The Asian online casino gaming industry and developing areas like South America receive a lot of attention, but what about the European market? While the Isle of Man and Malta are well-known for their licenses, what about players?
In response to the closing of many traditional land-based casinos due to COVID-19, some European operators migrated online. The market for online gaming in Europe is anticipated to grow at a CAGR of more than 9% over the next five years.
Since the European market differs from other markets, the following are the most significant trends among its players:
Online Casino Games
With a market share of 34%, online casino games come second in popularity to video games. We’re talking about blackjack, craps, roulette, baccarat, and slots—games you can find at top online gambling sites Europe. These games are popular thanks to their simplicity, engaging gameplay and high returns.
The use of technology like live dealer streaming and improved graphics has further strengthened this industry. The ability for players to engage in virtual experiences through the fusion of virtual reality (VR) and augmented reality (AR) is another way that we anticipate the metaverse will have an impact on the industry.
By far, sports betting is the most common form of gambling in Europe. It made up 40% of the industry by the year 2020. This includes American sports like football and basketball, horse racing, soccer, and even eSports. In the past three to four years, eSports have gained popularity as a substitute for traditional sports, giving gamblers more choices.
For instance, eSports filled the void left by sporting events being canceled or delayed as a result of regulations during the COVID-19 epidemic. Esports have remained well-liked among gamblers even after the pandemic has partially abated. Considering that the FIFA World Cup will be held in Qatar in the fall and winter of this year, sports betting is expected to grow much more this year.
Lottery and Bingo
With only 17% of the market share, online lottery in the European online gambling market is not quite as popular as it is abroad. However, lotto and scratchers continue to be very well-liked in the offline gambling industry, which could account for the disparity.
Despite this, it ought to still be a part of the portfolio of any online gambling provider because it provides consistent revenue and client loyalty with little in the way of further expenditure.
However, bingo only makes up about 3% of the market in Europe, considerably behind the lottery. Once more, this might be a result of its offline attraction, especially among older players who don’t engage in much internet gaming. It nevertheless deserves inclusion on any online gambling platform, much like lotto.
For Asian online gamblers, poker is a huge draw, but in the European industry, it’s a different situation. It only makes up about 5% of the regional European online gambling market. This is partially because playing it requires skill compared to other games, which rely more on luck or chance.
Asian players are content to study and develop their skill sets, in contrast to European players who desire to log on and play or bet without having to go through a learning curve. Despite this, the industry is expanding steadily, and liver poker and other live dealer games will only help this trend.
Poker may be a little more specialized in Europe, but the players there are devoted, and if they find an online gaming platform they enjoy, they will stick around to play and wager on other games. Most online gaming operators are making an investment in poker, especially in video and live dealer poker.
Critical Factors for the Growth of Online Gambling in Europe
Enhanced Internet Connectivity and Streaming Technology
The rise in the popularity of online gambling in Europe is being fueled by better internet services and streaming technology, which enable operators to stream live online gambling events from all over the world so that customers may wager on them. The market is expanding as a result of consumers’ increased access to the internet, a vast selection of online games, and gambling portals.
Customers have had reservations about the security of online gambling platforms ever since the first online casinos initially appeared on the internet. Online casinos share many of the same security vulnerabilities as physical casinos.
Technology has aided in the evolution of the gambling sector and made it almost impossible for hackers to break into casino platforms using sophisticated and complex technologies.
Multiple Payment Options
To meet the demands of all players, European gambling companies typically provide a range of payment methods. Credit and debit cards, digital wallets, bank transfers, and cryptocurrency are some of them. Every player has a preferred payment method, and they search for it in the list of choices each time they sign in to an online casino.
Additionally, no casino wants to turn away potential customers just because they don’t accept their chosen method of payment. MasterCard, Visa, and PayPal are among the payment methods that European online casino players utilize the most frequently.
Transaction processes are made more accessible for European online gamers by the variety of options. All monetary transactions are carried out with the highest level of security possible because of data encryption technology.
Great Bonuses and Offers
The abundance of bonuses and promotions offered by European online casinos is another factor aiding their popularity. While rewards might take many different forms, they all have the same function. These bonuses offered by online casinos draw in new customers while keeping existing ones excited.
Welcome bonuses are typically far more enticing and generous. Almost often, new players are welcomed with sizable sign-up and initial deposit incentives. However, before you can cash out some of these bonuses, you have to meet specific wagering requirements.
An online casino that values its regular clients will reward them with daily reload bonuses, exclusive benefits, weekly cashback, and adaptable loyalty and VIP programs. The majority of online casino bonuses in Europe are welcome, and no deposit bonuses.