Players gravitate towards a deeper sense of purpose and community fostered by in-game competition, social interaction, and collaboration – an observation from a survey outlining the 2024 industry trends. Amidst the evolving iGaming landscape, SOFTSWISS shares a comprehensive report detailing the key trends that will shape the industry in the coming year.
Based on both internal and external inquiries, the report covers a spectrum of existing and emerging trends. Through comprehensive descriptions and insights from SOFTSWISS experts, this free download aims to assist iGaming businesses in shaping their strategies for the next year.
Outlined below are three examples from the extensive array of iGaming trends, offering a glimpse into strategic insights for the industry.
Local Regulation
The iGaming landscape is evolving with a patchwork of local regulations, reflecting individual countries' efforts to tailor frameworks to their social and economic goals. These regulations signify more than legal requirements; they represent a nation's commitment to cultivating the iGaming sector for its benefit.
“Marking a significant milestone for the entire industry, Brazil entered the regulated iGaming sector in 2023. This move not only demonstrated the country's commitment to self-regulation but also aligned with a broader global trend. The shift signifies a crucial transformation within the industry, indicating a collective move towards more structured and trustworthy markets on a global scale,” states Max Trafimovich, Chief Commercial Officer at SOFTSWISS.
Upon analysing the data, it becomes evident that Latin America holds the most promising prospects for iGaming in 2024, followed closely by North America and Europe. The Asia-Pacific region also offers a substantial opportunity, while Africa and the Middle East, although with a smaller market share, still present noteworthy possibilities.
Player Welfare
The focus on responsible gambling remains prominent in the iGaming sector. Its growing impact extends across various operational aspects, encompassing player engagement and marketing strategies. This emphasises the industry's dedication to prioritising player safety and overall well-being, solidifying its reputation for upholding ethical standards and bolstering customer loyalty.
Among the fundamental factors driving responsible gambling issues, respondents highlight regulatory requirements, media attention and public awareness, potential legal consequences, and ethical responsibility.
Gamification and Collective Gaming Experience
SOFTSWISS experts recognise gamification as a pivotal future focus, responding to the evolving iGaming landscape where the lines between gaming and gambling are increasingly blurred. This move aims to cultivate a gamified experience that aligns with players' evolving expectations – engagement extending beyond basic gameplay.
The iGaming industry is on the brink of a significant transformation, with the incorporation of social elements emerging as the next major trend in player engagement. Tournaments, challenges, and team competitions are taking centre stage, fostering a collective gaming experience that appeals to players seeking the camaraderie of offline settings in the online domain.
Valentina Bagniya, Chief Marketing Officer at SOFTSWISS, summarises: “Being an innovative tech company and one of the iGaming leaders, SOFTSWISS recognises its responsibility as an industry trendsetter. This report is our significant intellectual contribution to the development of our sphere, especially during the pivotal period when companies are enhancing their business strategies for more impressive results in the upcoming year.”
