What is iGaming? Definition, industry, types, technology

What is iGaming?

iGaming is any kind of online betting involving wagering a game's future outcome. Sports betting, online casinos, poker and eSports all fall under iGaming.

While iGaming and gambling are similar, they aren't the same thing. iGaming is entirely digital – games are played exclusively online via computers, mobile devices or smartphones. On the other hand, gambling can be done in person at land-based casinos or online.

iGaming also includes free-to-play games and real-money gaming that are not considered gambling. Gambling implies a game of chance, while some forms of gaming are regarded as games of skill. Because of this distinction, gambling is regulated.

The basics of iGaming are simple and consist of four steps:

1. A player deposits their money into an account on the iGaming platform.

2. They wager their money on the games of their choice.

3. They win and withdraw their cash or bet again.

4. They lose and quit or deposit their money to bet again.

iGaming industry growth

Gaming has risen in popularity over the last 30 years and continues to increase due to changing regulations and technological enhancements. Here are a few reasons why:

Accessibility of services: Online betting solutions ensure wide accessibility. Any user with an internet connection and a compatible device can play games online regardless of location and time.
Increased security: Gambling providers integrate cutting-edge technologies like blockchain and crypto wallets with their solutions, offering users various deposit and withdrawal options. They also implement security measures, including SSL certification and know-your-customer (KYC) processes, to authenticate their platforms and user identities.
User experience: iGaming companies invest in user-friendly interfaces for responsive and easy-to-navigate websites. Operators also ensure that all players are on equal terms by adding deposit limits, employing certified random number generators (RNGs), adding time-out features and more.
Socialisation: Most iGaming software solutions offer various social interaction features. Platforms strive to make the game interaction like the offline casino experience by integrating different communication tools into their systems, including video streams, messaging and live chat.
Game and feature variety: iGaming lets users choose from various games and features on one centralised platform. Users can play several games. Moreover, they can customise their profile and configure the platform features to create a convenient gaming atmosphere.

Lotteries

Online lottery apps allow players to participate in various lottery games, including instant scratch-off tickets and scheduled draw games, from their computer or mobile device. This eliminates the need to visit a physical location to purchase lottery tickets or games.

Two types of online lottery companies, digital state lotteries and third parties like Jackpot.com, facilitate the purchase of official state lottery tickets online. Digital state lotteries are traditional state-run lotteries that allow residents to purchase lottery tickets, participate in games and check results online. Conversely, third-party facilitators act as intermediaries, purchasing official lottery tickets on behalf of their users or providing a gaming service centred on lottery outcomes.

Sweepstakes

Sweepstakes-style online games enable players to participate in games of chance, such as slots, card games, and bingo, for free while still having a chance to win real money.

Sweepstakes games (also called sweepstakes casinos, social sweepstakes or sweeps casinos) operate on a ‘freemium’ model, meaning games can be played for free or via in-game purchases.

Sweepstakes games operate with two in-game currencies:

Game coins (GC): Virtual tokens that are freely available or purchasable. They function as play money to access games and enjoy in-game features.
Sweep coins (SC): These are earned through gameplay or promotions and are sweepstake entries for prizes and options offering real-world rewards, such as cash, gift cards or merchandise.

Essentially, users play with game coins and earn prizes with Sweep coins.

This sweepstakes model enables legal gaming in regions with restricted traditional online gambling.

Live dealer studios

Live dealer studios bridge the gap between real-life and online casino experiences. They are physical gaming studios (typically located within traditional brick-and-mortar casinos) from which casino games are broadcast live to online gamers.

These live-streamed games provide authentic and immersive experiences from full-size gaming tables, where online players can interact one-on-one with real dealers and bet on real games in real-time.

eSports

eSports involves video game players competing against one another (individually or as teams) in tournaments. The prizes at stake depend on the scale of the tournaments. Professional gamers typically compete for large prize pools (often hundreds of thousands of dollars, if not more). But there are also many amateur tournaments with more modest prize draws.

Tournaments attract large audiences – both in person and online. Betting on the outcome of these tournaments has become a popular activity and big business for bookmakers.

Sportsbooks

Online sportsbooks accept online wagering on sporting events. To participate, players risk their money on the outcome of a sporting event (or any aspect of the event, such as player props, total points, etc.) and try to win.

Sports betting has existed since the 18th century. Today, legal online sportsbooks offer players the freedom and flexibility to deposit funds, make pre-planned or live picks, cash out early and enhance their sports viewing experience.

iGaming regulations

The legality of iGaming depends entirely on the jurisdiction. Various forms of iGaming are legal in parts of the United States, Canada, the UK and numerous other countries.

Generally, iGaming companies are regulatory bodies or privately owned operators that deal with online wagering. Examples of regulatory bodies include iGaming Ontario, while privately owned operators would refer to sites like DraftKings or FanDuel.

Even though iGaming is defined as any kind of online betting, that doesn’t mean every country allows the same legal betting options in all regions. The launch of iGaming casinos, as opposed to mobile sports betting, is staggered in some places and simultaneous in others.

iGaming is currently legal in some form or another in these countries:

Australia
Canada
Belgium
Brazil
Denmark
France
Germany
Ireland
Italy
Mexico
Netherlands
New Zealand
Spain
Sweden
Switzerland
United States
United Kingdom

iGaming technology

As technology advances, the iGaming industry innovates, introducing new game mechanics, immersive graphics and enhanced security measures. Some recent advancements include:

Blockchain: Blockchain offers multiple advantages, such as maximum anonymity and swift deposits and withdrawals.
Streaming and social media: Streaming services allow users to watch their favourite streamer wager in real-time and live stream the game's highlights with them, attracting more traffic and engagement.
Gamification: Gamification offers additional engagement and loyalty opportunities through character selection, quests, level rewards, etc.
AR and VR: Integrating AR and VR technology into iGaming enables providers to recreate the conditions and atmosphere of the offline casino, enhancing the user experience.

iGaming solutions are reshaping how people interact with gaming and betting, blending entertainment with cutting-edge technology. The industry continues to expand and diversify as more players turn to betting technologies for an immersive gaming experience.

iGaming

What is iGaming?

iGaming industry growth