Like all other industries, the gaming sector took a massive hit as the global pandemic put the squeeze on all aspects of everyday life.
However, unlike many other types of businesses, the gaming industry is on the verge of recapturing its former glory regarding revenue and outreach.
The gaming market’s ability to recover and subsequently thrive has been off the charts as it has reached unprecedented heights in the past two years.
Its unparalleled capacity to adapt to new circumstances while embracing technological advancements and swerving consumer preferences has been a cornerstone of its incredible resurgence.
As the industry’s influence continues to spread across the globe faster than the pandemic, it could soon pierce new territory, with the Middle East next to fall victim to its irresistible charms.
The demand for online gambling and betting platforms among Arabic players has been on an upward curve over the past few years. There’s a growing interest in almost every form of online wagering, from casino games to sports betting.
Emerging online casinos for Arabic players should gain a foothold in this brand-new environment in 2024, provided the anticipated regulation changes go through as smoothly as expected. Starting with the United Arab Emirates and Saudi Arabia, the Arabian Peninsula is bracing for a historic transition.
Wynn Resorts’ blockbuster deal to build a luxurious hotel in Ras al-Khaimah, the emirate north of Dubai, has been considered a history-defining moment for the gaming industry in the Middle East.
With the UAE already laying the foundation for groundbreaking legislation to accommodate the legalisation of gambling against its history and strict rules, it is only a matter of time before the gaming fever penetrates the Middle East marketplace.
The appointment of Jim Murren as the General Commercial Gaming Regulatory Authority’s chairman unequivocally shows the country’s ambition to leave its rich tradition behind.
If you wonder why the UAE has decided to undergo such a dramatic U-turn, you’re perhaps unaware of the online gaming industry’s obscene profits.
The sector generated more than $60 billion in 2021, with experts’ forecasts backing it to hit a mind-blowing $100bn threshold in 2024. Everyone wants their piece of the pie, including the Middle East states.
Once the new legislation comes into effect in the UAE, all other Middle East countries should board the plane as we look at the online gaming trends to watch in 2024.
Groundbreaking Technological Advancements
Tech innovations continue to change the world on an almost daily basis. As one of the fastest-adapting industries, the gaming sector has proved well-versed in reaping all the benefits of the latest tech advances, using cutting-edge technology to keep customers engaged and attract new players.
When it comes to online casinos, the emergence of Virtual Reality (VR) and Augmented Reality (AR) has signified a crucial juncture. VR has already taken a central stage in the gaming culture as it now bids to transform conventional forms of gambling.
The addition of VR ought to usher in a new era of online gaming, offering players a more personalised and immersive experience. While it will probably take some time before VR reaches its full potential, especially in the Middle East, it will redefine the landscape of iGaming.
Artificial Intelligence & Machine Learning
AI and machine learning technologies have already had a significant impact on the online gaming landscape. Casino operators strive to offer customised game recommendations and immersive experiences by analysing player preferences with these advanced tools.
AI-powered algorithms are intended to increase the likelihood of detecting early signs of gambling problems and in turn provide the necessary support in overcoming these issues, contributing to preserving responsible gaming measures.
While there’s no doubt casino providers will leverage these advancements to keep players engaged and hooked, customers’ wellbeing should also benefit from these innovative tools.
Cloud Computing
If you’re unfamiliar with the term, cloud computing is among the latest world-changing technologies anticipated to reshape the online gaming industry.
It basically transfers gaming data from personal devices such as computers or smartphones to remote servers or separate computers, meaning users do not need to download or install apps to access their favourite content.
Additional hardware is not mandatory for cloud computing as long as you have a stable internet connection.
Crypto Set to Become New Gaming Currency
The influence of cryptocurrencies such as Bitcoin and Ethereum extends across various industries, including gaming.
Their adoption enables players to make instant deposits and withdrawals, taking transaction security and duration headaches out of the equation.
Blockchain technology has revolutionised the financial world. With no need for third-party payment processors, the use of blockchain has become a go-to option for individuals keen to protect their privacy and stay anonymous.
More importantly, while addressing the issue of anonymity and ensuring swift and cost-effective transactions, blockchain’s transparent ledger guarantees righteousness and eradicates fraud risks.
As many ‘gamers’ prefer anonymity, cryptocurrencies are in the driver’s seat to leapfrog fiat currencies in the foreseeable future.
