With the crypto industry expected to grow at a 12.2% CAGR rate from 2023 to 2030, we can expect a similar trend with live casinos.
Although still in its infancy, crypto integration in the iGaming industry is on the rise. As the industry becomes more regulated and more people onboard, more casinos will start accepting crypto payments.
Esports betting has been around for a while and is projected to reach $24.19 million in market value by 2028. The introduction of esports to online sports betting brought about a new demographic of young tech-savvy viewers as a potential base for bookmakers, seeing as 70% of online gamblers fall under the 18-39 age group.
Currently, the global online gambling market is valued at $58.2 billion and is expected to hit $145.6 billion by 2030.
Game Technicals Need to Cater to Live Betting
The report also cautions developers against designing just for the sake in 2023 and beyond. With the number of online betting platforms increasing each day, players have many options to choose from. Developers need to go beyond technical sustainability and include quality games and events covering a range of disciplines.
The excitement and engagement that comes with live betting is a major deciding factor for gamblers today and should be a focus for developers this year. The report further indicates that marketing trends in iGaming will shift towards player engagement.
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