21st century is the era of technologies. Technologies have affected almost every industry and every sphere. Technological development has a huge impact on the industries in terms of technological transformation. The gambling industry is one of the biggest industries in the world, and thus it has a heavy wage on the global market.
The gambling industry has been affected by technological development a lot. Technological advancement has already had a great impact on the gambling industry. It has introduced new tendencies and new methods of controlling the market. It is no surprise that further changes will be implemented within the market, possibly completely reshaping it from the current state.
It is impossible to talk about the future of online gambling without mentioning the penetration of cryptocurrencies into the iGaming market.
Since the invention of Bitcoin in 2008, several other cryptocurrencies have also emerged and slowly established themselves as great alternatives to traditional cashless payment methods for both iGaming operators and players.
At the moment, gambling-focused currencies are reportedly valued at more than $245m according to data from CryptoSlate, and those who are currently ruling the chart.
However, using cryptocurrencies in the online gambling and betting industry is such a controversial topic due to their vigorous market fluctuations and volatile prices. Despite such market risks, crypto gambling keeps rising in popularity because of the advantages that government-regulated currencies failed to offer, such as:
- Total anonymity for users and transactions – personal information is kept safe and secure via the blockchain
- Access to provably fair gambling – for honest and transparent gambling systems
- Instantaneous acceptance and withdrawal of funds
- No extra transaction cost/tax – since cryptocurrencies are not regulated by any government
- Irreversible transactions – which prevents iGaming operators from chargeback fraud and money laundering
Virtual Reality Technology
Virtual Reality (VR) technology, a forerunner of the video-gaming industry, has already made its way into the iGaming market to make gambling more fascinating and entertaining. Thanks to various VR headsets such as Oculus Rift, Sony PlayStation VR, and Samsung Gear VR, it is now possible for players to actually step into a virtual casino or a sports event, and participate in an immersive gambling experience. Some major types of online gambling activities that have started adopting VR technology are Slots, Blackjack, Roulette, and Sports Betting.
In 2005, SlotsMillion made a breakthrough in the online gambling industry as the first online casino in the world to use VR technology. This virtual casino app has a retro-futuristic casino vibe with a bar, a lounge, and a dedicated game area with several slot machines where you can dive into slot games of your choice.
Another big provider driving the momentum of iGaming VR technology is Microgaming’s VR Roulette, which earned a well-deserved spotlight as the winner of “Digital Gaming Innovation of the Year” award at the Global Gaming Awards 2015, and “Innovator of the Year” at the International Gaming Awards 2016.
By using 3D leap motion sensors and a VR headset, players can use their virtual hands to interact with chips, the roulette table, and action buttons in the game.
From what we observed, the current VR gambling technology is not above-par yet compared to its video/PC gaming counterpart; however, it is slowly gaining momentum to capture the heart of millennials. As much as we are eager to see a faster pace in development, do bear in mind that you can’t build an empire in a day. So, it’s only a matter of time that players can enjoy an inclusive casino experience without ever leaving the house.
This is 2019. Taking pride in having a mobile-friendly product is not very impressive anymore. Instead, it should be a staple by now. Mobile devices have been ruling the world, and we all know it. And it will continue to do so as long as these gadgets continue to hold great value in our everyday lives.
What would be a good upgrade in the iGaming sector for this era is being compatible across all devices or making a wearable gadget-friendly app. The latter concept was first revealed by Microgaming in 2014 when they demonstrated a casino app that allows users to play jackpot via a smartwatch. Later, other well-known companies like Unilad, Ladbrokes, and Playtech have also joined the race in creating gambling and betting apps for different types of smartwatches.
Gambling can’t get any more convenient than that – all you need is a swipe on your watch to hit the jackpot! This is also one creative way for iGaming businesses to get millennials on your side!
Live Dealers
One of the most exciting things about land-based casinos is human interaction. Previously online casinos were the places, where you would definitely miss that opportunity. but guess what? not any more! Online casino developers came up with the technologies that enable live dealers in online casinos. While playing online, comfortable at your home, you can still see some live dealers in the online casinos. Those will be ordinary dealers just like casinos, who will be guiding you through the who;e game. Human dealers will interact with you through the sophisticated sensors and cameras placed in the specifically dedicated studios. The live dealer games also offer some features such as live chats and also give the players the opportunity to experience the social aspect of gambling.
Mobile Friendly
With the introduction of smartphones, life became a lot easier than it used to be. Everything is available within a single clock on your phone. With the development of mobile technologies, it also became very easy to create mobile-friendly games, including online casino games. Many people have switched to mobile applications and user-friendly games.
While the technologies keep evolving, soon we might come across with completely new reality. If previously humans were the ones to shape the industries, now, the technologies are doing it for us!
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