General News
7 November, 2024
Explosive 166% increase between 2022-2023, what is expected for Australia's iGaming industry for 2024-2025
This content is provided by a third party.
This content is provided by a third party.
According to a report by IMARC Group, the online gambling industry in Australia was worth an estimated $4.9 billion in 2023. In another report by the Queensland Audit Office, the turnover of Australia's gambling increased by 166% from 2022 to 2023. The same report has also projected that the market will reach $8.5 billion by 2032.
As we step into 2025, the iGaming industry in Australia is undergoing major changes, driven by more technological advancement.
If you're curious about what's in store for the iGaming industry and how these changes may transform your gaming experience, come along as we walk you through what to expect in 2024 and 2025.
Let's get started, shall we?
Personalised iGaming experience
Whether it's online poker or slots, having a wide variety of games that are tailored to your interests can make your gaming experience a good one. Gaming platforms can also potentially boost retention by offering variety, maximising revenues and fostering customer loyalty by personalising games based on their players' preferences
iGaming platforms in Australia plan to use artificial intelligence (AI) and machine learning (ML) to tailor games based on their players' interests. With the help of AI and ML, the algorithm can better analyse your gaming history and curate games and bonuses that interested you most.
The rise of video game betting
Besides participating in iGaming games like slots, poker, and bingo, betting enthusiasts can also leverage video games to place their bets. Think of video game betting likewagering in a horse racing competition; the only difference is that it would be virtual.
A great example of video game betting is esports, which allows bettors to wager on the outcome of different video game matches, such as Fortnite, Legend of Leagues, and Dota 2.
Once the player has chosen a game, they can place their bet on any iGaming platform offering an esports market. Finding a reliable platform can be a time-consuming process, especially with so many options available to the player. It's usually recommended for newer players to visit a trusted review source, one that offers insights from industry professionals. Each review site has its own specialisation, for example, Australian players will turn to the platform https://aussiebet.com/, which specialises in offering in-depth reviews for operators available in the region, alongside updates about betting laws and regulations. Once a suitable review site is found, you can search for all the information you'll need for esports betting. The next Esports World Cup (EWC) is in Riyadh, Saudi Arabia in July and August 2025. This gives gamers a chance to place their bets on their favourite team and players.
Optimise gaming platform for mobile
According to Statista, the number of smartphone users in Australia is projected to increase by 1.6 million users between 2024-2029. This shows that more people are using, and plan to use, their mobile phones to access the Internet.
This shift in how people are accessing the Internet indicates gaming platforms in Australia need to adopt a mobile-first design. By prioritising mobile users, operators can serve a wide range of audience that might not have access to computers (or use them to primarily access the Internet).
Chatbots and virtual assistants
Customer support is an integral part of every gaming platform. A great customer support can help players resolve issues quickly and ensure they have a great experience. However, providing stellar customer support requires a lot of resources. Gaming platforms are planning to use chatbots and virtual assistants to enhance their support.
By using chatbots, operators can handle a high volume of inquiries and provide round-the-clock support. They can also provide instant replies to customer queries and reduce their wait times. This is a brilliant way to provide instant support for customers who are different time zones and want instant replies to their requests. Chatbots also help gaming platforms automate frequently asked questions (FAQs) and common queries that users might have about a gaming platform.
Operators plan on using more virtual assistants to provide support for gamers looking to talk with a real person. They also plan on using VA to provide multilingual assistance for international games.
Prioritise responsible gambling
With AI technologies, gaming operators are dedicated to ensuring safe and healthy gaming habits in the coming years. A good example is the geo-blocking tool that restricts players residing in locations where gambling is prohibited from visiting the website.
There's also a spending limit feature that prevents users from going overboard. This means that once they hit a certain number, players will be prevented from betting, which is a great way to prevent gambling addiction and minimise financial loss.
Player-centric approach to iGaming
There is more priority for the players and how gaming platforms can best serve their interests. Therefore, there's more consideration for reducing load times and high latency that might leave you dissatisfied.
More iGaming companies are aiming to improve their user experience by building a high-performance server and network stack that's designed for their workload.
Making cybersecurity a top priority
Gone are the days when cybersecurity was an abstract discussion. Many people, especially in the gaming industry, are aware of the impact of cyberattacks.
The iGaming industry is prone to cyberattacks because of the high influx of data and transactions exchanged on the platform. This is why gambling regulatory bodies require operators to provide adequate security on their platforms or they risk losing their license.
The iGaming operators also understand the impact of solid security systems in attracting new players and retaining existing ones. Therefore, there will be continual security measures to protect the sensitive data of their players from falling into the wrong hands.
Social interaction features
Integrating iGaming platforms with social interaction features will create a gaming environment where players can chat, compete and collaborate with other gamers.
Social interactive features, like live streams, friend-lists, leaderboards, chat systems, achievements, and virtual sports can transform a solo gaming experience into a social hub, which creates a sense of community among players.
Cryptocurrency as a payment option
Cryptocurrencies are not new in the iGaming industry, but their applications are evolving constantly. Using cryptocurrency as a means of payment is a great way to process payments without collecting a lot of personal information.
It's fair to say the future of gaming payment is in safe hands as soon as more operators plan to use cryptocurrency as a payment option.
Gamble responsibly. Contact the Gambling Helpline for free and confidential support, information and counselling on 1800 858 858 or visit www.gamblinghelponline.org.au.
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