In the year ahead, technology and innovation will play a crucial role in shaping the industry. In part six of our series, we talk to experts in this field who share their thoughts on the opportunities and challenges that lie ahead.
The Covid-19 pandemic has undoubtedly had a significant impact on the industry, but it is worth considering other transformational factors from last year. Experts believe that the industry experienced a split in regulation trends, with some markets expanding (such as North America) and others pulling back (like Sweden). There was also a notable increase in merger and acquisition activity, with notable companies like Stars/Flutter and Entain emerging as major players in the online gaming industry. This consolidation is reshaping the market landscape.
As we look forward, experts predict that the industry will witness a game-changing transformation in land-based operations once casinos reopen. Cashless transactions will become the norm, and casinos will reevaluate their slot machine offerings for maximum efficiency.
Content will continue to be a critical factor for operators, with demand for a wide range of markets and propositions. Customer-centric strategies and improved user-friendliness will be vital in meeting this demand. Advancements in AI technology will also be a major discussion point, particularly in areas such as automation, game data analysis, and player protection.
While the industry is on the path of progress, disruptions and challenges may arise. Regulatory scrutiny is increasing in some markets, requiring operators to prioritize responsible gaming practices. The rapidly changing legislative landscape in key markets like Germany, the Netherlands, Greece, as well as the evolving US sports betting market, pose additional challenges for innovation and product development. Cybersecurity threats, particularly DDoS attacks, and the overall economic conditions resulting from the pandemic could also hinder industry progress.
In terms of future investment, experts believe that technology enhancement will be a priority in 2021. With an increasing shift towards online platforms and a desire to differentiate, companies will focus on owning their customer experience through product and technology advancements. The industry will also continue to place a strong emphasis on user journeys, improving customer retention, and providing entertaining experiences that keep players coming back.
Overall, the coming year holds great potential for technological advancements, innovative solutions, and the reshaping of the industry. As the world continues to adapt to new challenges, technology and innovation will undoubtedly remain at the forefront of the industry’s evolution.
