Tech processes have undoubtedly contributed to simplifying and enhancing the productivity of virtually every area of our society, but debating which industry benefited the most may be a stretch. Yet, we cannot deny that the gambling industry has been one of the biggest beneficiaries of tech innovations.
The online gambling industry has experienced notable evolution from the days of InterCasino — the first real money online casino in 1996 to the excellent use of technological trends now. These tech trends have solved the industry’s dilemma through upgrades like enhanced gaming and heightened security systems.
Innovations such as live dealer games have further played a critical role in the growth and acceptance of the industry. For instance, many blackjack lovers who love the physical casino experience but still prefer the security and anonymity of online gaming are now playing online blackjack with live dealers as it offers a hybrid experience that satisfies both gaming cravings.
Tech Trends Behind the Growth of the Online Casino Industry
According to research by PR Newswire, the online gambling market is estimated to reach $114.4 billion in 2028, with a compound annual growth rate of 10.9% during those times. This article will discuss the tech trends behind this success.
- Blockchain Technology
Blockchain is the foundational technology behind the functioning of cryptocurrencies. It allows the electronic exchange of assets and money while making unalterable records of those transactions. This means external factors cannot change or influence these records.
In online casinos, blockchains are used to make crypto transactions between the platform and the user. In the past, gamblers were limited to transacting with fiat currencies through traditional payment methods, which made players vulnerable to cyberattacks and loss of personal information.
Well, not anymore. Gaming platforms now use cryptocurrencies such as Bitcoin, Ethereum, and others to offer their players a safer payment system and a secure gaming environment.
- Mobile Gaming
The availability of mobile devices means gaming platforms have easy access to mobile users. The online gaming industry has tapped into the smartphone-users market with the production of mobile games. Players using smartphones and tablets can access quality gaming services like every other player with laptop computers.
This has dramatically promoted casino games, as access to varieties of mobile games with excellent graphics, arrays of titles to play, quality audio effects, and different themes has appealed to mobile users. With mobile games and apps, smartphone users don’t have to visit a land-based casino or online casinos to access their favorite titles; they only need a phone and an active internet connection.
- The Internet of Things (IoT)
The internet of things (IoT) describes the connection of a network of devices, including laptops, smartphones, and tablets, to the internet for data exchange and collection. Simply put, the capacity of a range of devices with the ability to process and the technology to merge with other devices is known as IoTs.
Many companies use IoT to improve productivity by gathering data on their operational business. This tech innovation has helped online casinos sharpen their data use to please and impress their customer base. They implement IoT in tracking players’ behavior to know the kind of offers they prefer and predict their reaction to these offers, creating a unique personal experience for every player that visits their site.
- Artificial intelligence (AI)
Artificial intelligence is the peak of technological improvement in the iGaming industry. AI is the technology that implements machine-learning systems to interact with people in a human-like manner. With AI, machines can converse, learn, solve problems, reason, and showcase an atom of social intelligence.
The online gambling industry has found numerous ways to experiment with AI to gain notable results. For instance, these platforms use AI as a gauge range by identifying negative gambling patterns from players who do not know when to stop playing. This helps them detect gambling addiction and helps players keep to their limits.
Online casinos use AI to gather and translate the platform’s database for easy operation, predict players’ preferences, and improve customer relationships. They also use these intelligent machines in areas such as automation, voice recognition system, marketing, and customer service relations.
- Diverse Payment Methods
The availability of several payment options has created a flexible gambling environment for players. With the increased transaction options, gamers can choose any convenient method to make deposits and withdrawals. This generally makes gambling easier.
There are traditional payment methods like MasterCard, Visa, and wire transactions. You can also use e-wallets such as Skrill, PayPal, and Neteller. Many platforms now offer Bitcoin as a form of payment and withdrawal. The upside is that you can choose between any of these diverse payment methods on any site, which is an excellent option to have.
The consistent improvement of the iGaming industry through technological innovations has set the trend for many markets to follow.
Online casinos strategically utilize tech advancements like the Internet of Things, Blockchain, and mobile gaming to maintain relevance with their customer base and break new boundaries.