The online gambling industry and the gaming sector are both billion-dollar industries that are experiencing periods of rapid yet sustainable growth. Meanwhile, the distinction between the two of them is becoming increasingly blurred as both adopt elements of the other to draw in more players.
As the demand for online entertainment grows, facilitated by access to powerful smartphones and high-speed internet, more and more people are becoming exposed to gaming and also gambling. In 2022 the global online gambling industry will be worth $153 billion, with online gaming reaching $235 billion. This presents many opportunities for those working in either sector or looking to combine them both.
Online casino
The online casino and gambling sector has evolved significantly in the last decade. It comprises games such as poker, roulette, and craps, as well as video slots, lotteries, scratchcards, and bingo. Out of these, video slots are the most popular, followed by table games that bring in social elements and even stories and themes. Some online casino companies offer free-to-play versions or social casino games that do not use real money in wagering.
This is one example of the crossover and convergence between the two sectors. There are also examples of once typically gaming items such as loot boxes, skins, and avatars being used to wager both in safe casinos that have a good reputation and appropriate checks and balances and esports sites that provide betting on the outcome of gaming tournaments.
Online gaming
Due to technological transformation, a focus on social gaming, and the fast internet, the gaming sector has changed beyond all recognition in the last decade. Games are now more realistic than ever before and can bring together an almost unlimited number of people. But gaming has also come to our mobiles in a new way, through social games and mobile applications that provide entertainment for those who want it on the go and on demand.
There are more than two billion mobile gamers worldwide, and this is increasing every day as more games come on the market. RPG, arcade, logic, video, racing, adventure, sports, fighting, strategy, educational, shooter, puzzle, tactical, trivia, and casino games.
Esports
As mentioned already, esports is an excellent example of the convergence of the online gambling industry with the gaming sector. esports is the viewing of gaming tournaments for entertainment purposes, with a growing number of spectators also betting on the outcome. This sector has witnessed great attention in the last couple of years and has helped open up the gaming world to gamblers and vice versa. The esports sector is now worth around $2 billion, and it is growing quickly.
It is further bolstered by income from sponsorships, streaming subscriptions, software and hardware, and merch. In terms of the cross-over, betting on esports is also finding a place amongst betting on other kinds of sports, with more and more people wagering on it and considering it a sport in its own right.
Over the coming years, it is clear we will see a greater convergence between iGaming and regular gaming, resulting in a bigger, broader, and better sector than many of us could have ever imagined.