How New Technologies Are Shaping The Online Gambling Industry

Online Gambling Industry

Published on January 14th, 2020

Games of chance are thousands of years old and they have come a long way from dices in Ancient China to online casinos, which were first introduced in 1994. For over 25 years gambling remains the most popular leisure activity and can be enjoyed in any place in the world.

In a matter of few clicks, you can discover the best online casino operators recommended by reliable gambling experts, create an account, and enjoy favorite games.

All of this would be impossible without a constant evolvement of the iGaming market, which works day and night to make the user experience more engaging, authentic, and fun. So what are the latest technologies, which will shape the market in a matter of years? Continue reading to learn the answer!

Crypto Gambling

Cryptocurrency has entered our world like a whirlwind and isn’t going anywhere. Since Bitcoin was introduced in 2008 and new coins emerged, the gambling industry started using it as an alternative to regular payment methods.

Here are only a few benefits of using crypto when making transactions in online casinos:

  • Complete anonymity of transactions and user details;
  • Absence of extra taxes and fees;
  • Irreversible transactions. This protects online platforms from money laundering and fraud.

According to CryptoSlate data, cryptocurrencies that are focused on gambling are valued over $245 million. They include Dragon Coins, WINk, CasinoCoin, PlayChip, and others.

Virtual Reality

It’s difficult to find a gamer, who has never heard of virtual reality because it has already occupied firm positions making iGaming more entertaining and realistic.

Due to PlayStation VR, Oculus Rift, and Samsung Gear VR it is possible to step into an online casino or any sports event and take part in a wide range of games including betting, slots, roulette, and blackjack.

SlotsMillion was the first online platform that applied VR technology back in 2005. In 2015 Microgaming’s virtual reality roulette earned the ‘Digital Gaming Innovation of the Year’ at the Global Gaming Awards. By using a VR headset and 3D motion, players can use virtual hands to utilize the roulette table, action buttons, and chips.

Gadgets To Wear

It’s hard to impress gamblers with a devoted mobile application or a mobile-friendly website. And considering that smartphones rule the world online casinos should find another way to attract and hold the attention of gamblers.

In 2014 Microgaming has demonstrated an application, which allows users playing casino games via a smartwatch. Later such companies as Playtech, Ladbrokes, and Unilad, have also launched betting and gambling applications for smartwatches.

Just imagine: you no longer need a personal computer or even a smartphone to win a jackpot! Just make a few swipes on a smartwatch and win huge money. Isn’t it a great way to attract millennials to iGaming?

Social Gambling

More and more operators are choosing social gambling over common iGaming products and it is not surprising: this technology allows players to enjoy a game together with their peers. However, it is also beneficial for online casinos because allows attracting new players much faster.

The Gross Gaming Revenue of the social gambling market is predicted to reach $5,5 billion this year and to exceed $6,8 billion in 2024. However, skeptics say that these apps can’t be called gambling because the games are free and the coins are virtual.

But the numbers speak for themselves: more and more players spend money on in-app purchases to increase winning chances and customize the game. Social sports betting platforms are also gaining popularity across the world.

Future Of Gambling

As we can notice, all achievements and technologies are created to maximize the comfort and convenience of players. Considering the tight competition and the fast-growing market, we can expect the appearance of top-notch and exciting technologies really soon. Stay tuned not to miss a single detail.