The Economic Impact and Financial Future of Online Gambling Platforms in 2024

Written by:
Gilbert Horowitz
Published on:
Jan/31/2024

There's never been a better time to be part of the explosive online gambling market then now.  We can say this as Gambling911 enters its 25 years online.  At the same time, one has to stay a step ahead of the competition, as well as any regulatory activities and technological advances.

2023 was the Year of AI, 2024 the Year We Crack Down on it

Artificial Intelligence could be the best thing since the wheel.  But you know how that goes.  The intentions are great but not everything works out the way it was originally envisioned.

Here in Miami Beach we have those damn Slingshots, a three-wheeled vehicle whose sole purpose seems to be to annoy residents.  The city actually banned these eyesores from entering during "high impact" weekends. Oh, and we can blame the wheel for all this ridiculous rush hour traffic. 

The reality is that the wheel and its primary benefit - to drive Yours Truly around and get me from Point A to Point B - is still an amazing invention.  Now if only we could teach people how to drive!!!

Ask any medical professional and they'll be quick to list all the great things Artificial Intelligence can accomplish. 

By 2025, those deemed the best online casinos (sites having the ability to adapt) will likely be employing AI as well. Some of our bookie buddies still think AI stands for Alcohol Intake, so perhaps 2026 for them.

Right now you can find AI usage primarily in the form of those maddening chat sessions.  But soon they'll be used for tracking individual customer behavior.  As we've pointed out, there will be abuses for sure.  But this type of tracking can be used as a means of reducing daily limits for high risk customers.  AI technology and algorithms can also help to enhance the user experience by monitoring the times in which they tend to play games as well as their preferred amenities.

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Upcoming Industry Conferences Provide a Glimpse of the State of the Industry

iGB Affiliate London is set to kick off in the coming days as this was going to press. This and similar conferences provide a peek at what the hot button topics will be over the coming 12 months.

Let's take a look now.

  • Affiliate marketers will need to maneuver through a mind field of regulatory clampdowns on advertising as well as search engine platforms eradicating third party cookies for referring traffic.
  • How are tracking challenges impacting the advertiser-publisher relationship.
  • And, of course, AI, AI and more AI.

But, yes, 2024 will be the year the interwebs big players finally start taking privacy concerns seriously and this means operators and affiliates alike must be able to overcome the likely hardships.

Ultimately this impacts the end consumers (the players themselves). 

Imagine a world where gamblers believe the only existing online gambling company is Hard Rock Bet.  That's pretty much the only gambling brand we're exposed to here in Florida courtesy of a state compact and the resulting mobile gambling monopoly despite there being other casino companies that operate from the Sunshine State.

That's not to say the Seminoles are bad at what they do.  They're actually exceptional at it.  But competition is a good thing.  Limiting marketing channels and restricting certain forms of advertising hasn't played particularly well in the UK despite otherwise good intentions.

Fining a company for presenting a little person who suddenly attracts 6'1 super models through his gambling prowess comes across as a bit over the top.  Some call it an early form of "cancel culture".

New York State appears to be on a pathway to cracking down on advertising similar to that which has already taken place in the UK.

Let's keep the fun in gambling.  More streakers with a gambling logo tattooed on their back running across the field during major sporting events please.

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Increased Access (Maybe)

As of last year, approximately 92 percent of individuals in the United States accessed the internet, up from nearly 75 percent in 2012. The United States is one of the biggest online markets worldwide and in 2022 with around 299 million internet users.  This doesn't necessarily mean folks have the ability to play on a live dealer online casino. The coverage for 5G internet was around 64%.  Like with most things (think iPhone 3), forward thinking companies have little interest in keeping their customers in the dark ages.  Over the next year or so, those with anything less than 5G might not be able to access their favorite online casinos or poker rooms.

In the world's most populous country, China, just 72 percent of the population has internet access.  More shockingly, the country with the world's second largest population, India, only has 49 percent of its population connected.

Another of the hot button topics on upcoming gaming industry conference agendas pertains to growth of web casinos and sports betting in Africa.

In 2022, the average living wage for someone living in one of the continent's most advanced nations, Ghana, was just $241 per month.  Unless you happen to be living in and working as an operator or affiliate in Ghana, the gambling consumers here might not be among the more appealing when compared to the US where it's not unusual to see someone betting thousands of dollars in a given week.

For Gambling911.com, Kenya is our top referring African nation.  It's internet penetration rate was just 32.7 percent last year.  Certainly the growth potential is there.  We just don't see it having much of an impact in 2024.

It's intriguing to note that Kenya reportedly had a £235m-a-month gambling addiction back in 2020, so there is money to be bet here.  The problem, of course, is that the government took notice.  You can guess what happened next.

- B.E. Delmer, Gambling911.com

Gambling News

60 Minutes Dives Into MGM, Caesars Ransom Attack of Last Year

A surprisingly young cohort of hackers paralyzed some of Las Vegas’ biggest hotels and casinos last fall, demanding an exorbitant ransom. The FBI and cybersecurity researchers call them “Scattered Spider." Bill Whitaker reported on the story for 60 Minutes Sunday.

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