Ever since its inception, the gambling industry has been investing a lot of effort into keeping up pace with latest technologies. Perhaps that is why the newest technological innovations are quickly embraced by casino operators, both on land and on the web.
It is easy to grasp how much today’s casino industry relies on latest technologies and it will likely continue to do so. That is why, in order to get a view of the future of the gambling industry, we should take a look at the technological innovations that are under development.
Below, we will discuss what the future of the gambling industry will look like. Keep reading to get a view of the future gambling industry.
1. Virtual Reality Gambling
According to report from Bonus Insider, Virtual Reality gaming is still under development and the technology that offers VR gaming is still considerably expensive. However, a survey conducted back in 2016 has shown that VR technology use within the gambling industry will increase by mind-blowing 800% by 2020. If this really happens, then the amount of bets placed whilst VR gambling could increase from £47.2 million 2017 to nearly £423 million by 2021.
Whereas it still undergoes development, VR technology has already become an important part of the video gaming and casino gaming industries. Curiously enough, a number of online casino operators have claimed they will embrace VR technologies as soon as it becomes popular among the mass public.
2. Artificial Intelligence
With roots similar to those of VR technology, artificial intelligence (AI) is also quickly becoming a widespread innovation. And, whereas we still know little about the future of AI in the gambling industry, we can expect this future to be bright indeed. In just three years, casinos might be suited with a team of AI croupiers.
According to experts, AI software provides a better customer experience and allows for a tremendous product personalisation. AI software can be utilised to collect data and produce a smoother and more pleasant interactions with players. At the very least, casino customers will no longer have to contact customer support staff that is clearly unhelpful.
AI software is likely to be embraced by the casino industry as it ha the potential to detect gambling addiction while it is still in an early phrase. AI software can extract data concerning a player’s gambling behaviour, thus effectively preventing a gambler from becoming an addict. Incidentally, a
study shows that AI is accurate in 87% of all cases where it has detected potential gambling addict gaming behaviour.
3. Cryptocurrency Gambling
Cryptocurrencies are believed the ideal payment option for online wagering as they provide unparalleled levels of anonymity and security. Cryptocurrencies are digital currencies stored in digital wallets, more commonly known as e-Wallets.
Interestingly enough, cryptocurrency gaming has already become a huge phenomenon and it is estimated that cryptocurrency gambling will become prevalent within the next five years. What is more, some operators have even dedicated their gaming establishment to a particular cryptocurrency, and that is why some casinos are Bitcoin-oriented, others Litecoin-oriented, etc.
4. Increased Popularity of eSports Betting
The eSports industry has been on the rise for the past several years and experts say it could generate as much as $1.5 billion by 2020.
eSports tournament are becoming more and more popular. For example, what started as a League of Legends championship with a pool prize of $100,000 and a little over 1.5 million viewers back in 2011 has grown to a global eSports tournament with a pool prize of over $6.5 million and more than 40 million viewers. The Dota 2 International tournament is another example of the rise of eSports popularity. The first Dota 2 International tournament has a prize of $1 million, whereas the 2017 prize amounted to more than $10.5 million.
Since eSports tournaments are quickly growing in popularity, experts believe they will become a major part of the sports betting industry in the near future.
5. Mobile Gambling
Mobile gambling has been growing in popularity for some time now. And, curiously enough, the industry has already outperformed PC gambling in terms of generated revenues – this happened back in 2016. On top of all, mobile gambling does not elicit a single sign that it will slow down any time soon. Simply said, the shift to mobile gambling is the inevitable future of the gambling industry.
Players love mobile gambling for its unparalleled convenience and range of available games. Another thing to take into account is that mobile gambling can easily embrace other changes in the gambling realm. That is why, with the growing popularity of eSports and VR technology, we can soon expect mobile VR gambling platforms to emerge in the near future.
All in all, the gambling industry has always been assimilating latest technologies – that is how gambling remained an activity loved by many.