Over the last three decades, land-based and online gambling has taken an incredible leap forward in both the development of new technologies and the creation of new games.
Many industry experts speculate that the gambling markets have reached their peak performance, but it turns out that there are many opportunities with untapped potential that are waiting to be developed. In this article, we will take a look at the latest technological and market trends that will decide the future of the gambling industry.
The First Step Is Taken Through Mobile Technologies
When smartphones with decent hardware became relatively affordable to the general public, the world saw an upward spike in users playing mobile games. This, of course, included the many online casinos that offered their mobile-compatible services.
Many skeptics thought that mobile online gambling would “fizz out” like a short-lived trend, but in fact, it was quite the opposite. Numerous sources speculate that as much as 51% of all online casino players are using their mobile devices as their preferred gaming platform.
Virtual Reality and Online Gambling
Gambling itself is an interactive experience. The industry is looking for new ways to improve its current technological base in order to increase and amplify that experience. One of the most promising trends that have just taken their baby steps are virtual and augmented reality. Banking on the “immersion effect,” a handful of online casino developers have already presented a prototype of their “virtual casino grounds.”
The only reason why it hasn’t kicked off just yet is due to two things – the high production costs of the gaming software, and the expensive hardware that people need to possess in order to experience them. Perhaps in a decade or so, the technology will be as affordable and widespread as the gambling industry hopes it to be.
Some Setbacks in Progress Are Natural
During the rising mobile craze, software developing companies did appear to take a “step back” when they started experimenting with games that were meant to be played on wearable devices such as smartwatches. Naturally, this proved nothing more as a “one-time novelty experience.”
Due to the physical limitations of wearable technology, the introduction of new casino gaming titles proved to be an unfruitful one. Although considered to be a mistake by many, the trial and error principle is important to the gambling industry in order to achieve true evolution.
Upcoming Opportunity with New Technology
With the “shy” release of foldable phone technology, gambling software developers have started a frantic brainstorming session. As every new piece of tech, foldable screen mobile devices are still far too expensive to be used by the majority of online gamblers; however, there is no doubt that there are already strategies put in place, waiting to be executed when the technology becomes affordable.
Cryptocurrency Will Play a Major Role
Today, more and more casinos worldwide introduce Bitcoin support as one of their banking methods. Because many jurisdictions are cracking down on banking providers that facilitate gambling payments, casinos have started moving to a decentralized means of payment – such is the cryptocurrency.
It won’t come as a surprise that in approximately ten years, online gambling venues will conduct business exclusively via crypto such as Bitcoin, Litecoin, Monero, and others.
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The Future of Gambling Is Coming Sooner Than We Think
While land-based gambling takes a few small steps to improve its technological base, it is the online part of the industry that flies at the speed of light. Just as the hardware improves, so does the software – browser platforms today are capable of running much more complex processes at nearly the same resources that were used for games from previous generations.
Whether it is in the field of sports betting or online casino gambling, the industry has no choice but to evolve even further. Although we can speculate as much as we want to, it will still be an interesting experience to see how people will be placing a wager in 20 years!