Key insights from EvenBet Gaming’s 2024 Trend Report
EvenBet Gaming shares five surprising findings.
Press release.- The gaming industry is in a constant state of evolution, and EvenBet Gaming’s 2024 Trends Report highlights several significant developments shaping the future of the igaming sector. By examining the insights provided by Julia Panina, Head of Product Marketing at EvenBet, five intriguing facts from the report emerge that truly capture attention.
Focus on expansion and growth: a dynamic phase
The emphasis on expansion and growth stands out as the leading priority, accounting for a notable 53 per cent of votes when combining two types of expansion—into size and emerging markets. Both types of expansion received similar levels of support, with expansion into emerging markets capturing 28 per cent of votes, while expansion in size secured 25 per cent. These statistics indicate that the igaming industry is currently in a dynamic phase, where companies are actively seeking to claim their share of new and developing markets.
Intensified regulatory challenges: the need for standardisation
Regulatory and compliance issues have remained the biggest challenge for participants in the igaming industry for several years. However, this year, the pressure seems to have intensified, as mentioned during conferences and confirmed by 19 per cent of respondents in the report. The dispersed nature of regulations across different countries demands substantial financial, human, and time resources from operators and providers, making it difficult to focus on consumer needs. Instead of placing the customer at the centre, operators must constantly be concerned about compliance with all regulatory details.
Diminished role of social media as an information source
The Trends Report revealed an unexpected shift regarding the role of social media in information dissemination. Last year, social media confidently led with 31 per cent of respondents citing it as their primary source of information. However, this year, six channels received nearly equal attention. The top three sources of information were social media (15 per cent), conferences and events (14 per cent), and online mass media (13 per cent). Interestingly, three additional channels received exactly the same number of votes (12 per cent): in-person networking, emails, and affiliates and partners.
This suggests that emails have not lost their relevance and are still widely used today. Contrary to the belief that this channel is outdated, it remains an effective means of communication. Many well-known media personalities in the industry duplicate their social media digests through email newsletters.
To stand out in the crowded marketing landscape, companies must adopt a comprehensive communication strategy. This approach captures customers’ attention across all channels and tells a cohesive story through social media, traditional media, websites, emails, and more.
Bridging the gap: the convergence of Asia and Europe
When examining marketing channels through the lens of Europe and Asia, a distinct picture emerges. In Asia, social media reigns supreme, capturing 24 per cent of interest, compared to just 14 per cent in Europe. Additionally, Asians exhibit higher interest in events and online mass media, with 16 per cent and 15 per cent respectively, compared to Europe’s 13 per cent and 12 per cent. Importantly, this research confirms that all information channels have become more or less equal, especially in Europe. In contrast, Europe displays a more balanced distribution of attention across different channels, without any particular emphasis.
Personalisation: the new frontier in customer engagement
In today’s competitive landscape, the client experience is paramount, with personalised customer interactions taking the lead, garnering 21 per cent of the votes. This highlights the critical role that personalisation plays in fostering customer loyalty and engagement.
Following closely is the creation of games with new mechanics, which received 19 per cent of the votes. This trend underscores the necessity for businesses to continuously innovate and expand their content offerings, as the unpredictable nature of the market means that any new game could become a breakout success.
Additionally, the implementation of AI and machine learning technologies ranks third, with 18 per cent of the votes. These technologies not only enhance operational efficiency but also support the essential task of personalisation, enabling businesses to tailor their offerings to meet individual consumer preferences.
The report also reveals a significant shift in priorities for both employers and employees, emphasising the importance of a “professional and supportive team” as the top response. This focus on team dynamics over monetary compensation or brand prestige indicates that even smaller companies can attract valuable talent. Any business can foster a strong team culture and a positive internal climate, as employee motivation is deeply rooted in the environment created within the company.
In conclusion, EvenBet Gaming’s 2024 Trends Report offers valuable insights that challenge our perceptions and highlight the dynamic nature of the igaming landscape. From the quest for expansion in new markets to the evolving expectations regarding consumer engagement and the critical importance of team culture, these findings are not just data points; they are crucial indicators of where the industry is heading. As Julia Panina articulates, adapting to these trends will not only help operators thrive but also prioritise the ever-important consumer experience. The future of igaming promises to be intriguing, and those who listen closely to these insights will be well-positioned to succeed.
