The Future Scope & Opportunities in Online Poker Gaming Industry
Table of contents
1. Introduction
2 Why has online poker gained popularity?
3 Insights of online poker industry
4. Market analysis of online poker industry
5 Opportunities in online poker industry
6 Count on GammaStack and get comprehensive online poker software development solutions and services
7. Sources
8 Frequently asked questions
Online poker is just not a game of skill but has also proved to be a main generator of revenue for different iGaming platforms With the launch of new technologies and advancements in the industry trends, the online poker industry is expecting more growth in the upcoming years. iGaming companies can capitalise on the rapidly growing online poker industry and make this iGaming vertical a huge profit generator for their iGaming business Since its inception, the online poker industry has come a long way and set new milestones of success. It has now turned into a multi-billion dollar industry from a niche market & has millions of players who participate in different variants of poker games and online tournaments
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Why has online poker gained popularity?
● Easy accessibility
Regardless of the geographical location, the game of online poker is available for all the players from different parts of the world. You just require a mobile device, desktop or laptop along with an Internet connection to access the online poker platform easily at any time and at any time You can now enjoy the online poker game easily in a hassle free manner while sitting in the convenience of your homes without having the need to visit land based casinos.
● Exciting variants
A wide variety of engaging online poker games including seven-card stud, texas hold’em and many more are offered by online poker sites and players can choose the gane type or tournament type (multi-table tournaments, sit-and-go tournaments, etc) as per their preferences Online poker has become an appealing and engaging option for the players as compared to the traditional casinos due to the availability of different game types
● Skill based game
Being a skill-based game, online poker makes it easy for the players to enhance their skill sets as well as compete with other stronger players from different geographical locations Different resources such as tutorials, forums, etc are offered by the online poker sites which can help players to enhance their gameplay. Players can also track the progress of their gameplay over time and compete with other players for rankings in leaderboards
● Convenience
A high level of convenience is offered by the online poker sites which is not in the case of traditional casinos as in online poker platforms, players can easily access the games as per their availability without having the need to keep on waiting for the table at land based casinos to open up. Also, a wide range of withdrawal as well as deposit options are available in online poker sites which makes it easy for the players to withdraw their winnings and fund their accounts
● Enhanced player base
The player base of online poker is growing in a rapid way globally, having millions of online poker game players who are participating in online poker tournaments every day. Due to the enhanced online poker player base, there is also an enhancement in the prize pools as well as increased competitiveness in the tournaments Also, an array of incentives such as loyalty programs, bonuses and promotions are offered by online poker sites for attracting and retaining players.
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Insights of online poker industry
● The growth of online poker market is expected to witness growth at a CAGR of 12% in the period of 2022-2030
● In 2021, the value of market size was at around 76 Billion USD and in 2030, it is expected to reach 170 Billion USD.
● A wide array of driving factors contribute to the significant growth prediction of the online poker market
● Mobile usability is one of the key driving factors enhancing the growth of online poker gaming industry as it makes it convenient for online poker players to use their iOS and Android devices for playing poker iGaming companies can invest on mobile-friendly online poker platforms and apps to bring more engagement
● Cryptocurrency is another key aspect that is gaining huge popularity in the online poker industry Different online casinos have started accepting cryptocurrency as payment options and many iGaming companies are capitalising on this new industry trend by accepting crypto withdrawals and deposits. Including cryptocurrency as payment option in your iGaming platform can help you attract new players who are looking for fast and safe transactions
● Live streaming has been on rise since the past few years and people are getting inclined towards live streaming platforms. The online poker industry has also adopted this trend and thus there is an unparalleled popularity of poker live streaming on platforms such as YouTube, Facebook, Twitch and many more iGaming companies can capitalise on the live streaming trend by doing live streaming of their games on different platforms and create an interactive gaming experience for their audiences.
● The industry of online poker is seeing a significant growth rate and by 2030, it is expected to witness a market size of around 170 Billion USD
● iGaming companies can capitalise on this industry’s growth through investment on mobile-friendly platforms, live streaming their games and accepting crypto payments on their gaming platforms
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Market analysis of online poker industry
● In the late 1990s, there was the launch of the first online poker site and it succeeded in engaging players.
● By the early 2000s, there were many more online poker sites and the market of online poker started to take shape
● The industry actually exploded in 2003 due to WSOP( televised World Series of Poker) when Chris Moneymaker, an amateur player, won
● Via an online satellite tournament, Moneymaker won in WSOP and in the main event, he won $2 5 million as prize money
● Public’s imagination captured his story and a huge surge of interest was sparked in the online poker industry
● There was skyrocketed growth in the count of sign ups of the players and it led to the growth of the industry.
● The enhancement in internet penetration and adoption of smartphones, the online poker market is expected to drive huge growth in the upcoming years
● As per GSMA, in January 2023, there were around 5 44 billion unique mobile users thus the world's more than two-third population uses mobile phones.
● Also, there is an increase in the count of cellular connections which are connected to smartphones and as per statistics, 4 out of 5 mobile phones are now smartphones which are used worldwide
● Internet users are also growing at a very rapid pace.
● The above mentioned statistical analysis supports the growth of the online poker market globally
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Opportunities in online poker industry
● If we look at the statistical analysis of the online poker industry, the industry seems to witness huge growth in the upcoming time.
● A variety of trends in the online poker industry are likely to shape the industry's future in the coming years
● Online gambling industry’s continued expansion globally is one of the reasons behind the growth of the online poker industry.
● As there is legalisation of online gambling in more countries, the online poker market is expected to grow further
● Enhanced use of blockchain technology in online poker platforms is another trend which can shape the online poker market’s future significantly
● Blockchain possesses the potential of revolutionising the online poker industry by offering a decentralised, transparent and secure platform for players
● The effect of the adoption of blockchain contributes to the market expansion of online poker globally
● Different online poker websites and apps have started accepting crypto payments
● Blockchain ensures safe transactions and transparency in gaming activities for your players.
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Count on GammaStack and get comprehensive online poker software development solutions and services
If you require a safe and reliable online poker game software development company, then you must consider GammaStack and get a state of the art online poker game platform integrated with secure payment options, advanced features, engaging poker game variants and much more. We can do complete customisation of your online poker game software depending on your specific needs Our team can offer a variety of online poker software development solutions and services such as white label poker software, custom poker software, turnkey online poker software, poker game app development, etc
Sources
https://wwwmarketwatch com/press-release/2023-2030-online-poker-game-market-trends-pr ojections-and-drivers-survey-2023-03-30
Frequently asked questions
1. Why is online poker so popular? Online poker is so popular because it’s a skill based game, is easily accessible, has exciting variants, etc
2 Can you offer custom online poker software? Yes, we can offer custom online poker software development
3. Can you provide Texas Hold’em online poker software? Yes, we can build Texas Hold’em online poker software
4. Are crypto payments supported in your poker software? Yes, crypto payments are supported in our poker software
5 Do you offer online poker mobile app development? Yes, we offer online poker mobile app development.
