The Influence of Technology on the Casino Industry
Technology is everywhere you go, it’s in supermarkets, cinemas, schools and cars. In this digitally and technically advanced age, technological touch points are a constant occurrence. Whether you’re interacting with a self-scanner at your local Sainsbury or trying to pay for your car registration renewal via a bot, the advancements in technology have been massive over the past few decades. This is especially apparent when it comes to the casino industry, which has experienced its fair share of changes, from the rise and demise of brick-and-mortar casinos to online establishments to instant casinos and now even cryptocurrency-specific ones. All of these changes have one thing in common – technology.
The article aims to shed light on some of the biggest ways that technology has impacted the casino industry.
Safety and Security
One area that has certainly been positively impacted by the upgrade in technology is the safety that players and casino houses now experience. There are many online gaming opportunities across the world and each comes with its own set of rules and regulations, as each country has different regulations around betting. There are UK casinos not on Gamstop that can be played for those in the UK and these games, for example, come with their own set of rules versus casino games based in the US, for example. But one thing remains, the safety of the players and the house are much better, regardless of the geographical location.
The advent of hardware wallets, which protect the virtual coins that players use by storing them on an external drive, or the popularity of 2-factor password software which adds an additional layer of password protection for players, looking to keep their passwords safe from hackers and cybercriminals have been paramount in keeping players safe. Consider the introduction of apps that have become the norm, such as 1Password, which allows punters to save their sensitive information behind a secure master key combination that is almost impossible to hack.
All of the above-mentioned factors have added to players and the casino experiencing more safety and security. The safer the player is, the less at risk a casino is too. The technological advancements are beneficial for both, making for a more enjoyable gaming experience all around.
The Rise of Cryptocurrencies
Another development that has occurred over the last decade and a half, is the introduction of cryptocurrencies. These are a purely digital form of economy that was only made possible with the upgrade of technology. Two or three decades ago, the idea of a virtual economy was impossible to consider. Now, cryptocurrencies are being traded on global exchanges just as the dollar and pound are being exchanged.
This development has created an entirely new dimension of play in the casino industry. First and foremost, it has added to the safety and anonymity of gaming, due to the blockchain technology embedded in each cryptocurrency. Blockchain essentially stores private data in little blocks which are impenetrable and connected by cryptography. This increases the safety of players using cryptocurrency, as the security software around each transaction is impossible to hack. Furthermore, this technology is decentralized, meaning that every player receives a digital address and does not need to enter private details to play, making the gaming experience almost completely anonymous. This safety and anonymity has led to the rise of cryptocurrency popularity within the casino industry.
Furthermore, cryptocurrencies are lower in transaction fees and much faster. For players looking to save on banking charges, look no further than cryptocurrencies. Online casinos even encourage it, as they also pay lower fees on transactions made with cryptocurrencies. Also, another important point is the speed of the transaction which can take minutes to hours with cryptos, versus days with traditional banking methods such as credit cards or debit cards.
A Future Prognosis: An Immersive Experience
Technology has done a great job at improving safety and security within online gaming, it has managed to offer players more anonymity and transparency than ever before and it has become the breeding ground for virtual economies to thrive. Going forward, the sights are set on improving the day-to-day gaming experience that players interact with, which largely comes down to the design and style of games. Countless hours of game development and design have been put into creating a more authentic and immersive casino experience for players.
Many believe that the introduction of AI (artificial intelligence) and VR (virtual reality) is the first step toward a more digital casino experience. Players are now starting to be able to engage with each other, digitally but almost as if they were in the same room. AI-powered games are even able to include touch, smell, sight and more into games, making it feel as real as ever. With the popularity of these more technologically advanced games steadily on the rise, it is almost guaranteed that AI and VR will continue to be used more and more in the casino industry and pave the future of online gambling as people know it.