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Live Casino: The Future and Main Attraction of iGaming
By Shane Addinall Oct 29, 2022 OpinionWith changed consumer behaviours as the post-pandemic world migrates online, live casino giant, Evolution reports on exceptional performance, and we discuss the iGaming segment's trajectory.With the enormous growth experienced in the iGaming industry, leading software provider, Evolution believes the Live Casino segment is at the forefront of the industry's rapid growth. The iGaming giant recorded double-digit growth in Q3 with tremendous demand for Live Casino products.
Evolution is the leading software provider for live casino products; however, the segment has seen more rising stars in the past year. Although RNG-based games remain a solid choice for online players, statistics make us wonder whether live games will soon be the market leader as it drives exceptional industry growth worldwide.
Live Casino Among the Fast-Growing Gaming Segments
Evolution holds the greatest share of the live casino division as the market leader. Along with its stellar revenue increases for Q3, the company CEO confirmed its position relative to other providers. According to Martin Carlesund, Evolution CEO, the company continues to increase its market share and lead distance from competitors.
Thanks to the continuous high demand for live casino content, Evolution recorded a 37% top-line revenue increase for the third quarter of 2022. Its Q3 operating revenues add up to €378.5 million, of which live casino accounts for €310.4 million, a 45% increase year-on-year.
Carlesund commented on the achievement and said:
“We continue to see very strong global demand for our new as well as existing products.”
From January to September of 2022, Evolution experienced a 37% year-on-year growth and produced €1.05 billion in revenue. The company believes live casino has a secure position in the fast-growing gaming segment. As only one of the developers of live content, it seems likely that it could soon be the main attraction.
Healthy Competition for Sustainable Growth
Although other leading operators, such as Microgaming and Playtech, entered the live casino market around the same time as Evolution, the latter managed to surpass all competitors. Today, Evolution is the golden standard for live gambling content. Until recently, the company had few rivals and dominated all live markets, plus it acquired Ezugi, another star in the live segment, to further secure its foothold.
The innovative software company, Pragmatic Play joined the leagues a short while ago and has since established a reputation for producing premium live content with creative twists. With increased options and technological improvements in devices and connectivity, players noticed the action and thrills in live casino games.
This year, providers like Stakelogic and OnAir Entertainment often make headlines with supplier agreements in many regulated regions. Players now have more than a dozen options for live gambling entertainment, and as technology progresses, the possibilities will also.
With improved competition, the live segment shows much promise to advance as the market leader in iGaming. During the global pandemic, the paradigm shift with at-home entertainment changed consumer expectations and opened alternative routes for providers in the iGaming sphere.
A Matter of Time
Evolution is no longer the only fish in the pond, and whether it will acquire more of the smaller studios to hold on to market share or allow them to grow into their own remains to be seen. The exceptional and continued growth experienced by the live casino giant pays testament to the segment's potential and direction.
Whether live casinos will dominate the market is no longer the question; when they will take over is.
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