Published on November 26th, 2024 | by Jameelah "Just Jay" Wilkerson

As the iGaming industry soars in 2024, we explain why online casinos still dominate

The iGaming industry is continuing to grow at a rapid pace. As of 2024, it is thought to be worth $97.15 billion globally. However, it is also expected to grow at a compound annual growth rate of 6.47% between 2024 and 2029, thus anticipating that the market will grow to a potential worth of approximately $132.90 billion.

In addition, there is an expectation that the market will grow in terms of user penetration and player numbers. It’s currently estimated to be at 6.2% this year, but it is expected to be around 7.7% by 2029, with 290.5 million users expected to be enjoying iGaming activities by the end of the same period.

As a result, this suggests that online casinos are dominating, and they can be expected to continue to do so. How is this the case?

New Opportunities

While the iGaming industry is already extremely diverse and provides several options for players, it continues to evolve and create new opportunities that make it more accessible than ever.

We’ve seen the rise of crypto casinos following the development of cryptocurrencies. At the same time, a no verification casino has also become a popular option that has been created to increase the availability of the market to new players. Gamers who wish to be anonymous or share very little data about their identities can now enjoy new gaming sessions, as they don’t need to share personal information with the sites that they may use.

Technological Advancements

New technological advancements have meant the iGaming industry has been able to evolve further and develop. New player experiences are being obtained through innovative features and designs, which have helped online casinos to thrive.

Players have continued to demand immersive and realistic gaming sessions. The technology available has allowed players to obtain this, especially when engaging in live casino gaming. They can receive authentic play as they can be transported into a lifelike casino environment, giving them an experience that is akin to one that they would receive if they were to play at a physical venue. There aren’t many games that have been able to provide or implement this type of technology, meaning casinos can continue to dominate.

Offers more perks than traditional casinos

While online casinos can now provide experiences that are authentic and a sense of realism, they can also offer players several perks that traditional brick-and-mortar establishments simply can’t.

Bonuses, varied payment options, and the number of games can be just some of the noticeable differences that can be obtained when playing online. Sessions can also be personalized, which can improve the sessions that are obtained. As players feel more valued, they are more likely to engage in online play, meaning they could ultimately spend more over a period. This is also more likely to happen as they are more accessible, as players can game 24/7 and don’t have to travel to a venue that may not be local to them.

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