If future predictions are correct, it’s a new year with plenty of promise for the online casino industry. While eagerly anticipating bigger and better things for the iGaming industry, there’s plenty of recapping to do.

Join us as we take a look at some of the biggest trends and moments from 2023 while also reviewing the forecast and predictions for 2024.

Year in Review: The Big Hits of 2023

The online casino market has seen exponential growth in the past few years. A recent prediction shows that the size of the market could hit a whopping $153.57 billion by 2030, with a CAGR of 11.7% from 2023 to 2030.

The growth of the market is thanks to freemium modes, betting applications and websites. With freemium mode, revenue is generated through integrated advertisement. Gaming platforms have become more accessible, and gaming with mobile devices continues to gain popularity.

The online casino industry has doubled in size in the past few years, with 2023 marking 176 million users and $95 billion in revenue. The United States and the United Kingdom are the top markets at this stage. The industry is showing an average of 20% in year-on-year revenue growth.

Since 2019, there has been an increase in online gamblers by 80 million. The highest number of users is recorded in online sports betting apps and websites. Experts expect the figure to grow from 127.8 million in 2023 to over 156.9 million in 2025.

The second largest segment of the industry is the online casino sector, which has seen a 62% increase in the past 4 years. It has over 94.1 million users, and it’s predicted to reach 112 million users by 2026.

Some of the biggest trends for 2023 include:

• An increase in mobile gaming
• More live dealer games
• Increase interest in eSports Betting
• Increase in legal gaming sites
• Increases use of Augmented Reality (AR) and Virtual Reality (VR)
• More Social Gambling activity

OCR Achievements in 2023

2023 was a big year for OCR, with many milestones achieved, increasing the offering for online casino enthusiasts around the world.

One of the biggest achievements was the rollout of OnlineCasinoReports 2.0 in fifty countries. After the successful release of OnlineCasinoReports 2.0 in Canada, House Tech Ads doubled down on its efforts to ensure the suite of intuitive tools, insightful guides, and customisable search filters would be available to all readers around the globe.

The player’s response to the new tools and features is what prompted the hard work to ensure the rollout across fifty localised sites. OnlineCasinoReports 2.0 features a refreshed design, enhanced features and a user-friendly interface. It was rolled out in fifty countries, including the UK, Germany, Belgium, Sweden, Mexico and more.

Enhanced features include Casino Compare, Casino Search, Bonus Search, and Game Search – all brand reviews being redone to include player-centric information. This allows players to access more details and insights per provider.

New advanced guides are accessible, including progressive jackpots and live games. Other milestones to celebrate include a dedicated free play section where you can try the latest game releases from your favourite providers before playing for real money at any of the top online casinos we recommend.

2024 Online Casino Predictions

If the forecast is correct, there is plenty to look forward to in 2024, with the new year bringing more excitement and high-quality entertainment for online casino players.

Here is a brief overview of the expected trends and innovations for 2024:

• Casino Trends: In the new year, a couple of casino trends are expected to continue and increase across the gaming industry. Some of the top trends and innovations include higher levels of security and increased use of AI technology.
• Security: One of the biggest focus points for online gaming operators is player safety. It’s become a top priority to ensure players have access to secure gaming no matter which site they play at. As we all know, there are various risks to online gaming or entertainment, and the industry is looking to clamp down on these threats and risks. The increase in security includes options like SSL Data Encryption and the use of blockchain technology.
• AI: Artificial Intelligence will play a larger role in online gaming environments. With AI technology, operators can create better and more personalised gaming experiences for their users. Many online casinos are starting to implement AI technology to increase support options and player security. AI is used in customer support, personalisation of the site and facial recognition for safety. The increased use of this technology also reduces the costs in terms of labour and efficiency as AI doesn’t clock off; it runs 24/7.
• VR and AR: Virtual Reality (VR) and Augmented Reality (AR) are expected to be implemented in more casinos. With this technology, visiting a land-based gaming venue is unnecessary if you’re looking for a real-feel betting experience. The technology brings the experience to you via your desktop or mobile device. It allows for a more immersive gaming experience where you can tour the casino and even interact with staff and other players as you would in a regular gaming venue.

• Mobile Gaming: Times have changed, and gaming is no longer limited to desktop devices. The mobile gaming industry has rapidly evolved and grown in the past few years. With mobile apps and mobile browser-based websites, you get to play all the latest games from leading software providers. You can escape the daily grind and play games at any time. More and more users are choosing to enjoy their online gaming entertainment via mobile devices.
• Online Slots: The types of games you get to play online have also changed a lot in the past few years. Now, you get to enjoy bigger and better online slot games, and the quality of these is only expected to increase in the next year. Slot games come in all shapes and sizes with different themes and bonus features, thanks to the advancements in technology. The number of Gen Z gamers is also expected to increase with better technology and games available.
• Crypto and Blockchain: With the use of cryptocurrency and blockchain technology, users can enjoy faster and safer transactions. Crypto casinos are expected to gain more popularity due to the increased levels of privacy in comparison to regular online casinos. Crypto casino players have the option of anonymous gameplay and can expect full transparency from the operator. The prediction is that there will be more development in blockchain casinos in the next year. Many believe it will be a game changer for the industry.
• Responsible Gambling: A primary focus for the industry in the past few years has been prioritising responsible gaming. This trend is expected to continue throughout 2024. The United Kingdom has already introduced a new maximum stake amount for online slot machines. Furthermore, both land-based and online gaming platforms are expected to implement better practices that will allow users to restrict irresponsible gaming behaviour and opt for cooling-off periods should they be needed.
• Live Streaming and Betting: The sports betting industry is expected to continue its current growth streak as more countries are allowing for legal sports betting. Along with pre-made betting activity, there is to be an increase in live-stream betting. With live streaming, you get to watch the games while keeping track of your bets. You also have the opportunity to change bets or add new bets as the game progresses. There are many reasons players enjoy live betting. It’s fast-paced and interactive while you keep your eyes on the game.
• Land-based Gaming: With online gambling sites gaining a lot of attention, there has been a big loss in revenue for land-based casinos. The primary focus in 2024 will be on improving the land-based gaming experience with the addition of more ways to play and special offers. Some of the best casinos are those with food establishments, areas for families, resorts and hotels. By providing all the types of experiences users may be after with additional bonuses and entertainment options, the hope is to gain attraction among gaming enthusiasts. Where they won’t mind the travel as the venues have alternative entertainment options available to enjoy.

These are some of the biggest trends and forecasts for 2024. We fully expect more advanced games and an increase in live slots and other games, too. With twelve months full of potential for both operators and online casino players, anything is possible!

Stay locked in with OnlineCasinoReports as we keep you up to date with all the latest events and changes throughout the online gaming industry in 2024.