The industry that never stands still: GR8 Tech predicts the trends of 2024

As technology has evolved, so too has the need for igaming platforms to provide operators with increasingly impressive experiences for players. It’s no longer acceptable to provide a standard out-of-the-box solution; instead, the need for a personalised and customisable platform that delivers a VIP player experience tops the list.

Happily for GR8 Tech, it spotted this requirement far in advance of the company’s launch. Following a successful first year, the platform provider is looking to identify 2024’s key trends ahead of time once again to ensure it not only matches this year’s successes but surpasses them.

Evgen Belousov, chief executive officer, and Artur Ashyrov, chief technology officer, believe that the hot topics for 2024 will include emerging technologies, mobile-first entertainment, enhancements of AI and virtual reality (VR).

Emerging technologies in igaming

For platform providers, there has been a significant shift in distribution channels, creating a space for operators to provide experiences that can compete with other mainstream entertainment providers. This has narrowed the gap between what is considered igaming and entertainment, but it is something that players are reacting well to. 

Ashyrov believes that distribution will go further in 2024. “I think igaming products will be increasingly distributed through more mainstream channels such as TV and streaming services,” he says. “A prime example of it happening already is ESPN Bet, which blurred the lines between media broadcasting and betting.

“The process will gain more traction over the next few years, blending igaming with other entertainment niches.”

Mobile-first entertainment 

“GR8 Tech, having the most impressive mobile version of its platform, will push the importance of the topic, as we have a lot to offer operators in this regard.”

As the industry moves towards a more entertainment-led path, the need for a mobile-first approach has taken centre stage. This has been compounded by the Covid-19 pandemic shifting players towards online gaming via their smartphones and tablets.

It is increasingly important for operators to invest in responsive design technology. Creating dedicated mobile applications ensures players can enjoy their favourite games seamlessly on their mobile devices. 

But that doesn’t mean every platform provider has hit the nail on the head. For Belousov many have missed the mark. “You’d be surprised at how often mobile-first gets overlooked and underdeveloped,” he notes. 

Recognising this shift in user behaviour, GR8 Tech has prioritised the development of mobile-friendly experiences. Belousov explains: “As more and more people from younger generations join the igaming audience, mobile will grow in popularity. That makes adapting the sportsbook and casino platforms for mobile increasingly important.”

Ashyrov echoes this: “The pace at which mobile devices are continually developing and improving their hardware performance opens up new opportunities for the kind of content we can include in mobile platforms and may drastically change the bigger picture.”

Advancements in AI

Grand View Research estimated that the global AI market was valued at $62.35bn in 2020, and predicted that this would rise to more than $930bn by 2028. With the igaming industry already seeing the impact of AI on the likes of live casino and sports betting, the reason for it featuring on GR8 Tech’s list of trends for 2024 is clear.

The effect of AI will be noticeable in different areas across the industry but, in 2024, Ashyrov believes that the main focus will be on the transformation of the existing user experience. So much so that AI will start to play a primary role in the creation of personalised gaming experiences to cater for individual player styles. 

“AI is 100% the most influential technology, both for us at GR8 Tech and the industry as a whole,” he says. “We have long been using AI and ML for content recommendations, and bonus offers in our CRM and we are definitely looking towards using generative AI for a more convenient way of controlling the platform, customer support and maintaining the high SLA of our platform.”

It is also expected that artificial intelligence will be widely used to ensure fair play and to detect and prevent potential fraud. This will serve to increase security and acting as that all important extra barrier to player protection.

Belousov agrees. “AI and machine learning (ML) are vital for advancing the igaming industry,” he says. “Virtually any part of a modern igaming platform, whether a sportsbook or casino, can’t function optimally without these technologies. Their practical applications enhance user experiences and allow for new ways to increase operators’ profitability and player protection.”

The growing use of AR and VR

Over the past five years, AR and VR have been tested in the industry, mainly for suppliers to see what can – and what can’t – work for operators and for players. Now, these technologies have undergone significant advancement, transforming the way we perceive and engage with our surroundings and experiences.

For example, AR has become increasingly accessible, enabling us to overlay digital elements to be overlaid onto the real world seamlessly. When it comes to the online casino industry, GR8 Tech expects to see these technologies become increasingly prevalent.

Ashyrov believes there’s still a long way to go for the adoption of these technologies, but the future is a bright one. “While VR and AR have been trending for several years now, their mainstream adoption isn’t immediate,” he says. “These technologies promise exciting future possibilities, enhancing immersive experiences.”

With VR, players can fully immerse themselves in the sights and sounds of a “real casino” from the comfort of home. Some casinos have already embraced AR to create three-dimensional versions of popular games, propelling players in the action.  

Ashyrov continues: “When AI grows and people get used to VR and AR presence, it will start to emerge in many different areas of life, igaming included. For now, these technologies are mainly used as novelties and rare attractions – [as] special events in the metaspaces, promotional activities, demonstrations, etc. There’s exploration, but not yet widespread use.”

Belousov agrees, suggesting: “In any case, we view this progress positively and anticipate that VR and AR will eventually play significant roles in the evolution of igaming as new content distribution channels.”

Regulation is the word

Along with technological advancements more and more countries are regulating, or are in the process of regulating, gambling across the globe. Because of this, the intricate patchwork of licensing and regulations is growing by the day and, with it, the efforts of operators to tailor their offering to reach these standards. 

Latin America has been the talk of the year and the recent delay in the Brazil regulation vote doesn’t stop the industry from believing that it will be a key fundamental for the industry.

“The industry is trending towards more structured, stricter regulation. Everyone is waiting for the vote in Brazil, which will be a significant driver in the LatAm region for next year,” says Belousov.

“I believe that established European markets, in turn, will continuously tighten their regulations in pursuit of more responsible and transparent practices in the industry in 2024.”

GR8 Tech’s response to this upcoming trend is simple – flexible software solutions that allow operators to quickly adapt to any regulatory changes. “We offer the technological edge and expertise to navigate these changes effectively,” notes Belousov.

Global igaming goals

Although the industry is excited about growth across Latin America in 2024, Asia-Pacific, Africa and the Middle East are also promising possibilities in the year ahead.

“In 2024, GR8 Tech is poised for brand awareness growth and industry presence expansion,” explains Belousov.

“Our focus will be on Latin America, Asia and Africa, where we see promising opportunities with new clients [who] we will soon announce. In addition to this, we will explore new markets within the European region. These strategic vectors align with our commitment to making GR8 Tech a household name in the global igaming B2B market.”

Using trends for the 2024 strategy 

With these trends in mind, GR8 Tech is working on a 2024 strategy for success – and new partnerships are front and centre of the plan.

“The most thrilling development for GR8 Tech is finalising contracts with new clients, which we’ll announce early next year,” Belousov says.

Additionally, the team is set to introduce new standalone products and features, in a bid to continuously enrich the offering they have for operators. “We’ll be reinforcing our position as a leading provider and a lifetime partner for igaming operators.” 

Although GR8 Tech’s flagship product, GR8 Sportsbook, will continue to be the main focus of attention, Belosuov and Ashyrov suggest there are exciting improvements that are set to keep the company ahead of its competitors. 

“GR8 Sportsbook is already well-known in the industry for its outstanding event and outcome coverage, wide variety of sports, the ability to trade virtually anything with our proprietary feed and trading services and unique margin management capabilities that allow keeping the balance between the player’s interest and business attractiveness of the operator,” Ashyrov explains.

“Introducing emerging technologies into our already powerful mix will help GR8 Tech continue setting new standards by improving user experience, fortifying the platform’s integrity and making it an even more attractive choice – a go-to choice – for operators worldwide.”