The Future of Online Gambling
May 4, 2020
Online gambling did not start off as a hit. In fact, by the 1990s, there were only a few sites where players could enjoy online poker. Then it was still fairly new and the people that tried it were only the diehard players.
However, the online gambling industry is worth more than $90 billion at the moment. There is also a prediction that the industry will be worth more than $102 billion in the next 5 years, with an expected 11% growth every year. Something that was just a niche has now turned to the mainstream just within 25 years.
Part of the reasons for this growth is the rise in competition, and with that came the need for this competition to create more lucrative and enticing bonuses, which they still do to this day – for example you can now get 500 free spins at BGO casino if you’re a new customer.
Another part of the growth witnessed in online gambling is driven by advancement in technology. The industry’s exponential growth could be tied to the internet and smartphones. Because of this, most of the online casinos are always on top of the new innovations in technology to see if it will hand them an advantage over the competition. Below is a list of the trends that would be impactful on online gambling in the future.
Out of all online gambling revenue, 33% comes from mobile gaming. This figure is expected to increase in the near future. The power of devices is increasing by the day and developers are trying to come up with games that push devices in the area of graphics. In a short while, there will be 2 versions of every game coming out – the pc and mobile versions.
This has been in place in the majority of games out there, and will continue to be the trend. The arrival of the 5G network will be a huge advantage to mobile gaming. The super-fast connections will make the wireless internet run at the same speed as land based networks and with this, the biggest problem with mobile gambling – which is a slow internet connection – will have been overcome.
Bigger Games Selection
Whenever the competition is huge, it brings out the best of the best. The competition in online gaming is becoming huge and pushing developers to give their best. With this, players enjoy better content. In the gambling industry, there is a very fierce competition.
It seems new and innovative slot games from developers are released by the casinos every other week, so as to keep the players satisfied.The innovations on these games are far beyond simple interface and graphics. They also come with increased bonuses and new ways to win. Some also improve on their RTPs and players get to enjoy new and exciting games due to these benefits.
VR and AR
Virtual Reality and Augmented Reality has been on the table for a very long time but the gaming world has not taken full advantage of them – this is because they are still very expensive systems.
Because of this, most of the developers have halted on developing games that support these systems. This in turn has also prevented the makers of VR/AR gadgets from selling in huge quantities because there are not many games that run on those. Because of this, the cost hasn’t come down.
However, there is an indication that the boom will soon come and the jinx will be broken. We are expecting the arrival of quality games and a huge reduction in the price of VR and AR hardware to bring about a huge number of AR and VR gamers in the near future.
The Rise of Blockchain
Due to numerous advantages of blockchain payment, it’s going to dominate the online payment sector very soon. The speed, security, and anonymous nature of this makes it a preferable option for all.
It can’t be hacked since the only accounting tool is the shared ledger. People can view the payments, but can’t see anything about the details of the sender and receiver. This means that while people can verify payments, they cannot verify details of those involved. So, there won’t be any fear of people getting hold of your account statement and there’s no banking fees here. It’s also a cheaper and faster payment option, as you won’t have to spend days waiting for your money to clear.
With all these factors, online gambling will soon take a new shape. Players will have a lot to gain by playing games even when the immersion level is taken higher by the AR and VR systems. Issues of problematic payments and fixed games would be taken care of by blockchain, while the 5G network will give the games to players as the developers want. With all of these developments, online gambling really has a bright future.