The latest tech trends that are shaping the online gambling world
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Over the past decade, there have been some significant changes to the online gambling industry, in which the digital revolution has fuelled rapid growth across the globe. By the end of 2021, the global gambling industry is expected to be worth $72.2 billion US dollars ($98 billion Australian dollars) and growing at an annual CAGR rate of 12.3%.
Thanks to continually developing technologies, the online casino sector has significantly benefited. Now there are more demographic groups than ever before getting involved in online casino games. This is aided by the decreasing entry cost of technologies like smartphones, in addition to increased Wi-Fi coverage across the world.
Below, we’ll take a look at some of the top tech trends that are shaping the online gambling world.
Cryptocurrencies
While online payments were thought of as a higher risk than visiting a store just a decade ago, today’s online payment methods have developed significantly. There are now many alternative payment methods to debit and credit cards that offer a safer alternative means to making deposits and withdrawals.
Payments from e-wallets have become incredibly popular in recent years, in which providers like PayPal have made it much easier for customers to make transactions without needing to enter their card details online.
What’s more, the introduction of crypto casinos that accept cryptocurrency as an exclusive form of payment is on the rise. Differentially from mainstream payment methods, cryptocurrencies operate on blockchain technology, meaning payments are not monitored by any central banking authority. This makes payments much quicker as they don’t need to be approved by a bank, as well as offers players more anonymity.
Robotic Process Automation
Robotic Process Automation or simply RPA is a type of technology similar to machine learning or AI. It works by automating manual processes through software, such as processing data, sending automated emails, or registering transactions.
This technology has been essential in allowing online casinos to scale rapidly without needing to find resources for more staff. By automating sign-ups and transactions on an online casino site, providers are able to allow an unlimited amount of people to join their online casino, without having to worry about having enough resources to handle the admin side.
Mobile gaming
While online gameplay used to be limited to an arcade or a home computer or console, today’s gamers can enjoy playing online games from anywhere and at any time of the day or night through their mobile.
As mobile devices have become more affordable and 4G and 5G technology has become more widespread across the developing world, additional demographic groups have been able to access online gaming. As such, there’s been a large increase in the number of female gamers, which has shifted the types of games and marketing materials generally used within the industry.
The added convenience for players has also meant that many people are now opting to play online casino games at home, rather than visiting a brick-and-mortar casino. The dwindling footfall to casino venues has left their future hanging in the balance, meaning that casinos are having to innovate their online offering to survive.
Virtual Reality
Just a few years back, VR technology was reserved for either the wealthy or those who worked in the architectural industry. Today, VR headsets have become mainstream and are used by players for many games, whether on a computer, through a console or even on a mobile device.
VR technology has particularly impacted the online casino industry by enabling a merge between the physical and virtual worlds. While brick-and-mortar casinos offer an exciting atmosphere, online casinos generally lacked the experience that people could get from going out and socializing at a casino venue.
Today, VR has enabled players to become fully immersed in the casino experience, complete with live dealers who are able to interact with players in real-time.
Subscription culture
Long gone are the days where players had to flock to the local gaming store and queue up to get a copy of a new release. In fact, players no longer need to purchase a game exclusively at all. Online gaming is now, like many industries, shifting to a subscription model, whereby players pay a monthly fee to be able to access a variety of games. This enables players to try out new and exclusive titles as and when they’re released, allowing greater exposure to new developments.
Online streaming platforms operate via cloud technology which also means players don’t have to worry about finding space on their device to store a game, or about losing files if something goes wrong.
Overall, the online gaming industry has grown at a significant rate over the past few years. As we continue through the digital revolution, new and emerging technologies will continue to have a positive impact upon the growth of the industry, helping to increase global revenue and expand exposure to more demographic groups across the world.
As for online casinos, there’s never been a more exciting time to get involved and start playing your favorite traditional casino games from the comfort of your own home.
