The future of gambling: Trends and innovations in the casino industry
The gambling industry has surprised many. What started as an emerging industry is now worth billions of dollars and is projected to witness a CAGR of +10% in the next decade. And all this ties to the use of technology.
Take online casinos as an example. These platforms allow players to enjoy casino games from any place at any time. A player signs up on a casino online site, and suddenly, it is as if they are in an actual casino. Of course, the online casino experience differs from traditional casinos. As a result, most upcoming technologies focus on making online experiences more lifelike. How will they do it?
Technologies in the Casino Industry.
The growth of the casino industry has attracted developers, investors, and many other stakeholders who want to reap from its upward trajectory. This interest has paved the way for the following innovations:
1 Live games:
What’s one thing that players enjoy about playing casino games? While those playing reel games like slots enjoy some solitude, many players enjoy being around others. Take poker players as an example. The game is even more involving when you can see your opponents. It makes it easier to call their bluffs, learn their patterns, and score more wins. However, online players could not enjoy this view of the competition for a long while.
The scenario has now changed with the introduction of live games. In these, players can join live games with players from around the world. Their screens give them a full view of the other players, enabling them to read facial expressions. This technology has also made online games much more social, as players can interact with others through video and audio chats.
And best of all - players can still enjoy the games without leaving their homes!
2 Virtual Reality (VR):
Live games have solved a problem that has plagued the online game industry for a long time - solitude. But players will be in for another amazing surprise once more sites introduce VR to their games.
This technology allows people to adorn avatars and interact with others in a virtual setting that integrates the physical and the online worlds. As such, while a player will be at home, the VR headset will allow them to interact with the virtual casino setting. In it, they can play games, talk to other players, share virtual drinks, and listen to music. It will be like visiting an actual casino, minus the dress codes and commutes.
Already, some sites have introduced VR games and seen a positive response from their players. Based on the demand for these games and the need to make games even more immersive, projections show that more sites will have adopted this technology by 2030.
3 Blockchain technology:
Online casinos changed the casino world in two ways - they moved transactions to the online space and also necessitated casinos to monitor players online. This migration came with challenges that online casino operators hope to solve through this technology. But how?
· Fair Gaming: Casino operators and players interact based on trust. Players trust that the RTPs, payouts, and other factors remain the same from the minute they place a wager till they get their payout. And on the other side, operators trust that the players will not interfere with the process. For a long time, there was no way to verify if each party kept their word. But now, blockchain technology has introduced a way to keep each other in check - transactions can only change if both parties accept the tweak.
· Secure payments: While casinos have adopted TSL and SSL encryption to secure transactions, players have often requested simpler and more secure payment methods. And how better to do this than by adopting virtual currencies? These fast payment solutions also offer anonymity and affordability, making them an excellent option for players who want to increase their rates of return.
Blockchain technology has a lot more to offer casinos and will feature more in the coming decades as people inch closer to decentralised systems that instil fairness and security in the gambling sector.
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