What’s next for the online cash gaming market?

The gaming world gets a huge amount of press, and rightly so. Experts suggest that the sector may grow to the $100 billion mark by as early as 2018. The online gaming sector currently sits at $64 billion for 2014.

This financial surge is down to a few things, with the next-generation consoles and the rise of smartphone gaming both being the two obvious reasons.

Technological advances really are revolutionising the industry. Smartphones, especially, are changing the way we look at our gaming experience. Long gone are the times when a game could only be played from the comfort of your room.

However, for all the talk surrounding gaming, there is a sector of the industry that does not get much media attention. Online casinos can now be considered as a legitimate part of the gaming sector. Indeed, experts suggest the sector will be worth more than £3 billion by 2016. However, they get no mainstream press and, when they do, it is either ill-founded or bias.

But, much like Sony and Microsoft, online casinos now have to decide what they are going to do in the upcoming years to continue riding this gaming wave. If they fall behind, then there is a very good chance that they will get completely left behind.

So, what steps can the online gaming industry take to sustain their growing popularity?

Social Media

Social media is business’ best friend. Any company who can successfully incorporate social media into their product are onto a winner. The online casino industry is no different.

If you look at companies like 32redbingo.com, they have no problems in breaking the age-old bingo covenant of silence when the game is in play. Rather, they actively encourage their players to chat to one another when they are playing. This is a feature that has proven to be very popular with both new and old players. The chat function removed tedium from the game and gives players a more immersive feel. Pragmatism and innovation like this is vital to sustain profit.

An online betting firm last year attempted to get social media betting off the ground to little avail. However, there is a platform to build on and expect to see more and more online casinos and bookmakers attempt to move into the market. The idea was that you could bet against your friends, which in theory sounds like a money idea. If 32Red, for example, can successfully intertwine social media into the realms of gambling, they would shoot to the front in regards of relevance.

Consoles

This is another big one and a domain that online casinos and sportsbooks should be able to move into at some point. With the Xbox One and PS4 trying to market themselves as more than game consoles, you would think it would only be natural that bookmakers try and find a home for themselves there.

It is a difficult task, though, with each country having different gambling laws. The federal system in America makes gambling legislation an absolute nightmare in regards to legality and age restrictions. However, we live in a world where we can put a man on the moon so surely we would be able to find a way around this.

In essence, there is nothing to differentiate between playing a video game and a casino game. They both function on the same principle of fun. Sports games on video consoles do very good business – every time a new FIFA or Madden is released, EA’s share prices increase significantly. The point here is that sport fans are the type who are more inclined to gamble and if online casinos can get onto consoles they can offer them an all-in-one service. That is something that should see their revenues spike.

Crossing platforms is the only way that online casinos can grow their client base.

The battle for rights

It can come as surprise when you visit an online casino for the first time. The sheer volume of games on offer is ridiculous. You are not subject to casino classics, rather, you can play licensed Marvel and DC slot machines amongst others. Game of Thrones has just made its way online with 32Red while other notable shows like The Walking Dead will also be making their way online.

If online casinos can acquire more permits, then they can latch onto the popularity of these shows and movies, which in turn should again cause revenues to rise. With Star Wars returning to our screens this year, it would make good business sense to try and acquire the rights to the new movies.

Conclusion

It is imperative that online casinos stay current. If they can do that, they will hit their margins and continuously remain in profit.