The iGaming industry — also called sports betting — may be recent, but is already moving huge amounts. Learn more about it!
Even with some access limitations, iGaming is gaining more and more space in the market. Regarding gambling, lottery, roulettes, among others, its main difference is the location: instead of physical establishments, it is carried out on the internet — thus the “i” at the start of the term.
Those who look from a distance may have doubts about whether this type of game really generates good business results, but make no mistake: the iGaming industry — also called sports betting — may be recent, but is already moving huge amounts of money.
Next, we'll talk about the popularity of this market and what lessons can be learned from it, even for other segments. Enjoy your reading!
How did iGaming emerge and evolve?
Games of chance are part of the culture of different peoples. From simple activities, such as who manages to hit a container with a stone, to more complex ones, such as a sequence of cards, represent this universe.
Of course, between one and the other, there are quite explicit differences. In addition, there was a whole trajectory to reach the type of game we have today, especially when it comes to casinos.
Land-based casinos are physical casinos or game rooms that initially appeared in Europe — the first record is in Venice in the 16th century. Many of the city's visitors were inspired by its casinos and decided to take the idea to their hometowns.
Thus, the idea traveled to Paris, and it was there that the first game room in France was built. Interestingly, this is also where the first roulette game appeared. As people visited the city during the 18th century, the idea of a casino spread across the continent and finally reached the USA.
Since then, these ventures have changed a lot, bringing a kind of user experience that left the real world and went digital. However, it must be said that if, on the one hand, it can inspire players to participate, it also has a high share of risk: they can win ten times what they bet in one night, but it only takes a streak of bad luck to lose it all.
What are the expectations for the sports betting segment?
The last two decades, which merged with the popularization of the internet, have been quite promising for iGaming, one of the sectors that grew the fastest. For example, according to H2 Gambling Capital, in 2018, the sector was estimated at US$58 billion, and the trend is that in 2026 it will be greater than US$115 billion.
All these numbers tend to multiply due to many of these games being accessible not only from PCs but also from mobile devices. In addition, there is an investment to provide the currency according to the location, which attracts even more players.
It is undeniable that the iGaming industry is very promising and has a global reach. Of course, its combination with digital and gaming market strategies are one of the key points for its expansion, but there is a mindset behind all this success.
High risk for high success
Generally speaking, the gaming industry is not just about businesses, as there is also a market for professional gamers. Especially in the second case, there is the behavior of dealing with money in a more centered manner.
Also, because, as it is known that each game has a different result, the idea is to manage a fund so that the finances are the least of concerns, and their concentration is completely on the game strategy. The gamer knows that, even when losing, they can still play again, as they have money set aside for that.
Translating to the business aspect, it is very important that the company has a fund not only for times of crisis, but also to help in periods of expansion.
Greater sense of risk and reward
Another very common aspect of gambling is the proximity to risk. This is because both players and the casino work with very close losses, but there are also great chances of winning a lot. Therefore, there is a very clear notion that every risk can generate a reward, and vice versa.
This has nothing to do with the threat ratio. For example, long-term low-risk bets provide better returns, however, high-risk bets offer a greater amount quickly. So the final lesson is that all actions have consequences.
Importance of research
The gambling environment is very competitive, and many of the professional gamblers know that success has to do with their skills and research. These people perform studies to understand their opponents' moves and practices and, therefore, win.
For a business, this is not very different. Research and analysis are very important for strategies and decision-making. The use of data will be essential for comparing the before and after of management initiatives.
Confirmation by result
A very common behavior in games, in general, is to use the results as a form of recognition. For example, electronic games that have a high score system, in which the higher the result, the more prominent the player is during the game. This sounds simple, but it's a great incentive idea.
For the business environment, the results should be guided. They need to represent that the company is on the right path, so they deserve full attention and should always be monitored.
So far, you can follow how the iGaming industry has been successful in the market. Because it is digital, it is a sector that achieves global expansion and moves billions of dollars. But it doesn't come out of nowhere. With a focused management, research and using the result as an impetus, this industry is very successful.
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