Take a look at top predictions for the most important departments in the online gambling industry for 2023.
The online gaming industry continues to transform and expand with continuous growth and development. At the end of every year, predictions are made regarding what is expected from the industry in the year to come.
While not all predictions necessarily come true, many are spot on or vital in driving the industry forward .
Here are some of the top predictions for the year ahead for the industry and its leading departments.
The Investment Climate
It’s well-known that in the last year, the rates have increased , leading to a rise in the cost of capital to combat high inflation. This directly impacts the spending and investment decisions of both households and businesses. While businesses had strategies that enabled them to take more risks a year or two ago, it is no longer possible in the current financial climate. Risks are no longer freely taken .
According to the Founder and Chief Investment Officer of Waterhouse VC, Tom Waterhouse, many loss-making wagering industries and businesses opted for less marketing activity at this time with a bigger focus on profitability. At the same time, other more profitable operators can use this time to their advantage to continue advertising and gain more footing in the market.
The belief is that this year the focus in terms of investment will be savvy business deals that are less risky and more of a guarantee. There will be times when investors look at speculative deals, but higher-risk type dealers are no longer a top focus considering the rise in rates.
Marketing Predictions
There are certainly a few exciting predictions for the year ahead in the marketing world. You can expect a rise in the use of services like TikTok, Instagram Reels, and YouTube Shorts. Quick video-based content that is easy to digest is the future.
An exciting prediction is seeing more AI-powered initiatives in the gambling world hitting mainstream media. This is where AI engines will engage and prompt consumer action creating a unique customer journey from commerce to gaming.
Social media will continue to be developed and sharpened as a customer-focused tool used for promotional and sales purposes.
The concept is clear, customers care about businesses, brands and their backgrounds. With the ability to connect, inspire and influence, social media has become an easy way to affect sales without really increasing marketing budgets.
Technology Predictions
Investments are more focused; marketing is more poised, leaving technology at the centre. What can we expect here?
According to Jamie Mitchell, Low6 co-founder and CEO, this coming year will be the defining year for the underlying foundations of web3 as they prepare to move into a more immersive world.
Mitchell is confident that NFTs will be better applied as practical value adds, and blockchain will be at the forefront.
Eric Frank, the founder of Odds on Compliance, claims that the current economic state will impact the industry. Integrating technology that works smarter, more efficiently and cost-effectively is crucial. This way, it’s possible to lessen the impact of the financial stress while still making the most revenue and increasing your influence.
Global Predictions
Here’s a quick glance at the predictions, wants, and views for gaming industries across the globe :
Africa
Yahaya Maikori, a partner at Law Allianz, believes that indigenous operators listing their businesses on local stock exchanges will signify the coming of age within the industry. It will make the industry mainstream and gather the needed investment for the industry.
North America
Eric Frank, CEO/ Founder of Odds On Compliance, hopes that any of the large states currently without legal sports betting will continue to advance their legislative efforts. This can include states like Texas, Florida, or California. Some Challenges ahead include Responsible Gaming initiatives that don’t seem enough to protect consumers.
Asia
Alidad Tash, managing director of 2NT8, wants things to go back to simpler times as per the 2019 levels for all jurisdictions aside from Macau. At this time, it’s not innovation that is needed; it’s a way through the recession.
Great Britain
Rawa Kaftan, an associate at Wiggin, has his eyes set on reform, particularly the white paper promised in 2020. There is a continuous delay, and the state is in limbo, with no meaningful plans being drawn. The publication of the white paper will end current uncertainty and help businesses make longer-term plans for all British-facing operations. Ultimately the one thing that could change the industry here is the white paper.
Latin America
Karen Sierra-Hughes, vice-president of Latin America and the Caribbean’s Gaming Laboratories International (GLI), hopes the new year will revamp opportunities for countries such as Peru and Brazil in the first half of the year and the second half. The prediction is that new lottery verticals and sports betting opportunities will arise at State Lottery Level within Brazil and that Chile will pass the online gaming legislation paused halfway through 2022.
There is also a chance that more regulatory developments will start in the Argentinean provinces. The hope is for LatAM operators to explore markets outside the regions to increase their growth and expand their opportunities.
Another exciting development could be the expansion and exploration of Omnichannel, which links the land-based gaming industry and online customers together . With Omnichannel, you can take advantage of game contracts, use cashless and non-traditional payment methods , enjoy high-quality games, and so much more.
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by 
March 14, 2023
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