5 Major Challenges the Gaming Industry Faces October 23, 2020 By Marko Kovacevic Gaming is one of the fastest-growing industries in today’s world. It all started with traditional games such as stones and checkers, but it quickly became one of the most profitable hobbies for many game enthusiasts worldwide. Video gaming as an industry has its roots at the New York World’s Fair of 1940 when Dr. Edward Uhler Condon created a game based on the ancient mathematical game of Nim. But it wasn’t until the 60s that this industry gained worldwide recognition thanks to companies such as Sega and Atari, the latter one retailing at $1.095 in 1973. Since then, we have been able to play some of the most iconic games such as Super Mario, Fenix the Hedgehog, and even some more gruesome and serious ones such as Resident Evil. However, it’s other games that are popular now; ranging from small browser and console games like Farmville, Candy Crush Saga, or Angry Birds to massive multiplayer online role-playing games (MMORPG) such as Counter Strike, League of Legends, or World of Warcraft. But even though everything looks perfect from the outside, as all these games create an entirely new and imaginative environment for the player, this industry is also facing certain challenges.

1. Legal regulations It is challenging to talk from a legal standpoint about the gaming industry’s rules and regulations. Just like there are different types of games that are played throughout the world, specific rules and regulations follow each category of them. For example, it’s essential to understand the difference between gaming and gambling, as the line between these two is often blurred, especially when competitive games are in question. Texas Holdem Poker has different regulations than other browser games that are played, for instance. On the other hand, it’s essential to address the popularity of esports, which is basically a combination of sports and gaming. World tournaments in different games (such as the already mentioned League of Legends or Dota) are so popular that they are even broadcasted on national television. For these games and esports in general, the regulations are somewhat more complicated. These laws include gambling laws, sports laws, and even laws on prize promotions. However, all of this depends on how the games are structured. Companies that deal with these games also have to pay attention to the rules, regulations, and limitations on sponsorships.

2. Market saturation Suffice it to say that gaming and online gambling have become quite popular industries and a massive appetite for them. What is even more important, the appetite is going to increase even more in the future. Why is this so? Because it’s relatively easy to build and launch an online casino website where you will sell your services – the most challenging part is the development level during which the games are created and then picked up by different operators. Moreover, new games are being created on a daily basis, which makes it rather challenging to pick up new users, while old games sometimes have more operators. One of the best ways to ensure that your users stay with you is to find a website with payment options that cater to everyone’s needs. Depending on the user’s country, there are people who do not like to link their bank account directly to the game website or casinos gaming application, so alternative payment methods come quite handy here. This is a great way to stay one step ahead of the competition by giving all users worldwide an equal chance to use your website and be a part of the experience.

3. Loot Boxes All gamers know what loot boxes are, but you might need some clarification if you’re familiarizing themselves with this industry. Loot boxes are digital files that come in the form of rewards in a game. This is something that’s rather popular in practically all games, regardless of the genre, developer, or way it’s played. Users very often pay high prices for loot boxes and only then get the opportunity to open them and se