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The Most Exciting iGaming Trends To Watch Out for in 2024

March 27, 2024

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Canadian iGaming has exploded these last few years. At the pace the development is moving, and with AI as a complimentary tech, it’s safe to say we have more innovation coming in 2024.

Most of these, according to specialized finance site eCheckCasinos.ca will touch on fintech and player experiences. A report they published explains how Canadian iGaming regulation in Ontario is paving the way for new technologies and improvements. Their report is here.

Without further ado, here are the most exciting iGaming trends to look out for.

1)  The Rise of Crypto and Blockchain Casinos

The growth of cryptocurrency and blockchain in iGaming is a major event. Online gambling platforms that welcome cryptocurrency payments have been growing in popularity. It is expected that they will become more popular this year. Crypto casinos offer anonymous digital wallet transactions for gaming. Also, immediate deposits and withdrawals 24/7. Plus, reduced fees and fully transparent game results. You can actually verify each outcome on the blockchain.

One other technology that will for sure get its way into iGaming is smart contracts. This self-executing code on the blockchain runs when preset conditions are fulfilled. It automatically dispenses winnings. This adds security and efficiency to iGaming.

2)  The Importance of Community Engagement

If you’ve been following the success of stake.com you know that community is key. Their lively community is the number one reason for their success. They offer weekly live streams, a huge Discord community, a player forum and live chat where users can chat with each other 24/7. This brings the whole player base together and forms a community that tends to keep players on the site. If you ask us, this is a big brain move, and other operators such as Rollbit have now taken after this success.

These operators really know how to unite fans around their games and brand. These are the casinos that will likely get the best results in 2024. At the same time, those who fail to build and unite their community, most likely are going to lose their position on the market.

3)  Impressive Growth of Esports Betting

Due to the overall popularity of competitive gaming, esports is going to increase its significance and popularity in 2024. An estimated 600 million people will watch soon. Platforms are paying more attention to expand their esports betting. They want to attract more users.

For instance, fans can place bets on particular pro games or even various gameplay metrics, such as the specific number of points by a player. Professionals know esports attracts and encourages a younger audience to gamble. It lets them enhance and showcase their gaming wagering options better.

4)  Fraud Prevention with AI and Biometric Security

The volume of iGaming network transactions is increasing. AI and biometric security will become more common. They will improve customer safety and reduce fraud.

AI and machine learning directly control the cash flow at sportsbooks and internet gaming at a high level. AI systems will instantly tell security teams about any suspicious patterns.

Also, fingerprints, faces, and voices will be the main ways to verify accounts. Biometric verification speeds up registration and login. It does so due to its hands-free nature. It also increases the protection against unauthorized account access.

5)  Compliance and Regulation Technology

As countries consider iGaming laws, RegTech use will be essential for operators in 2024. RegTech refers to solutions designed to help companies rapidly adhere to new or existing laws. It typically involves automation of compliance-related processes.

For instance, real-time transaction monitoring helps find payments that break anti-money laundering (AML) laws. Automated suspicious activity report technologies ensure reports are consistent. They go to regulators like FINMA or the Curacao Gaming Control Board. Enforcers adjust access with geolocation and identity checks. They do so to enforce licensing needs in restricted areas or games. Few sectors have compliance requirements as stringent as and as diverse as iGaming. Integrating and automating RegTech will also cut infractions and penalties. This will enhance public confidence.

6)  Virtual Reality Games and Experiences

Affordable VR devices are out now. Many people know about iGaming. This makes 2024 a breakout year for VR casino games. Developers are aggressively working to expand libraries of immersive slots, table games, and live dealer titles. They will work on titles that work with hardware like Meta Quest headsets.

VR gaming provides unprecedented engagement and fun. This makes online operators eager to diversify. They want to meet fan expectations. Expect VR-specific bonus deals and tournaments intended to attract more players throughout the next year.

7)  Anonymous iGaming through Mix Networks

In 2024, iGaming platforms found a great solution. It is mix networks, also known as mexnets. This was in response to growing concerns over cybersecurity and privacy across digital channels. This technology is a third party service. It enables anonymous communication and transactions.

Crypto casinos permit secure circulation of digital currency. They do not share senders' or receivers' wallet addresses at any point. Not only does this approach increase the level of privacy for all parties involved, it acts as an additional protection against potential hacking attempts focused on account access too.

As anonymity gains appreciation across the internet community, mixnets offer a way for users to keep control over their digital footprint within iGaming as well.

8)  Artificial Intelligence Assisted Gameplay

Given the seemingly infinite progression of machine learning, AI-based player tools will prove to be game-changers by 2024. Without exception, AI platforms will allow even casual players to see into the future by empowering their decision-making capacity with real-time prognostications.

While at the moment the technology is not widely used, you can expect offerings in this niche to increase rapidly over the next year. Developers are exploring AI assistance across major verticals like poker, blackjack, sports betting and daily fantasy sports. Partnerships with top gaming providers signal strong confidence in commercialization of interactive AI gameplay improvements moving forward.

9)  Rise of Multi-State Compacts

For U.S. sports betting, 2024 ushers in a new era of multi-state compacts between operators. These agreements allow brands to pool player communities across different states while collaboratively working to expand regulated betting access countrywide.

Regarding players, it allows for more increased and competitive odds and massive contests. Simultaneously, for operators, it enables a better possibility to oversee their platforms and pubic services. Moreover, strategic connections reduce barriers to negotiate gaming licenses on a large scale . Currently, there are only a few significant compacts, but their number will explode due to multi-sided enthusiasm.

While only a few key compacts exist currently, their popularity is set to erupt given mutual drive for stakeholders. With seven states left to legalize wagering, joint efforts facilitate broader availability.

10)  Mainstream Adoption of Wearables

Wearable devices have floated around the periphery of the iGaming tech sphere for years now. Advancements in miniaturization, connectivity and reliability finally enable smartwatches, AR glasses and fitness trackers to smoothly integrate with sports betting apps in 2024.

This provides the ability to discreetly monitor odds, place wagers via voice and view critical match data in real-time. All without pulling out a mobile device. And it also provides comfort for users who want to stay updated no matter the situation or their surroundings.

This hands-free versatility aligns with expectations of tech savvy users looking to enhance their viewing experience. With open API architecture and surging watch ownership, the stage is set for wearables to stand out as a definitive iGaming focal point over the next year.

Closing Thoughts

The pace of development across online gambling platforms continues to accelerate breathtakingly. While niche sectors like blockchain iGaming and simulated betting have existed for some time now, there are also a number of relatively new and unknown trends that are set to become mainstream in 2024.

See:  Future of Web3 Gaming: Play-to-Own (Ecosystems)

With incredible opportunities on the horizon, we’re eager to see brands across casino, sportsbook and casual gaming fields capitalize in their own unique ways. One thing remains certain - the victory will belong to operators who are able to swiftly adapt and cater to emerging user preferences through focused innovation.


NCFA Jan 2018 resize - The Most Exciting iGaming Trends To Watch Out for in 2024The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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