In recent years, Igaming has developed into an industry of a huge format. It is even one of the fastest growing industries in the world. In recent history, Igaming did not always have a starring role. Gaming was especially for geeks Who would rather save a virtual princess than go to a bar - unless there might be an arcade cabinet.
Making games also happened in small offices or as a passion project with someone in the attic room. Nowadays it is completely different: gamers are mainstream and game developers do this for billions of companies in impressive office buildings. It is estimated that the turnover of games and Igaming will be larger in 2024 than the music and film industry together. But how did this happen?
What exactly is Igaming?
With iGaming it is simply online gaming meant. It is an umbrella for everything that has to do with online betting. Think of betting on sport, playing in one online casinoo, or online video games with gambling elements. In the past, in the initial phase of the internet, this was only reserved for the technical geniuses among us. It took some knowledge from, among other things, the internet and computers to make everything run flawlessly.
But even among a modest group of people, Igaming grew at lightning speed into a phenomenon, and this caught the attention of business. It was made more user -friendly and further developed into a billion -dollar industry. Gambling at online gaming is possible at the American casinos with a permit.
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The development of gaming
Igaming, as we know it now, is on the shoulders of game greats from the past. Games such as Pong and Pacman have been instrumental in the development of the game industry. This made the way for companies such as Nintendo, Sony and Microsoft to release game consoles that could be played at home.
Also for the personal computer (PC) Games were developed. And with the arrival of the internet there was even the possibility to play this online with and against others. Games like Counter-Strike, Starcraft in World of Warcraft, that the online gaming changed forever at the end of 2004. Nowadays Gaming is inextricably linked to the internet, but this did not happen automatically.
The rise of Igaming
With the arrival of the internet, a new period of creation and industry broke. It was a period of discovery for both users and companies. Developing software was often not a streamlined process, but more a hobby of fanatics. Nobody knew exactly what it was going to be and often it was just speculation, just think of the dot-com bubble.
But as the software got better, there were more opportunities to make money. Companies such as Amazon and Meta have made good use of this. Igaming also became increasingly popular and more extensive. In the end, gaming was no longer seen as a peculiar hobby, but as an industry with a boundless potential - and this turned out to be more than true.
Igaming as an industry
Online gaming has grown from a nerdy hobby to a larger industry than the music and film industry. Certainly during the Coronapandemie and associated lockdowns this has grown exponentially. When the physical environment was slowly closed, people sought refuge in the virtual world. Igaming rose in popularity and became more and more accessible to people.
In recent years, sales have increased by more than 20%. In 2020, about 42% more was also spent on games than the previous year. Having more free time and the possibility to play with friends online contribute to this. The acceptance and, nowadays, accessibility of Igaming ensures that there is still no end to the growth.
Ever bigger
From 2015 to 2021, the number of gamers worldwide has risen by around one billion people. And with the implementation of newer techniques and apps in Igaming, this number will not fall quickly for the time being. Things like virtual reality and the blockchain are still in their infancy and the potential has to give the entire industry an even harder boost. Technology is growing rapidly and the iGaming industry seems to grow at least as quickly.
For example, an online casino is becoming increasingly extensive and has opportunities that an offline casino cannot meet. Also the Bet on sports competitions And other events becomes easier. Take a look at the 2022 Superbowl, where online betting has never been so popular.
iGaming in numbers
So what are the hard figures of the iGaming industry? Analysts claim that this is the fastest growing industry in the world, but it is difficult to point out one number that exactly is correct. Factors such as currencies and short -sighted interpreted figures makes it difficult to make a definitive statement. The value of the entire game industry was estimated in 2021 on 198.4 billion dollars.
The contribution of the online gaming is a significant part of this. According to the company Transparency Market Research Will the turnover of Igaming in 2024 will be around 100 billion dollars. But the growth is so impressive that other analysts had already estimated income at $ 185 billion in 2021.
A global phenomenon
Whatever the exact figures may be, it is clear that there is a lot of money in Igaming. This is not only limited to North America and Europe. About half of the turnover come from Asia and Oceania, with countries such as China, Japan, Thailand, South Korea, New Zealand and Australia. The United States is around 22% and together with USA they form 26% of the market.
However, the numbers are not always reliable. Sometimes the entire game industry is looked at, while others look at the money that is invested in online casinos and on betting on events. Everyone is about the fact that Igaming is the fastest growing part within the game industry.
iGaming in Europa
After North America, China comes in second place with around 25% of the Igaming Markt. The third place is reserved for Europe with 17%, this amounts to around $ 30 billion in turnover. The other percentages are around 5% per other continent, such as South America and Africa. The Netherlands itself is also a major player in the world of games.
The American Studio Guerrilla Games came with the games Killzone in Zero Dawn And achieved success with this worldwide. The Netherlands also seems to follow the worldwide developments of online gaming closely.
smart devices
An important technological development of modern history are the various smart devices like the smartphone in tablets. Igaming rose especially in popularity on the computer and is now being expanded to other devices. As a result, it is always within reach and it is much easier to use.
40% of Igamers who bet online do this from a smartphone. According to Marketers, however, this number is closer to the 50% and this will continue to grow. The larger image of the tablet, on the other hand, appears not to translate directly into more users, this is around 7%. Thanks to smart devices the threshold, to be able to play online, becomes smaller and smaller.
The consequences of gaming
Is rapid technological development always so desirable? There are certainly positive consequences. This way it can be relaxing and there is a social aspect of online gaming. It is also used to train the brain, to promote hand-eye coordination and for educational purposes. Just think of children who quickly learn the English language thanks to games and know a lot about technology in an earlier age.
In addition, it is not unusual that games in business or in the army are used as a training material. However, it is not always a positive development in someone's life. The DSM-5 recognizes game addiction as an actual problem. If you have a lot of gamet, as with any addiction, it can have serious problems on your normal life and (mental) health. This can also occur with iGaming. The advice here is to deal with it wisely and to understand your own limits.
The digital world
Igaming therefore replaces the stone walls of a casino with a virtual casino where more is possible. The digital world has more freedom in that point of view than the offline world. There are more games to play and betting on competitions is many times easier. The software developers also come with more and more user -friendly apps. All this makes Igaming an experience that is getting bigger and better.
And with the arrival of the smartphone, this is possibility regardless of the time or location - if you are connected to the internet. Improving technology also means that it becomes more beautiful, faster and more convenient.
The current trends
The superbowl of 2022 between the Los Angeles Rams and the Cincinnati Bengals was an unprecedented success for Igaming. The online betting doubled itself with the previous year and was good for a joint deployment of 179.8 million dollars. A big part of this success was the range of legal ways to bet on the competition online, for example through apps.
Also the possibilities regarding themes of slot machinesand games like BlackJack in baccarat are strongly developed. Not only the design itself is impressive, there are also new variants that are not possible offline due to technological developments. Beautiful animations and greater experience are brought to the world of the casino by Igaming.
Future trends
The growth of technology is by no means over yet. New development such as the blockchain mix with Igaming. For example, the number of online casinos is increasing cryptocurrencies as Bitcoin, Ethereum in Litecoin Accept as payment. It is not yet entirely clear what the regulations surround crypto Will be, but it is not surprising that this will soon be a popular method.
In addition, virtual reality is on the rise and this will also have an influence on Igaming. With algorithms, games will also become a more personal experience, one in which your preferences are reflected in the games themselves. It is a dazzling future, one where we are still in the middle of.
Micro-betting in iGaming
A development in Igaming that various companies and sports organizations are working on is micro-betting. This means that new developments and parts can be used during a sports competition.
During a competition you can quickly bet on, for example, a collection in baseball. It can even be about a specific throw. For example, it is constantly possible to bet on new elements during an event and they are quickly completed. With the arrival of new technologies, it is more likely that this will go deeper and deeper and the possibilities (almost) are endless.
Conclusion
When the game industry was still in its infancy, it was difficult to imagine how fast it would grow. The game industry is nowadays almost larger than the music and film industry together and is still growing. A large part, and also one of the fastest growing industries, is Igaming. This means online gaming, from competitive video games to online casinos and digital bet at events.
Thanks to rapid technological development and business interest, games have grown into a worldwide phenomenon and a billion -dollar industry. Igaming is further developing with every new technology. And certainly with the rise of smartphones and apps, it is more accessible than ever before.
Frequently Asked Questions
Igaming is a collective name for everything that has to do with online gaming and betting. You can think of online casinos, final machines on the internet and betting on sports competitions or events. Also online video games and any gambling elements that go with this fall under the term. Nowadays this often happens via an app and thanks to the smartphone it is more accessible than ever before.
Within the game industry, Igaming is a large part and, in itself, one of the fastest growing industries in the world. In addition to online gaming, online casinos and the online use of money at events are also meant. Thanks to the developments of the game industry and the internet, Igaming has also made huge jumps. They constantly influence each other and ensure that the game industry will soon be larger than the music and film industry together.
Thanks to technological progress, it is possible to do Igaming everywhere, as long as there is a connection to the internet. It is of course possible via the browser, but due to the rise of the smartphone there are numerous handy apps. For example, it is possible to use money everywhere and without difficulty at events and to play your favorite casino games. Thanks to new progress in hardware, software and developments such as the blockchain, Igaming continues to develop and the possibilities are constantly increasing.
