In an era where smartphones rule, iGaming has capitalized on mobile technology, transforming the betting landscape. With the majority of online gaming revenue stemming from mobile devices, especially apps, it’s clear that the shift to mobile is key to this industry’s growth and success.
In a world dominated by smartphones, it is of no surprise that different industries have seized the opportunity to leverage mobile technology to maximize their audience reach and revenues. One such industry that has witnessed a drastic shift toward mobile usage is the online gambling industry, notoriously known as iGaming. Interestingly enough, the majority of revenue within the online gambling industry is not generated from desktop platforms but rather mobile devices, particularly through dedicated apps.
The shift to mobile usage in the iGaming industry can primarily be attributed to the accessibility and convenience smartphones bring to the table. The advancement in mobile technology has bred a culture of instant gratification among consumers, which is facilitated by smartphones. Users can place bets or gamble from virtually any location at any time, making it more appealing than its desktop counterpart.
Apps, in particular, are at the driver’s seat of this revenue surge. According to a report by H2 Gambling Capital, a leading gambling industry data and market intelligence firm, apps account for 58% of online betting and gaming gross win with that figure expected to reach 61% by 2023. These statistics offer a clear representation of the profound impact mobile apps have had in propelling the iGaming industry’s monetary success.
Several reasons contribute to this app-driven success in the iGaming industry. Firstly, apps often provide a more personalized, user-friendly experience as compared to websites. They are designed specifically for mobile use, thus optimizing performance and navigation in a way desktops or websites can’t match. An enhanced user experience usually translates into higher engagement rates, which in turn, results in higher revenues.
Apart from a superior user experience, mobile apps also offer the advantage of push notifications. This tool allows operators to engage with the user outside the app through personalized messages, offering promotions, reminders, and updates to bring the user back to the app, ultimately increasing user retention and loyalty.
Innovations in financial technology, or Fintech, have also played an essential role in this mobile app-success saga in the iGaming industry. Banking apps and mobile payments allow for smoother transactions on mobile apps in comparison to online websites, making them an attractive platform for online betting and gaming. Simplicity and safety in managing funds, coupled with instantaneous transactions, keep players logging in and coming back for more.
Moreover, over the past few years, there’s been a significant surge in live betting or the “in-play” option on gambling sites, particularly in the domain of sports betting. Given that sporting events tend to last for several hours, the opportunity to place bets throughout the games becomes more appealing to users. In these cases, mobile apps tend to be more convenient than traditional desktop-based betting, where users would need to be stationary.
While the advancements in mobile iGaming are well underway, it is essential to keep sight of potential risks and harms. Stakes are undoubtedly high in the online gambling industry, and their immersive, ubiquitous nature means they can easily lead to excessive gambling and subsequent issues. It is critical that responsible gambling measures are put in place and followed by the app companies to safeguard the interests of their players.
Nonetheless, the shift to mobile iGaming is inevitable, and app-generated revenue will only continue to dominate in the years to come. The marriage of technology and gambling has created a thriving space for players and companies alike to flourish. As more and more industries hitch a ride on the mobile revolution, it is exciting to contemplate where the iGaming industry will bet next.
Sources:
1. H2 Gambling Capital. (2021). iGaming Mobile Trends.
2. Deutsche Bank. (2020). Mobile Internet in the Time of COVID-19.
3. Capital Counsel LLC. (2019). Effects of Internet Gambling.
4. Comscore Inc. (2019). Gaming Apps Capture Most Mobile Revenues.
5. Mustard Digital.(2020). The Role of Push Notifications in Mobile Betting.
