The iGaming business is growing exponentially, and it’s fast becoming a booming global industry with key players, emerging markets, and technological trends. Let’s explore what makes this particular field of gambling so fascinating.

iGaming is a relatively new term but is quickly gaining traction in the business world. Still, many people outside the gambling world are confused about what constitutes this term.

What is iGaming?

The term iGaming is often confused with gaming; however, this form of online gambling aims to emulate real-life casino games in a virtual environment.

In the narrow interpretation, iGaming refers to online betting on the outcome of chance-based games using electronic platforms. In this context, the ‘i’ in iGaming stands for Internet.

However, if iGaming involves placing bets through the Internet, it falls within the wider scope of gambling, which includes various activities such as casinos, sports betting, sweepstakes, lottery, bingo, and card games.

When using the term iGaming in a broader sense, we refer to an industry encompassing numerous online verticals and the various entities operating within them.

Difference between gaming and iGaming

Gaming encompasses physical activities that involve games such as board games, card games, and video games played on a console. On the other hand, iGaming refers to playing games online on a mobile device or computer/laptop, which includes casino games or slots.

Gaming requires a physical component, whereas iGaming is limited to the online space. Another crucial difference between gaming and iGaming is the social aspect. Gaming, for the most part, is a form of social activity where players compete and interact with one another, often in real-time.

Many will argue that iGaming is also social, and they’ll be right. However, the difference is that iGaming players communicate with each other through chat rooms, which do not provide the same human-to-human connection.

What sets iGaming further apart from gaming is legal regulations. Gaming has a recreational nature and is very much practiced at home or another venue. iGaming, on the other hand, is strictly regulated, even prohibited in some countries.

In other words, you can enjoy gaming unconditionally anywhere, whereas iGaming can be practiced under special circumstances and conditions. Considering the legal requirements, certain casino games might not be available in a particular area or require additional steps to be played.

Now that we have seen what constitutes iGaming let’s break down its core components.

iGaming service providers

Online gambling can be enjoyed in various ways, and the commonality between them is that behind each of them stands service providers. These business entities ensure that all games run smoothly and that the websites or platforms work without obstacles.

The iGaming providers are responsible for managing licensed online casinos and gambling websites. These providers offer a wide array of services, including casino and live casino games and sports betting, all aimed at ensuring a favorable player experience. Typically, iGaming operators collaborate with B2B providers, who supply products to them, and affiliates, who generate website traffic on their behalf.

Every iGaming provider’s core product is its software, which can vary in its purpose and functionalities.

iGaming software

When iGaming first appeared, it was limited to online gambling websites. As technology progressed, companies slowly began to experiment with mobile offerings. A recent trend among online gaming operators incorporating iGaming platforms is offering a dedicated mobile gambling experience. This allows players the freedom to enjoy their favorite games anywhere and at any time,

Considering this trend, there is a rising question of whether players prefer to play online casino games and place bets on a computer or mobile phone.

Most players liked the website casino experience a few years ago. However, during the last couple of years, mobile gambling gained popularity, with more operators offering games for mobile devices. The new wave of gamblers now wagers almost exclusively on mobile devices. Mobile is preferred for its practicality, user-friendliness, and greater optimization.

It is believed that senior players typically make bigger bets, are more active, and play more frequently on websites than younger bettors who lean more towards mobile due to attractive bonus schemes and low bets.

Selecting the right platform impacts immediate outcomes and long-term objectives. Companies like EGT Digital offer the essential technology and tools to establish a thriving and competitive iGaming business.

iGaming payment options

Payment processing is crucial in casino software, which requires attention and examination. It is highly recommended to thoroughly assess this aspect when evaluating an online casino website or gambling app, as encountering flawed payment processing later can lead to significant stress and inconvenience.

Efficient payment processing involves smooth acceptance and handling of deposits and withdrawals for every player. Leading online casinos provide a wide range of payment options, such as credit cards, prepaid cards, and e-wallets, to cater to individual preferences.

The constant rise in the demand for mobile games, cryptocurrency adoption, and open banking is leading to monetization challenges, which could affect payment processing speed and cost.

The human factor

In the age of Artificial Intelligence, everything is becoming automated. Therefore, Al is believed to have a huge impact on many professions – however, when it comes to customer support, many prefer to hear a warm voice instead of writing to a chatbot.

The reason is that people have more trust in another human being than in an electronic assistant. Furthermore, the role of customer support in the iGaming business is essential.

Its primary goal is to guarantee users’ satisfaction with all gambling services. Customer support responsibilities include assisting players with technical processes, software failures, and errors at every stage of the player’s journey through the online casino platform. Immediate responsiveness is a must during every point of customer experience.

Customer support also plays a vital role in conflict resolution, as agents are obliged to act quickly when any attempts for fraud are identified. Support agents also help customers choose the best bonus plan and guide them through the extensive game portfolio.

A good agent must suggest several different payment methods according to player preferences. In addition, customer support provides clients with promotions to keep them engaged and provides VIP packages to long-time, loyal customers.

Marketing and promotions for the iGaming industry

Marketing is an essential aspect of the iGaming industry as it contributes to reaching a broader and more diverse audience. Considering the highly competitive environment, every business must implement a robust marketing strategy.

In the following paragraphs, we will highlight the most crucial marketing components of iGaming.

SEO

Online visibility is vital, not just for iGaming establishments, but for any business operating online. To secure higher positions in Google search results and enhance their online presence, companies, including online casinos, rely on tools for Search Engine Optimization.

Landing page optimization

Apart from dedicating resources to Search Engine Optimization tools, iGaming businesses aiming to enhance their online visibility should also create keyword-optimized landing pages for their top services and products.

It’s crucial to optimize these pages for the right keywords to appear on the first page for the desired search query. Moreover, it’s best to integrate keyword phrases closely tied to the services and products these gambling businesses promote.

In addition, landing pages created for marketing objectives have intriguing headlines, descriptions, and visually appealing images or videos.

Promotions

The significance of bonus campaigns and promotions for the iGaming sector is undeniable. The allure of complimentary in-game items and special offers strongly impacts customers, so numerous online retailers strategically offer diverse promotions.

By implementing bonuses and promotions, iGaming operators attract new customers, who are more likely to purchase during sales. This is a great way to diversify your player base and potentially increase revenue. However, operators should be cautious when designing promotional campaigns and avoid making unrealistic offers.

Importance of iGaming regulations

We have touched on many important points in the iGaming business, but compliance and regulations are the most critical aspects for any iGaming business. If an online gambling company is not compliant with the regulations of the local jurisdiction, then it will be prevented from conducting a legal business.

The iGaming industry remains influenced by compliance and regulations, molding an environment of enhanced safety and responsible gaming for both players and operators.

Some of the existing gaming laws predating the development of the Internet have not yet adapted to the new digital gambling reality. Despite the prominence of iGaming as a global industry, online gaming remains unregulated in several regions, and prevailing gaming regulations often appear outdated.

Even in jurisdictions where gambling is regulated, existing laws may be significantly more permissive. This highlights the urgent need to introduce more comprehensive regulation in all jurisdictions to ensure compliance.

Conclusion

Internet-based wagering and gaming stand out as a fast-expanding and profitable business. Interactive games have seen sustained and gradual progress in recent years.

Online gambling is also popular among younger audiences due to a combination of several factors, including the accessibility of the Internet and continued innovation in iGaming technology.

As new markets emerge and existing ones become more regulated, iGaming will become an even bigger industry with a diverse selection of key players and an ever-growing fanbase.

FAQ

What is the iGaming industry?

iGaming, in its narrow sense, refers to online betting on chance-based games via electronic platforms, with the ‘i’ standing for Internet. This form of gambling includes activities like casinos, sports betting, lotteries, bingo, and card games. Broadly, the iGaming industry encompasses a wide range of online gambling activities and the entities involved in them.

What is the difference between gaming and iGaming?

Gaming involves physical activities like board games, card games, and console video games, while iGaming refers to playing games online via mobile devices or computers, including casino games. Unlike gaming, iGaming is confined to the online space and lacks the same social interaction, with communication primarily through chat rooms rather than real-time interaction.

What are iGaming operators?

iGaming operators are companies or entities that provide online gambling services to customers. These operators manage and operate online platforms where players can engage in various forms of gambling, such as casino games, sports betting, poker, and more. They are responsible for ensuring the legality, fairness, and security of their platforms, as well as providing customer support and payment processing services.