The online gambling industry has undergone lots of transformations in the recent past. This is attributed to technological advancements in the 21st century.
According to American Gaming Association Commercial Revenue Tracker research, sports betting generated $3.16 billion in 2021. This is a 230% increase from 2020. The same increase is expected with states continuing to legalize online gambling. The online betting industry is predicted to reach $100 billion by 2026.
Here are the top trends transforming the gambling industry in the online world.
Ease in Determining Gambling Site Quality
Determining gambling site quality is never easy due to strict criteria. The use of Reddit has made it much easier for punters to assess gambling site quality. Reddit is an online forum where members discuss thousands of issues, including online gambling.
Punters can easily understand the Reddit online casino site recommendations by digging through the thousands of threads, comments, and posts. You can examine subreddits like r/onlinegambling, r/sportsbook and r/gambling to help cover as much ground as possible while determining the qualities of gambling sites.
Cryptocurrency to Dominate Gambling World
Cryptocurrency is expected to dominate the gambling industry. More online platforms are accepting cryptocurrency as a payment method.
For several years, online gaming has been frustrated by high fees associated with loan refunds, bank transfers and e-wallets. Cryptocurrency is quickly replacing the old payment methods since most punters prefer remaining anonymous and untraceable when playing the online real money games.
The high security levels use of cryptocurrency offers in iGaming makes punters feel more relaxed due to reduced hacking cases.
Increase in Live Dealers
The modern technology that revolves around a reliable and fast internet connection is behind the increase in live casino games’ popularity.
Punters prefer the convenience of playing live casino games straight from their homes. They enjoy the live and real deal, which is why they got into gaming. More online casinos opt for this information to help them gain leverage for their online sites’ benefit. Live casino games have successfully substituted brick-and-mortar games without the fear of poor customer experience and lag.
Smartwatches Bringing New iGaming Experience
Punters can now place bets via smartwatches, taking over tablets and cell phones. According to predictions, the smartwatch industry will be worth $33 billion by 2023, with gambling behind this tremendous growth.
Wearable technology will continue to be famous, and more software developers will develop new games that integrate well with smartwatches.
Improved Visual Experience
The aesthetic experience online casinos offer their customers continues to grow, with the trend set to continue. Software providers and developers are improving online casinos to bring them at par with the cutting edge. Punters are getting high graphics and life-like experiences.
Online casinos use virtual tables and live dealers to help add the live aspect to the punters playing from home.
Quick Transformation of Consumer Habits
With almost every person owning a mobile device, social and mobile gaming has hugely affected online betting. Most people opt to use their mobile phones for gaming. This has led to an increase in free-to-play game products across the globe.
Free-to-play games do not make profits directly and are mainly considered entertainers. The games still generate revenues in different ways. For example, players pay a small fee to upgrade their game to access more features.
The players also pay a small amount when purchasing different game products and virtual offerings to help improve their game experience. This indicates how mobile users are willing to spend just to have fun. It is an opportunity casino can use to boost their revenue.
Development of New Table Games
Games like poker and blackjack require a certain mastery level to play well and increase the chances of winning. Unfortunately, not all have mastery levels; hence prefer games that are relatively easier to learn.
Casino developers are coming up with new table games thanks to technological advancements. This explains why there has been an increase in interactive gaming systems.
Most punters are bored with casino games because they appear alike. They assume the games have the same visuals and effects.
Online casino operators are now using virtual and augmented reality technology to help make gambling more enjoyable. With technological advancements, players can take themselves in a virtual gambling world.
Most online gambling platforms already offer virtual reality and augmented reality casino games. Punters enjoy realistic gaming using headsets.
Slot Machines Upgrade
With casinos attempting to attract the younger generation, the industry has started incorporating slot machines well-equipped with skill elements. This move eliminates boredom as developers offer interactive slot gameplay.
As a result, casino operators with these games have the edge over their competitors thanks to their ability to retain existing customers while attracting new ones. Upgrading the slot machines means creating something fresh and new.
Access from Restricted Areas
Some countries associate the gambling industry with lots of negativity despite it being a good source of tax revenue.
Punters are finding it more difficult to control their gambling habits as the industry grows. This has made many countries regulate gambling to discourage addiction and fraudulent activities. For example, gambling is a punishable offence in countries like Qatar, Cyprus, Poland, etc.
Playing at offshore online casinos or using VPNs helps you gamble safely in restricted places. The VPN will help change the players’ location. Playing offshore online casinos involves gambling at casinos in countries without gambling restrictions.
Boredom has never been an option with the ever-evolving technology. Watching how the gambling industry is transforming to offer a wide range of games and levels to players with different abilities is marvelous.
Whether real or online, operators aim to offer customers the best gaming experience. Apart from rewards programs, customer service, incentives and fine dining, developing the best gaming entertainment is the primary motivation. The land-based casinos are feeling the heat from online casinos and have reduced in popularity in the recent past.
The trend is mixing the latest technologies and the best interactive online gaming systems with traditional casino ideas.