Is the Online Casino Industry Still a Viable Option for Businesspeople to Break Into?

  • 2023-08-15

When you look at the behemoth online casino industry, it’s easy to think that businesses that aren’t involved yet have missed an opportunity. After all, the sector is worth more than $70 billion already in 2023. However, this would be the wrong way of looking at the market. There’s still a vast amount of potential for growth, which is why forecasts predict that the industry will be worth $153.57 billion by 2030. 

Businesspeople who are hoping to get a piece of the ever-expanding pie have a range of options. One tactic could be to invest in preparing slots for the next stage of their evolution in virtual reality. 

Slots Market is Best for Business

The online casino industry is booming, and there are various categories to choose from. However, slots are easily the biggest attraction for players, and this is highlighted by the sheer wealth of options available. For example, there are hundreds of online slots at Paddy Power. These fall into different genres, designed to appeal to diverse personalities. There’s Musketeers Heroic Spins for people who enjoy the classic story, or Clover Rollover 2 for those who love Irish themes. There are others based on ancient Greece, Egypt, classic game shows… you name it. 

A recent trend that has emerged in the slots market has seen developers experiment with new mechanisms for the games. For instance, there’s the Megaways engine that allows for more than 100,000 win lines. This concept was so well-loved that Big Time Gaming franchised it to other developers. Now, there are countless Megaways games on offer, and it has led to the emergence of other new ideas like Drops & Wins. These offerings highlight how the slots market is still evolving, and there’s a lot of potential for innovative businesses to find success. 

Slots Will Need to Adapt for VR

Any businesspeople that have an interest in capitalizing on the slots market could invest in the next stage of the games’ evolution. VR is expected to be the next major tech platform, with an estimate from GlobalData projecting it to be worth $51 billion by 2030. When this technology becomes a mainstream household item, you can guarantee that the online casino industry will be all over it. Indeed, iGaming could even play a significant role in helping VR hit the highs that people think it will reach. 

Slots have always innovated with new tech advancements, with the greatest progression being their transition to the online world. VR is expected to be as massive for society as the internet was, and some people expect us to be spending most of our time in metaverses. According to an article from Pew Research Centre, experts believe these VR worlds will be fully immersive by 2040. Perhaps the next stage for slots could be to exist within the metaverse or feature their own metaverse-like fantasy worlds. 

For businesspeople looking to get into an ever-growing industry, online casino is an excellent option. There’s a lot of money to be made by people who can think of great innovations in the slots market.