After a hard day’s work and a few successful bets on 22Bet, take some time to catch up on what’s new in the world of betting in 2024. This year, the sports betting and gambling industry demonstrated significant growth and introduced several innovations aimed at enhancing the player experience. Let’s explore the key changes and developments introduced over the past year.
Growing Popularity of Mobile Apps
The use of mobile devices for betting has become a dominant trend. From January to October 2023, 70% of all gaming sessions took place on mobile devices, and this trend gained momentum in 2024. According to analytics firm AppsFlyer, downloads of online casino apps increased by 102%, while online betting app downloads grew by 97% compared to the previous year.
New Bonuses and Loyalty Programs
Betting companies are actively attracting new customers and retaining existing ones through a variety of bonuses and promotions. Here are some of the top offers available in 2024:
- Free Bets (Free Bets): Awarded to new and active players for registration, account top-ups, or participation in promotions. The size of the free bet can be substantial, depending on the specific campaign.
- Loyalty Programs: Players can accumulate points for their bets, which can later be redeemed for bonuses, free bets, or valuable prizes. Some bookmakers offer up to 20% cashback for VIP clients, as well as daily free bets and activity-based bonuses.
- Bet Insurance: This allows players to recover their bet amount in case of an unsuccessful outcome, reducing risks when placing bets. These promotions often apply to parlays or specific sports.
- Cashback: A portion of lost funds is returned to encourage further player activity. The cashback amount and conditions vary depending on the bookmaker’s policy.
- Promotions and Drawings: Regular contests offer chances to win large cash prizes, free bets, or physical rewards. Participation usually requires meeting certain conditions, such as placing bets on specific events.
These offers are designed to make betting more engaging and create more attractive conditions for users.
Variety of Payment Methods
In 2024, bookmakers expanded the range of available payment methods, including cryptocurrencies and local payment systems, improving the convenience and security of transactions for users. According to Optimove, 58% of players prefer reliable payment methods to increase their loyalty.
Strengthening Responsible Gambling Measures
New legislative acts introduced in 2024 require companies to monitor signs of gambling addiction among players and promote safe gaming practices. For example, Malta’s laws now mandate gambling companies to identify signs of addiction and advocate for “safe gaming,” emphasizing moderation.
Growth of the Market and Industry Revenue
The global online gambling market was valued at $107.3 billion in 2024, while the combined market for land-based and online casinos reached $305.8 billion. Revenue in the iGaming industry grew by 14.1% compared to the previous year, reaching $97.27 billion.
Innovative Betting Markets
Operators have started offering bets on non-traditional events, such as drone races and pumpkin regattas, to attract new audiences and diversify the experience for regular clients.
Prospects for 2025
In 2025, competition for bettors is expected to intensify, with banking activity supported by the overall economic situation and key interest rate dynamics. The global online sports betting market is projected to reach $83.58 billion by 2029, with a compound annual growth rate of 11.65% from 2024 to 2029.
Overall, 2024 was a year of significant changes and growth in the betting industry, with a focus on technological innovations, improving user experience, and strengthening player protection measures.