Interactive gaming, called iGaming for short, describes any bet electronically placed on any game of chance. It allows you digital gambling activities, convenience, diverse gaming options, and more, over your favorite casino games, sports betting, lotteries, etc.
Multiple developments brought about by technological improvements in iGaming prompted the emergence of new verticals. As a result, the necessity to develop into a full-fledged industry emerged. Today, “iGaming” has evolved into many other fields. We currently have companies that are iGaming regulators, iGaming software suppliers, etc.
How has gas iGaming fared over the years, and what new developments are changing the industry for good? In today’s casino news, we will answer these questions to keep you up to date with this topic.
Read on!
iGaming: The Boom of Entertainment
The 2020 pandemic was a catalyst for the iGaming industry’s growth. Many land-based casinos and other local gaming outlets could not operate. Therefore, the need to still have fun playing games like Blackjack, Baccarat, Roulette, etc., or even new games like the Color Table Game, led many players worldwide to try the online alternative, and enjoyed much fun while getting exciting payouts.
Following these events, many payers see no need to leave their comfort zones at home to play top casino games they can easily enjoy on their PCs or mobile phones. And the resultant effect can be seen in the industry’s revenue.
In 2021 and 2022, the iGaming market estimated value was over $61 billion and $63 billion, respectively. The market is expected to be worth a compound rate of 11.7% over $153 billion.