BetB2B: Trends in the development of betting companies in 2024 perspectives

The iGaming sector, including bookmakers and online casinos, is on a rapid growth trajectory. Every year the industry shows progress in the form of an increase in the number of new iGaming companies, as well as the number of new players.

BetB2B experts claim that the iGaming industry has gone through many changes in recent years. Thus, “Covid” times stimulated the industry to strengthen its position online. If technology is developing so rapidly in the field of betting, it is logical that there is a demand for it. The public is very large, so all requests must be satisfied. Software providers are expanding functionality and features, thus providing operators with new options to engage players.

General trends in the development of the betting industry

Industry dynamics suggest a broad impact, reaching beyond bookmakers to influence marketing, web design, and technological innovation.

BetB2B analysts with a link provided by New York Tech predict the growth of the iGaming industry, which by 2030 will be valued at $153.5 billion.

A key component in the market structure is sports betting. By 2027, a significant increase in the betting market is expected; the figure is predicted to be close to $63.6 billion. The growth in the number of players on betting resources is similar. Yes, BetB2B experts referring to The Pew Research Center claim that by 2027 the volume will increase to 174.5 million people.

What is driving demand for bookmaker services?

The availability of the Internet and progress in the development of mobile technologies contribute to the development and expansion of the sports betting industry. The dominant role is played by bets from mobile devices. This number includes not only forecasts for sporting events, but also casinos, lotteries, and other gambling entertainment.

Mobile iGaming significantly dominates over offline casinos. From January to October of the past year, 70% of the total volume of iGaming sessions were conducted from mobile devices. It is reported that in 2022, mobile betting accounted for a 52% share of the global iGaming market, and by 2027, this niche is projected to occupy 54% of the market.

Mobile internet coverage is higher and more people are getting online through their phones. And this indicates that the sphere of betting on mobile devices, as a separate segment of the market, will undoubtedly grow. This, in turn, will lead to the emergence of new opportunities for bettors and developers, which will provide an improved gaming experience, BetB2B experts predict.

Understanding the Bettor’s Profile

In the big and diverse world of online betting, today's bettors have lots of choices with many betting websites available to them. This wide range of options means that bookmaker companies have to work harder, always be ready to change, and keep up with new trends to meet the detailed likes and dislikes of their experienced audience, as a BetB2B specialist pointed out.

So, it’s time to figure out who is interested in sports betting and get to know the betting audience of the bookmaker company in more detail.

Indicator statistics:

● Most activity on iGaming sites can be seen in young people under 35 years of age.

● However, the majority of this percentage are male players - 24% and 15% - female.

● There are differences not only in gender but also in ethnicity. For example, according to US betting market statistics, the largest number of players are black (27%), followed by Hispanics (24%). Interestingly, whites and Asians make up the same number at 18%.

● Of the respondents surveyed, 15% reported that they placed bets in the last year.

Recently, there has been a trend of increasing interest among the older generation in sports betting, notes BetB2B. The rate has increased noticeably among players over 55 years of age. If earlier the number was only 13%, now it is 20%. Of these, 40% of players have a family income of more than 100 thousand dollars.

Society often views sports betting with some skepticism, yet interest in it is growing. Nowadays, iGaming isn't seen as negatively as before. Most betting companies are now legal, have the right licenses, and even official offices. Because of these changes, more older people with good education and high incomes are starting to bet.

Global trends in numbers indicate the following:

● The majority of adults (57%) (residents of the United States of America who participated in the surveys) believe that there is nothing wrong with legalizing sports betting.

● A minority (34%) think this is a bad decision.

● A small portion (8%) believe that allowing betting is an entirely positive trend.

Knowing the influence of the United States on the “mood” in the world, it is easy to predict that online sports betting will only gain popularity over time. This is why the sports betting business has become so tempting.

In the UK, 6% of people aged 25-34 to 45-54 participate in iGaming, including placing bets on sports at least once every three months, and another 4% of players aged 18 to 24 years.

Spain has published an analysis of the profile of online players from the Ministry of Consumer Affairs. There were 1.6 million active players (3.2% of the total population). Of the total number of online players, 83.25% were male and 16.75% were female. 80% chose sports betting, 20% - casino, poker, and bingo.

The average online player is a man between 18 and 35 years old. Men spent €626 per year and women spent €320 per year. The highest costs of €845 per year are for players aged 36 to 45 years.

Such statistics make the betting and gambling market attractive to investors. But what difficulties are involved in opening and legalizing such a company?

BetB2B: How to choose a platform to open a betting site in 2024?

“If someone now decides to launch their bookmaker, they know about the predicted trend,” says the BetB2B expert. The fact is that every day sports betting is becoming more popular and profitable. Plus, there are great deals for startup businesses.

When starting your project, you need to pay attention to the following points:

● License - for serious firms this is an important nuance, without which it is difficult to become a leading player in the market. To obtain permission, you must contact the Gambling Commission or other regulatory body. Jurisdiction may be national or international. When choosing a jurisdiction, you will also have to pay attention to the cost of obtaining a license, the amount of the annual fee, and the validity period of the license.

● Platform - if it doesn’t exist, you will have to spend considerable resources on creating it. Or purchase a ready-made solution. Ready-made solutions - Turnkey solution is a simple and profitable way to start a very profitable business. This is a great package deal for betting site operators that already includes payment infrastructure, a Sportsbook, and access to all features.

Solutions from BetB2B:

1. Turnkey solution is a comprehensive set that consists of content for betting, gambling, and Esports. All this is on one platform for ease of use and management.
2. Sportsbook API - integration of betting on over 182 sports. This allows players to quickly and conveniently access the content they want and place bets in real-time.
3. Retail Solution BetB2B is a solution for betshops. A convenient way to manage your business in real-time.

Separately, it is worth noting the flexible CRM system, which will help evaluate the effectiveness of advertising campaigns and promotions. Here information about the preferences of players will be stored, bonuses will be issued for performing actions provided for within the framework of promotions and advertising campaigns.

The owner will be able to view the following statistics:

● player information;

● information about rates;

● game data.

The CRM system is designed to manage website elements, change their location, and manage content, banners, and other functions to customize the site to suit your goals and needs.

How BetB2B works

Goal: Providing access to an effective platform for accessing all systems and resources for the betting/gambling site.

Approach: BetB2B's policy is to provide only quality services to the iGaming market. This means that the customer will work with an efficient ready-made platform, which minimizes the possible number of errors.

Reputation: BetB2B provides services to a wide range of clients, which once again confirms the high level of trust and demand for a significant range of content, the collection of which is regarded as one of the largest on the market.

Availability: To become a BetB2B client, you only need to create an application on the website, after which a specialist will contact the potential client and advise on further actions.

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