The gambling industry has evolved by leaps and bounds from where it was a few years ago. According to a report, the global gambling market is expected to reach $500 billion in 2021. It’s safe to assume that the gambling industry is not going anywhere, anytime soon. The industry is growing due to easy accessibility to the internet and smartphones.
Today, anyone can gamble online anywhere in the world from a luxury casino in Canada to popular online casinos around the world. The online luxury casinos offer poker, roulette, and several modern takes of classic casino games. The advent of mobile-friendly websites and online games has made it quite straightforward for players to play from the comfort of their homes.
One of the major factors fuelling the popularity of online casinos is the adoption of technological advancement in the past. The gambling industry continues to be flexible with technology and with new advancements, it’s expected to grow further. Here are five technologies that will change online casinos in the coming year.
IoB or Internet of Behavior
Everyone knows about the Internet of Things or IoT, which is a network of web-enabled smart devices that communicate over a network. However, not many are familiar with the Internet of Behavior or IoB. Unlike IoT, IoB facilitates understanding of the users’ online activity data from the perspective of behavioral psychology.
Big data analytics from a behavioral perspective is important for online casinos to draw in more users. Casino providers can tailor their offerings for users by understanding their betting behavior. Additionally, IoB is helpful in spotting players facing problems and aiding them. While this may not mean so much for the end-user per se but will help casino operators quite a lot.
Cryptocurrencies have been popular lately with Elon Musk and Bill Gates openly talking about their benefits. According to Statista, the size of the cryptocurrency market globally is $1.2 billion with over 79.3 million Blockchain wallet users worldwide. While the industry might seem rather small at the moment, it’s expected to grow at a rapid rate in the future. Currently, there are over 4,000 blockchain currencies on the market as of 2021.
What makes blockchain currencies click is the nature of the currency. Cryptocurrency is a decentralized digital currency that’s not issued by a bank or financial establishment. The transactions are anonymous, secure, and have lower transaction fees. By accepting cryptocurrencies, online casinos can attract tech-savvy individuals with higher disposable income.
Introduction of AI and ML
Artificial Intelligence and Machine Learning are everywhere now. From the chatbot on your favorite website to the guided tutorial online, all of them are AI or ML-based. For businesses, this is a very effective way to handle customer inquiries and enhance the experience.
As for the online gambling industry, ML and AI can prove to be extremely beneficial in several aspects. They can be used to give tutorials on how to play a certain game or navigate the interface. AI can also be used to set up a naturalistic and human-style dealer in a blackjack game.
Augmented Reality and Virtual Reality
Augmented reality and virtual reality are the future of gaming and online casinos are likely to benefit a lot from the tech. With a live dealer and AR/VR, players will be able to experience realistic gaming and win real money, all from the comfort of their homes.
With a combination of audio-video effects, 3D images, and advanced headsets, players will be able to experience an actual casino. Gaming in AR and VR has made significant strides in recent years. It’s only a matter of time before the online casino industry adapts to it as well.
Like every other modern tech, wearable devices have also advanced and can almost replace a smartphone in some cases. The online casino industry has adapted to the wearable trend quickly. There are several slots and table games now available for smartwatches. These allow players to play any casino game from anywhere. Apart from smartwatches, smart glasses and AR/VR headsets can also amplify the experience manifold for players.
Casino and recreational gambling is no longer a novelty. Anyone with access to the internet and a decent mobile can place bets and win big online these days. Moreover, playing an online casino doesn’t require burning a hole through your bank account anymore. Low minimum betting limits allow players to gamble in a controlled manner and avoid huge losses as well.