As online sports betting continues to sweep across North America, the term “iGaming” is showing up everywhere—from social media ads to major media platforms like ESPN. Among the major players is Soft2Bet. Join Soft2Bet to experience what iGaming is all about. But what exactly does iGaming mean?
Growth Of Industry Players Like Soft2Bet.
The iGaming market is booming. As of 2024, the global industry is estimated to be worth over $90 billion annually, according to Sports Betting Dime. In the U.S., states like New York, Louisiana, and Michigan have seen record revenues from regulated online sports betting. In Canada, Ontario launched its own iGaming market in April 2022, inviting private sportsbooks to compete alongside government-run platforms. Soft2Bet is a leading iGaming platform provider and operator group, specializing in delivering turnkey solutions for online casinos and sportsbooks.
iGaming Defined
iGaming refers to any form of betting conducted over the internet. This includes online sports betting, virtual casino games, online poker, esports betting, and more. If you’re placing a wager through a phone, tablet, or computer, you’re engaging in iGaming. The “i” stands for “internet,” which is what distinguishes it from traditional in-person gambling, according to Sideline.
iGaming Vs. Esports And Video Games
While the term is sometimes confused with video gaming or esports, iGaming is focused on real-money betting. It’s about wagering on outcomes—whether it’s a football game, a roulette spin, or a poker hand. Esports betting is part of iGaming, but playing video games without betting doesn’t qualify.
Legal Landscape
The legality of iGaming varies widely. Countries like the UK, Italy, and Sweden have long-established markets. The U.S. began allowing states to legalize online sports betting in 2018. Not all states have followed suit, and rules differ in each jurisdiction. Canada’s system is also evolving, with Ontario’s market setting a new precedent for privatization and competition.
Trends And The Future
Looking ahead, several trends are shaping the iGaming future:
- Mobile-first betting: Over 90 percent of iGaming happens on mobile devices.
- Data-driven experiences: Platforms use betting history to offer personalized bonuses and recommendations.
- Security upgrades: As the industry grows, so do cybersecurity investments to protect user data.
With innovations like cryptocurrency, VR casinos, and instant mobile payments on the rise, iGaming is poised for even greater expansion. Whether you’re a seasoned bettor or new to the game, understanding iGaming gives you a front-row seat to one of the fastest-growing digital industries in the world.
