Gambling has existed in some form or another throughout human history. Even Harvard and Yale Universities were funded with the proceeds of lottery money. In the 17th Century, the first casinos were established in Italy and since then casinos have opened up in countries all over the world. The evolution of this industry is inextricably linked with technological advancements as today, the highest gambling revenues are generated not in the famous Vegas casinos but online.
What is iGaming?
iGaming is the term used to describe the online gambling industry, it includes online casinos, online poker sites, online slots sites, and sports betting sites. The first-ever online casino was established in 1996 by InterCasino and since then the iGaming industry has grown at an accelerated pace. The American Gaming Association estimated that, in 2018, there were already 2,800 casino sites active online, a number expected to continue to grow exponentially. It is one of the fastest-growing industries in the world, currently worth 59 billion dollars and this figure is expected to almost double by 2024.
What is an iGaming platform?
Behind every successful iGaming site there is sophisticated software. Expert developers design the games which feature on sites and platform providers program the online interfaces. These interfaces, a.k.a platforms, are the framework that allows gaming operators to deliver their services to players online.
The day-to-day running of the site is fully managed, customized and optimized with tools for every aspect of the business from customer service tools, payment processing solutions and gaming content itself. They enable operators to provide a first-class gaming experience as they help to continually update a site with new, fully optimized content. The only thing an operator needs to do is decide on a brand name and the aesthetics of the site.
The day-to-day smooth running and long-term business growth of an online casino is made possible through the implementation of various technical features such as PSPs and affiliate systems.
Payment service providers are third party providers which enable a merchant such as an online gaming platform to accept payments through credit and debit card, bank transfer and real-time transfer. iGaming platform developers are experts in providing seamless and varied PSP integrations. They enable operators to select the right payment process to suit their business strategies. It is the most crucial element of an online site.
An affiliate system is a sophisticated marketing system that is programmed into an iGaming platform. It is a reward-based system that pays affiliates a commission to direct new customers to a site through banner ads and reviews with text-based links. Affiliate systems are the most effective tool for online casino sites to extend their reach in the market and acquire increasing numbers of new clients.
iGaming platforms are the future
Online gaming platforms are the future of the iGaming industry. However, each platform provider supplies a slightly different package. For example, Evolution have just announced a brand new game that combines live and slots-style gameplay; but this game will not be found on every casino site, just on sites that have been set up by certain providers.
It’s up to individual iGaming operators to research and decide which platform providers to use but one thing is for certain: to remain competitive in the growing gaming market they definitely need to be using one.