Should More Wales-Based Companies be Targeting the iGaming Industry?
The gaming industry in Wales is growing, with a number of small, independent companies managing to rise up and gain recognition in recent years. Businesses like Artificial Insanity Games, Blind Sky Studios, and Candlhat Studios have been around for some time but have yet to get worldwide recognition for their work. Perhaps the best route for these companies and other small gaming businesses in Wales would be to tap into the highly lucrative online casino industry, and follow on from other UK-based studios like Northern Lights Gaming.
Online Casino Market is Expanding Exponentially
The gaming industry as a whole is a highly lucrative sector, but online casinos hold a high portion of the market share. The iGaming sector has been expanding exponentially ever since it was first conceived in the 1990s. The 2010s was a particularly good period for online casinos, as technological innovations brought about new ways of playing. In 2010, online casinos generated around $30 billion. Five years later, that figure had shot up to $111 billion.
The genre of game that was the primary focus of developers in the last decade was slots, as this is by far the most popular choice for online casino players. Slots have thrived by having themes that are used to attract a wide range of players. For instance, TV fans will be drawn towards online gambling games like Who Wants to Be a Millionaire, while classic comedy film lovers may prefer an option like Bill & Ted’s Excellent Adventure.
With seemingly endless possibilities for content when it comes to slot games, there is huge potential for small companies to come up with new games. This is exactly what Northern Lights Gaming has done with recent slots like All-Star Knockout, a retro game looking to tap into the trending popularity of nostalgic options. Welsh gaming studios could seek to follow a similar approach and, if successful, may get recognised by leading iGaming providers who would be interested in forming a partnership.
What Other Emerging Trends Should Welsh Companies Look Out For?
If Welsh gaming companies choose to tap into the online casino market, they would be wise to attempt to identify emerging trends and jump on them before the competition. Northern Lights Gaming cleverly identified the market’s need for more retro games and made games to fill this gap.
Virtual and augmented reality are expected to boom in the coming years, with projected revenues of $14.8 billion by 2023. Making games to prepare for this new future could prove fruitful for companies that get in early. At present, the VR and AR industry is young, and there isn’t much content for the futuristic devices yet. It could make sense for gaming companies to focus on making slots that somehow incorporate VR, as this will doubtlessly be the next stage in their progression.
The online casino industry is showing no signs of slowing down, but the booming market which is home to some of the world’s biggest gaming brands may put some smaller businesses off. Success stories like Northern Lights Gaming should help encourage Welsh start-ups to try to force their way into the lucrative industry.