Industry deep dive: Exploring player behaviour trends in eGaming

eGaming is a global phenomenon. Whether it’s solving crossword puzzles, going to war with ancient civilisations or trying to win the World Cup, there’s a game for everyone.

The statistics speak volumes. Between 2023 and 2030, the global gaming market is expected to go up from $281.77 billion over $665 billion – that’s a compound annual growth rate (CAGR) of 13.1%. Zooming in on the skill-based games sector – which, essentially, is what eGaming is – the revenue is set to grow from USD 34 billion in 2023 to nearly USD 107 billion by 2032.

In this fast-growing space, staying informed about player behaviour, expectations, and industry advancements is crucial. Let’s take a closer look at what’s in the spotlight in eGaming right now.

What is eGaming?

The term eGaming refers to skill-based activities for amusement or recreation that utilise the internet, a PC, or a video game. For example, a mobile app game in which a player must save civilization in an ancient world, or a Formula 1 racing video game, would both fall under the eGaming category. Aside from games that require an initial purchase there are no further mandatory costs, but players can make in-game purchases should they wish. 

eGaming versus iGaming

While eGaming games can be either free or bought, focusing on skill over chance and enabling the option to purchase during the game, iGaming generally refers to placing a bet or wagering against other players or the house. It revolves around chance, with players paying up front to begin the process in scenarios such as online casinos, sports betting and lotteries.

Player trends and insights in eGaming

In this piece, we’re focusing on the habits of eGamers specifically. When we dive deeper into this sector, there are some stand-out data points worth keeping in mind to help you remain agile and in line with players’ needs:

In-app purchases are propelling mobile gaming’s growth

On a market level, Germany saw EUR 2.9 billion spent on mobile games in 2023 (almost double 2018’s EUR 1.49 billion) and 98% of mobile gaming revenue was from in-app purchases. 

With the rollout of 5G and the elimination of roaming charges across the EU by many providers, mobiles have become the preferred gaming device globally. A global survey by NewZoo revealed that mobile games accounted for 49% of the global games market in 2023, totaling USD 89.9 billion. This puts mobiles ahead of console games at 28% and downloaded/boxed PC games at 22% (with browser PC games coming in at 1%).

New gamers are more likely to pay

NewZoo also found that 86% of new gamers pay when gaming, The most money is spent on in-game subscriptions and in-game currencies (37%), followed by power-ups (36%), enabling enhanced abilities or temporary benefits. Another popular cost was expansion packs, which give players more content. 

Furthermore, over 80% of new gamers are likely to explore other platforms promoting their favourite games, such as Instagram and Facebook, presenting ample opportunity to promote new features available to purchase.

Multiplayer games see more in-app purchases 

According to a global Unity report, games with multiplayer options saw over 40% more monthly active users in 2023 compared to single-player only. Stronger internet connection and advancing technology in graphics and processing power are just a few factors driving the growth, and studios are seeing the benefits – with 68% focusing on developing multiplayer games to bring in more players. 

This higher number of active users can have a direct impact on revenue. Unity also found that in 2023, spending on multiplayer games rose by 10%, and this figure is expected to grow by an additional 7% in 2024. It could be that players are more inclined to make purchases to keep up with fellow players, such as power-ups to get ahead in the game or appearance upgrades to match friends. 

eGaming creates online communities

With multiplayer soaring ahead, it demonstrates how eGaming has solidified itself as a social experience. A 2023 study from the Entertainment Software Association found that 88% of respondents feel games expanded their social circles. 

The Unity report found that ‘Easy communication’ was the most worthwhile feature for players opting for multiplayer experiences, followed by lag-free experiences.

Cross-platform gaming is growing

While mobile devices lead the charge, there’s an increasing demand for the ability to play a single game across various platforms. Cross-platform functionality allows players to continue their game seamlessly across different devices using the same credentials. 

Businesses that succeed in providing a consistent cross-platform experience not only appeal to 87% of multiplayer gamers who have engaged in cross-platform gaming, but can see a revenue increase of 20-40%. It’s crucial, however, that each platform is consistent in terms of gameplay and the point of payment. While mobile games lend themselves to mobile payments, making purchases on a console differs – with options including topping up a wallet, paying via mobile (which syncs the player’s phone provider with their console purchases), or purchasing via the console’s app if available.

Personalised offerings increase spending 

Players today expect brands to recognise them and reward their habits. In return, players can significantly boost revenue by making bigger purchases. Mistplay found that over 40% of in-app buyers would spend more if presented with personalised offers, based on aspects such as in-game progress, previous purchase habits, and even birthdays. 

How open banking enhances the gamer journey

Open banking payments are a must-have as a gaming business. In short, they enable players to make payments directly from their bank account. They simply select who they bank with before approving the pre-populated payment in their banking app. There are several key benefits of open banking – and Volt’s offering – that elevate the experience for both players and merchants: 

A checkout built for speed and ease

Volt’s Checkout is a strong fit for the eGaming industry, offering an intuitive and seamless experience, especially for players new to ‘Pay by Bank’. With a welcome screen that details the three-step process while the banking list pre-loads, players can choose their bank and complete the payment in just a few taps. 

Guaranteed purchases 

Open banking not only offers a fast checkout, but since these account-to-account payments aren’t connected to cards, the absence of intermediaries ensures a smooth and rapid transaction without the risk of failure at one of the points of call (i.e. the acquirer or card network), keeping the gaming experience uninterrupted. 

A secure, trustworthy payment

Security is paramount in any online transaction, and open banking stands out in this area. Since no sensitive data is shared, the risk of exposure to hackers is minimised and sensitive card details are not stored across multiple platforms to enjoy a cross-platform gaming experience. Transactions are approved by gamers via their banking apps, leveraging the built-in security features of online banking. 

Furthermore, the friction of two-factor authentication (2FA) – requiring the user to confirm their identity via two devices – is removed since the gamer is paying directly from their bank account. For those games that have younger users, this Know Your Customer (KYC) protocol ensures they are not spending an older family member or friend’s money without them knowing.

Cost-effective revenue 

Both card payments and digital wallets involve multiple fees that can quickly add up. In gaming, where transactions are frequent but typically of lower value, there will be lots of small costs to keep track of and, in the case of interchange fees for Visa and Mastercard, yearly adjustments to amounts. Open banking bypasses the need for card payments and multiple intermediaries, significantly reducing transaction costs. This cost efficiency is particularly beneficial for gaming merchants, allowing them to retain more of their revenue. 

Now’s the time to strike while the iron is hot if you haven’t already found an open banking provider to take your gaming offering to the next level, or are looking to expand your breadth. 

Want to find out how Volt can help you achieve your goals? Get in touch to hear about our global solution for gaming merchants.