Between 2023 and 2024, the iGaming industry generated a yield of £4.4 billion.¹ Through continued innovation and enhanced customer understanding, the industry has been able to show consistent development, with an average yearly growth rate of 11.7% between 2023 and 2030.² During challenges, such as COVID-19 and changing industry regulations, the industry has quickly adapted to continue flourishing. Many lessons can be taken from how the iGaming industry has developed to continue its growth. This article examines how iGaming is successful and what lessons can be taken from this.
What is the iGaming Industry?
The iGaming industry refers to any form of online gambling or betting. This includes a wide variety of activities, from casino games to betting on real events like horse racing. iGaming is convenient for many players as it can be done through mobile devices, allowing them to play from anywhere at any time.
The Success of iGaming
Online gambling continues to be one of the most popular hobbies in the UK. From the introduction of the first online gambling platform, the Liechtenstein International Lottery in 1994, the industry has grown at an incredible rate. During COVID-19, many players shifted to using online providers, and this number has continued to grow. The most recent UK Gambling Commission report found that 19.6 million adults gambled online in 2023. This number has continued to increase year-on-year, while the number of land-based gambling operators has decreased. As well as having a widespread customer base, the iGaming industry is incredibly financially successful. A yield of £4.4 billion from 2023 to 2024 represents a staggering 11% growth from the previous year. The industry continues to gain investment and innovate across technology and games. But what lessons can be taken from this sustained success?
Key Lessons
Many lessons can be taken from the consistent success of the iGaming industry, including understanding changing customer needs and introducing innovative technology. The following are some of the most important lessons that the iGaming industry can provide for other businesses.
Understanding the Customer
During times of economic difficulties, the iGaming industry has quickly adapted to player demand. In January 2025, the Bank of England reported inflation was at 3%, meaning the price of goods and services had increased by this amount.³ Throughout times of high inflation levels, players have found themselves with reduced disposable income, resulting in lower or less frequent stakes. Due to this shift in behaviour, there has been an increase in player numbers of low-stakes games, like online slots. Between February and March 2021, there was a 15% increase in slot games’ yield, and in 2024, slot games had almost double the number of players of all other forms of online gambling combined. The industry recognised this shift in customer habits and, as a result, implemented new developments.
In response to these shifting habits, the range of slot offerings increased. Slot offerings range from classic slots that have the nostalgic feel of in-person machines to cutting-edge virtual reality slots that use VR to create an immersive experience. Slots offer something for every player, including those looking to stake lower amounts. These players can utilise features such as free slots or the low-wagering bonuses that many slot games offer.
In order to better understand their users, iGaming affiliates have introduced AI to track customer habits. AI tools analyse a player’s data in order to recommend the games that best suit their preferences. In the future, it could also be used to change the marketing materials that users see. Although AI hasn’t been fully implemented yet, it is used to help enhance the industry’s understanding of the customer.
Developing New Games
One of the ways that the iGaming industry continues to appeal to a wide range of players is through the development of new games. Slots appeal to those who want to wager lower amounts, but one of the most innovative developments in the market is live gaming. Live games appeal to those who want to encapsulate the same feel of land-based casinos from anywhere in the world. Providers, such as Pragmatic Play, use innovative video and audio technologies to allow players to interact with dealers and even other players.⁴ By developing up to eight games a month, Pragmatic Play can efficiently adjust to the changing needs of players. New games are being developed across online gambling providers to suit the needs of every customer.
Another game development has been the introduction of progressive jackpot slots. In 2015, a player from Cardiff won over £13 million on a progressive jackpot slot, the biggest online slot win ever.⁵ Progressive jackpot slots allow for bigger prizes by growing with each bet. They can grow cumulatively across networks, such as all players of a specific game or all players within a specific location. New forms of jackpots and games keep players interested in the iGaming industry.
Innovative Technology
The iGaming industry has always been at the forefront of developing technology. In 1995, the introduction of Secure Sockets Layer (SSL) allowed for better protection online by encrypting data transferred on the web.⁶ The encryption of data prevented transactions in iGaming, such as card details, from being intercepted. In more recent years, the development in audio and video technology has allowed for improved live games.
Another innovation within the iGaming industry has been the introduction of virtual reality. VR has allowed for the development of immersive casino games, such as VR blackjack and poker.⁶ In the virtual world, players have a customisable avatar who can interact with elements like chips, cards, and other players, allowing for a similar experience to what land-based casinos offer.
The introduction of cryptocurrency in the iGaming industry has also ensured it stays a frontrunner in technological developments. Many casinos have begun offering crypto as a payment method, and some have even begun specialising in it. This virtual currency has several benefits within the iGaming sector, including faster transactions with lower fees. According to the top 60 crypto gambling sites, 337 bets are placed per second using cryptocurrency. In the future, it seems likely that crypto will be widely offered as a currency within the iGaming industry. By introducing innovative technology like VR and cryptocurrency, the industry ensures it stays progressive and appeals to new players.
Collaboration With Regulators
One of the main challenges the iGaming industry faces is a constantly changing set of regulations. In order to keep players safe in the industry, regulators frequently introduce new rules on safer gambling and marketing restrictions. The industry works with regulators through their representative body, the Betting and Gaming Council. The BGC looks at the best way to introduce new regulations throughout the industry.
One of the biggest focuses of regulators has been on responsible gambling. The 2005 Gambling Act introduced safer gambling features, like limits on time and spending. Those within the industry have been quick to adapt and take on responsibility themselves. Through iGaming sites, players can find resources for safer gambling, including expert information, helplines, and ways to block gambling sites. Providers have also been quick to introduce strict profile verification services to prevent underage users from accessing games.
There are yearly updates to the regulations surrounding the gambling industry, including in advertising. Upcoming regulations will prevent providers from advertising through recognised sportspeople, like footballers, as these ads disproportionately appeal to children. Although the iGaming industry faces challenges in terms of tight rules, by working with regulators to find the best ways to implement them, it can quickly adapt.
What are the Key Lessons from the iGaming Industry’s Success?
The central elements that allow for the iGaming industry’s success are an enhanced understanding of the customer and continued innovation. Throughout challenges, the industry still shows strong growth. This is because of how efficiently it shifts to reflect changes in player behaviour through new games and more accessible bonuses. It also adapts efficiently to new rules by cooperating with regulators to implement them. As well as understanding customer needs, the iGaming industry continues to be one of the first to introduce technological advancements. From cryptocurrency to VR, the industry continues to lead the way in technological innovation. Overall, the most important lesson that can be learnt from the iGaming industry is the importance of adaptability in driving success.
What is Inflation?, Written by the Bank of England, Published by the Bank of England.
5- What is SSL (Secure Sockets Layer)?, Written by Cloudflare, published by Cloudflare.