What Exactly Is iGaming? An introduction
Do you want to learn more about iGaming but don't know where to start? We've got you covered. In this blog post, we touch upon the basics of iGaming.
What is iGaming?
The term "iGaming" refers to all types of online gambling, be it poker, sports betting, or casino games. This relatively new form of entertainment has grown massively over the past few years and shows no signs of slowing down. The advancement of new technology, the increase of games as well as the competition are driving the gaming industry’s growth. Some countries have regulated iGaming, while there are many regions where it is still restricted.
The largest iGaming hubs in the world are Malta, Gibraltar and UK. According to the last published MGA annual report for the year 2020, through the catastrophic period of the COVID-19 pandemic crises, where the total economy value added decreased by 4.3%, the gaming industry has managed to attain a significant growth equivalent to 15.3%. Based on estimation, by end of year 2020, it is believed that the gaming industry caters for almost 8,300 jobs with 91.1% of these employees engaged in the online sector.
The fame of the iGaming industry is rising as people spend a lot of time on their mobile daily, and iGaming provides players with an easy and user-friendly interface to play their favourite games anywhere. Mobile access has improved the user experience.
In the following, you will learn about the reason behind the popularity of gaming and the top games in iGaming. So, let's get started.
Why is iGaming so popular?
It's safe to say that technology has taken over a big chunk of everyday life. Our smartphones have become extensions of ourselves, and we spend most of our time in front of screens. Naturally, casinos had to evolve from land base and take the next step and go digital. Online gaming is popular because of numerous reasons, mainly due to the following:
Online gambling has low barriers to entry.
Easily accessible by phone
Innovative seamless user platforms that provide a good gaming experience
Lucrative – gamblers can win big money prizes
Adrenaline rush
Virtual socialization when playing in tournaments
A recreational way to escape from the day-to-day problems
Being a regulated sector, it's important
It's a great way to be socialized and connect to players worldwide.
Online betting companies must continue to maintain transparency and confidentiality with their players so that they may play confidently their games. Although gaming has been evolving daily for the past two decades, it does not seem there is going to be a decrease anytime soon.
Games in iGaming
There are many different types of games, depending on what you're looking Casino games such as video slots, blackjack or poker is probably the most common type of games out there. You can also find e-sports betting on many sites these days if you fancy yourself a bit more competitive with your gambling. Different types/genres of games are being developed and released to cater for everyone's taste.
Loyalty scheme for loyal customers who play frequently
Casino games have the most significant share of the online gambling market, with slots being the most sought-after table game
Sportsbook caters for different competitions, needs, and events for sports enthusiasts
Exciting high-stakes poker tournaments with big rewards
Esports involves more competitive multiplayer games and generally played by professional players, teams or individually.
Land-based and online slots are the most common among players are they are simple yet can be extremely rewarding. Video slots are more entertaining with the enhanced graphics and like-like animations. Some of the top-played games in iGaming are Starburst, Mega Moolah, Book of Dead and Gonzo’s Quest and Sunrise Reels. Sometimes you might get confused as you have plenty of choices to have fun and spend your time. You can play your favorite games anytime, embracing the level of risk, whilst getting an outstanding gaming experience. The operators and developers are introducing new games with emerging technologies, which is why you can say there are high chances of career growth in this field.
How does iGaming work?
iGaming stands for internet gambling. The basics of iGaming are pretty simple:
You deposit money
You wager your money while playing a game
You win or lose the money you bet
You withdraw or bet again
The interplay between all these elements makes up the world of online gambling. In the course of the global pandemic, it is clear that online gambling increased as people sat at home playing games. It is true that smartphones allow people to stay online 24/7 and play their favourite games however the operators also do a great job in attracting people to play with different types of rewards.
When selecting the game you would like to play, make sure to look up the return to player ratio, otherwise referred to as the RTP. You must continue to keep practicing to become a professional gamer or as online betting companies like to refer to it, a VIP. It is true, there are some games that require an element of chance while others lean towards having an element of skill to play them.
If you are interested in joining the iGaming industry, whether to find an online gaming job in Malta or to relocate to another country, we invite you to reach out to us as your recruiter and send us your CV. Let’s make sure we find out where your passion lies among the different roles there are in iGaming. Our passion lies with fulfilling your ambitions, thus it is crucial to find out where your existing skills meet your motivation to learn, whether it’s in affiliates, finance, payments, games development, customer support or sportsbook departments, among many other roles.
