According to Statista, the global online gambling market is expected to grow to more than $92.9 billion by 2023. As of 2021, the total market size is valued at $59 billion, meaning the industry’s size will double in the next few years. So, what sustains the popularity and growth of the online casino industry? Aside from the growing interest from experienced and casual players, the casino’s popularity is due to new technologies and innovations. With new technology and innovations, players enjoy better, lucrative, and more immersive games. Here’s a look at the best technologies that redefine the online gambling landscape.
Mobile gambling and mobile casino apps
The use of smartphones to play online casino games is not new. But the current generation of casino apps offers players a more immersive mobile casino experience. Using these apps, players can enjoy a wide range of games from slots, table games to live dealer selections. Also, players can now choose between native apps and web apps. Both work on phones that run on the latest iOS and Android operating systems.
AR and VR technologies that improve players’ engagement
Augmented Reality (AR) and Virtual Reality (VR) are popular technologies that improve the overall casino experience. With these technologies, players enjoy ultra-realistic images and sounds for an immersive experience. A VR allows a player to enter a virtual casino, navigate the virtual game landscape or even enjoy the games with other players.
Netent is one of the pioneers in the industry that invested in technology through its Gonzo’s Quest VR. Introduced in ICE Totally Gaming in London in 2017, this VR-powered game is an improvement on the classic Gonzo’s Quest online slot. Instead of a passive player, this game lets a player enter the virtual world and join the playful Gonzo in search of the lost gold. Aside from slots, these technologies are now used in designing poker and blackjack tables.
Blockchain technology and the rise of cryptocurrencies
If there’s one technology that’s been dominating the internet right now, then it’s cryptocurrency. Whether it’s in investing or in business transactions, these digital currencies reshape online payments. Blockchain technology is a distributed database that’s shared among nodes in a computer network. It stores information in digital format and serves as the backbone of the most popular cryptocurrencies today such as Bitcoin and Ethereum.
With blockchain technology, digital currencies enjoy a secure and decentralized record of transactions. These are the primary reasons why many casinos today welcome and accept cryptocurrencies. By using Bitcoin, Ethereum, or other cryptocurrencies, players can enjoy fast, secure, and instant transactions in an online casino. Thanks to its utility, you players can now find crypto-focused casinos. Its adoption also gives rise to the popularity of provably fair online casino games. These are casino games that run on blockchain and guarantees players the transparency of results.
Numerous safe and reliable payment methods
Another development in casinos is the introduction of safe and reliable payment methods. Players can still rely on traditional payments like credit and debit cards and bank transfers, but newer ways to send cash are changing the dynamics. In top online casinos, it’s now common to find several leading e-wallets like Skrill, Neteller, and PayPal. As mentioned, another important innovation is the blockchain technology that paves the way for Bitcoin, Ethereum, and Litecoin. These digital currencies rely on peer-to-peer networks and not influenced by governments and Central Banks. Digital currencies like Bitcoin are known for their fast, instant, and secure casino transactions.
New technologies mean improved user experience
Online casino gambling becomes more entertaining with the use of new technologies and innovation. The games’ graphics and visuals are improved, and the math is solid. Also, these new technologies improve the players’ access to games, allowing them to enjoy these in different ways. It’s now possible to enjoy these casino games across devices and playing against a human dealer in real-time is now a reality.
In short, both the casino players and operators are the winners in an industry that’s dominated and improved by new technologies. Casinos can leverage these technologies to boost their bottom-line, and players enjoy an improved user experience while playing for jackpots!