By the end of 2025, the online gambling market is expected to have generated $107.70 billion in revenue. For this to happen, the iGaming industry will need to grow by 5.42% from the previous year.
The market is also expected to see a greater influx of users. Next year, about 6.6% of the world population will have accessed some form of iGaming software, and that number is expected to hit 7.6% by 2029. All these statistics point to one thing, the impact of iGaming software development.
The rate at which the online gambling market is booming can be correlated to the innovative designs of online betting platforms and iGaming software. This article will expound on the innovations in the iGaming software market and what developers can learn from them.
Product development
Brainstorming ideas for new iGaming software may be rough and full of sketches, but the final product design should be clean and clearly defined.
IGaming software that hit the market and became fan favorites have been subjected to a product life cycle that integrates quality from process, and strategy, to mockups, and finally the fully flushed prototype. Quality product design is critical to the success of any iGaming software.
Another integral aspect of the iGaming software market is variety. Most software providers in the iGaming industry boast of thousands of games developed over the years.
Game types range from casual games like cards, to action ones like combat, strategy games, and role-playing games. The best gaming providers have their development teams build games that can cater to users' preferences and budgets.
There are four popular revenue models in the iGaming market that developers can adopt for other industries. They include the free-to-play, pay-to-play, freemium, and subscription models.
In practice, the revenue model developers integrate into a product is based on the client's requirement. Casino sites could offer free-to-play as a no-deposit casino, or in the form of a demo section with no player rewards, pay-to-play, which is the common style, or subscriptions in the form of exclusive games for VIP members.
Mobile & Web development
Online gambling operators invest significantly in website design, as a site’s user interface and experience hold the key to attracting new members.
Search engine queries like casino sites with the best design have considerable volume, showing how much players find a site’s UI design important. Casino reviews like the AskGambler’s list feature casinos with smooth and attractive user interfaces.
Current iGaming market trends show that iGaming operators are turning to progressive web apps (PWAs) to build cross-platform apps more easily than they would with native apps.
This allows for more mobile-driven responsive web design and API integrations across devices, from smartphones and tablets to desktops.
Developers entering the iGaming industry should prioritize web designs that are primed for 5G technology as more users are switching to the faster internet lane.
Online casinos and sportsbooks use Web Real-Time Communication (WebRTC) to deliver real-time streaming for live dealer games and live matches.
Other web integrations essential to providing users with a top-notch experience include the use of chatbots as customer service support tools, and data feeds like the odds feed, live scouting data, and stats widgets. For instance, casinos that offer provably fair games display statistics of each bet, giving rise to more transparent betting.
Regulation in iGaming
One key aspect developers would stay on top of when building in the gambling industry is the regulatory space. Statistics show that in global comparison, the United States will generate the most revenue, about $29.7 billion in 2025.
Working with clients based in the US requires paying close attention to what gambling products are permitted in the state where the gambling business is based.
Sweepstakes games, for instance, are legal in states like California but not in Maryland. The US is currently working on creating a gaming authority.
In the meantime, the American Gaming Authority (AMA) is in charge of overseeing all the gaming markets, iGaming included. Staying updated with the news is important for developers to accurately advise clients and build legal gambling products.
One strategy peculiar to the iGaming industry is the development of websites with regional subsidiaries. Stake.com and Stake.US belong to the same company; while one operates globally, the latter is dedicated solely to US users. Building iGaming sites based on region can help developers comply with geographical restrictions.
Blockchain
Many online betting sites are shifting to blockchain for payment processing due to the strict regulations on conventional sites. Online iGaming providers are expected to store a database of user identity information and also keep to anti-money laundering policies.
Crypto casinos and sportsbooks offer users an anonymous place to bet without using traditional payment methods. With the use of blockchain, players in crypto-based gambling sites can bet with Bitcoin, Tether USD, and other cryptocurrencies.
Developers in iGaming also build brand-based currency to allow players access to crypto easily. BetFury is one of the crypto casinos with the native token, $BFG. These branded tokens are an important part of a brand's promotional arsenal for loyalty rewards and perks. Users also get to enjoy lower transaction fees and faster transactions.
According to a Statista survey, more young adults indicate they used cryptocurrency to pay for gambling in 2024. The trend is expected to continue as crypto regulations become less stringent. The number of crypto users is soaring, signifying the need for developers to consider integrating blockchain payments.
What the iGaming Software Market Reveals
The iGaming market provides insight into critical aspects that guide a product from development to launch. First and foremost, developers must get familiar with the regulatory terrain where the product is to launch.
Prioritizing user experience while ensuring a software’s interface is appealing is also important to building successful products.
Accessibility should be a major focus for developers looking to build a product with cross-border functionality. In the iGaming space, blockchain is the perfect solution to solve cross-border payment limitations.