What is the future of online casinos? The value of the online gambling market is estimated to be $93.26 billion in 2024. Tens of millions of people from every corner of the planet log into online casinos daily to enjoy the thrill of iGaming.
Growth trends for online gambling
Online gambling has advanced greatly in the 30 years since the first online lottery tickets were offered in the Liechtenstein International Lottery in 1994. By 2008, worldwide online gambling revenue was estimated to be $21 billion.
By 2024 the growth of online gambling has created a $100 billion per year industry.
There's no stopping the juggernaut of growth. The online gambling industry is expected to grow to $153.21 billion by 2029. The number of people participating in online gambling is forecast to grow to 291 million players by 2029.
The role of mobile
Mobile phones and devices are spreading at a rapid rate; in fact, since 2022, there have been more active mobile devices in the world than people! As these devices have spread, they have also become more powerful and capable of providing exciting, engrossing, and secure iGaming experiences for players. Today, the best online casinos and game developers optimise their experiences for mobile devices.
The convenience of mobile gaming has opened up the opportunity for players to enjoy their favourite games whenever and wherever suits them, from the privacy of their own study or couch, to the time spent commuting on public transport. At Wildz, we've got all your mobile gaming needs covered: the vast majority of our slots are optimised for mobile devices. Even live dealer games can be played on mobile (though we recommend tablets and devices with larger screens to appreciate the live feed and all its features thoroughly.)
We didn't stop at the gaming side of the equation; Wildz also offers fully integrated mobile payment options.
Digital currencies: NFT and Crypto
The arrival of blockchain technology has ushered in the rise of new forms of digital payment and value storage. What is a blockchain? Simply put, blockchains timestamp data stored in a unique "block" that holds information on both itself (an identifier known as a "hash") and the blocks directly chained to it... which hold information on themselves and the blocks chained to them, and so on. Each block validates the other and cannot exist without validation. A peer-to-peer (P2P) system is then implemented, and anyone who joins the P2P network is given a full copy of the blockchain. Those who've joined are referred to as nodes. Each node validates the other, and when a new block is added to the chain, it is copied to all the nodes. If a block is tampered with, its properties change - and its hash by extension. Once its hash is changed, it is no longer in sync with the other block that holds its hash and becomes invalid.
This is the system crypto currencies and NFTs take advantage of. An NFT (short for Non-Fungible Token) is anything digital that has been "tokenised" and added to a blockchain, from music to a Tweet. Yes, you read right. NFTs sit primarily on Ethereum's blockchain. So, you can think of them as crypto tokens coded with slightly different data.
These new payment methods have also triggered the widespread adoption of e-wallets. At Wildz, we accept many reputable e-wallets. As banking and payment become increasingly more digital, you can rest assured that online casinos will be at the forefront of the digital financial frontier.
The rise of new technologies
The AI revolution is in full swing. One predicted outcome is the introduction of AI Agents that will act as individual assistants to every person. If the proponents of this concept are to be believed, it will mean that the average person will have more leisure time - to game, for example - whilst their AI agents deal with tedious day-to-day tasks and chores.
Another emergent technology is the erosion of the interface between humans and devices. There have been significant progress in recent years towards direct mind-to-technology communication. Ultimately, we may no longer carry mobile devices, and our communication and gaming will be controlled and experienced directly from within our brains. The implications and possibilities are limitless. Imagine computing driven by the most powerful processor - the human brain, or gaming visuals driven by the power of your own imagination.
The future of online casinos
All of these technologies are converging to make the online casino experience more and more compelling. The ability to personalise and tailor the casino experience to each player's specific tastes is unparalleled. Brick-and-mortar casinos can only offer this kind of hands-on special treatment to their VVIP players. These technologies also provide a host of extremely accurate and responsive measures to monitor and ensure responsible gambling.
The future looks good for online players and casinos.