How technology is going to power the retail and online casino industry in 2022 and beyond
Mobile gambling is just a part of the various types of digital technologies set to power the retail and online casino industry in 2022 and beyond.
Check out these statistics:
A recent study by The Market Research online publication reveals that the global gambling market will grow at a steady rate of 5.9% through 2022 to reach $564.5 billion in value.
On the other hand, according to PR Newswire, the penetration of online digital technologies enables the iGambling industry to spread its customer base. As a result, the online gambling and betting market alone will climb to a whopping $134.5 by 2027.
So, if you thought that the advancements in mobile technology are the only driver fueling the rise of online gambling, you are dead wrong.
Here are 7 technologies that will dictate the growth of the casino industry:
Up-to-date online casinos already have fast and secure online payment systems that revolve around e-wallets (such as PayPal, Neteller, and Skrill), bank cards (debit, credit, prepaid) and bank transfers, and now crypto-payment processors.
The best part about crypto-gambling with cryptos such as Bitcoin, Ethereum, and Litecoin, among other digital currencies, is that firstly you don’t have to give up any personal details, so your transactions can remain absolutely anonymous.
And secondly, unlike other online casino banking methods, iCasinos usually have no deposit limits when you are depositing using cryptocurrency.
The use of crypto payments is a new trend in the gambling industry. The online casinos that use this payment option are already light years ahead of their competition.
It will be a great idea to consider crypto-gambling the next time you go searching for an online casino to play at.
Virtual reality (VR) and augmented reality (AR) based online casinos
Forget the typical physically-controlled land-based casino or even the online casino games as we know them because VR and AR-based casino games are now a thing. These use VR and AR tools such as headsets, joysticks and wearables the likes of gloves and wrist devices enable casino game developers to create tangible elements and an immersive game experience far from the norm.
The resultant effect is a dynamic shift from the traditional online casino gameplay to a whole new dimension of a realistic, almost lifelike gameplay environment.
If you have a third eye for this kind of thing, you can already see VR and AR at play in the casino industry. Think examples of VR and AR technologies such as those from industry leaders like Oculus Rift, Samsung Gear VR, Sony PlayStation VR and Razer OSVR.
Moreover, online casino games developers are already deploying VR-based games. A case in point is the bigshot online casino games developer Net Entertainment (NetEnt) that already has a demo version of their soon to launch VR-based slot machine Jack and the Beanstalk.
Cloud providers are fast becoming the new game console. You’ve probably heard of online casino game networks. This type of online gambling arrangement especially rings true for casino titles such as progressive jackpot games, where you can participate in multiple jackpot games across different online casinos thanks to a network of online casino games.
With the rise of cloud computing, online casino software providers have access to more game development tools. That is to say, the interval between game design, creation and time to market keeps getting shorter.
Plus, more online casinos are adopting a cloud-based approach to delivering their gambling products and services. Consequently, you can now access games quicker regardless of your location as long as you have a stable internet connection.
It’s a leap from previous setups where downtime in the online casinos’ servers would affect players’ access to games and gameplay. Conversely, cloud-based online casino gaming platforms reduce the time it takes for you to launch and play games.
5G internet speeds
The best way to enjoy some online casino games such as slot machine tournaments, bingo, and live casino games is in multiplayer mode against your fellow players.
Couple the penetration of 5G internet speeds with the availability of cloud-based gambling websites, and challenges such as lagging and slow-loading casino games will be a thing of the past.
5G speeds are a significant growth from the predecessor 4G internet. What’s more, the latency on 5G is considerably lower at a speed of sub-10 milliseconds.
You can now add 5G internet speeds to your online casino site search criteria checklist of items such as seamless gameplay and premium graphics.
Live casino technology
There’s been a huge demand for live casino games in the recent past. The newfound love for live dealer casino titles has everything to do with the personable croupiers that replicate the experience of dealing tables games in real-time in a land-based casino.
Even better, some online casinos today are so advanced that they have the capacity to stream multiple live casino sessions simultaneously from different locations.
Live casino technology presents you with the unique opportunity to stake your real money bankroll on different live dealer games from virtually anywhere on the globe while connecting with other gamblers. It’s an online gambling phenomenon that’s a surefire way to captivate all the diehard punters out there.
Geolocation tracking technology
For those of you who don’t know, online casinos have what they call a defined market. So, each casino brand has borders within which it operates and runs its gambling services and products.
But you also have to acknowledge that the use of tools like virtual private networks (VPNs) and cryptocurrency banking options can easily enable you to hide your location and gain access to an online casino that you otherwise wouldn’t because of location-based restrictions.
Thanks to GTT, online casinos can now curb access to gaming services by players in locations outside of the casinos’ operational jurisdiction.
Advanced cyber security measures
Cyberattacks go hand in hand with technological advancements. Digital innovations in the retail and online gambling industry are no different.
It’s a good thing that the gambling industry operators stay ahead of cybercriminals by installing the now standard secure socket layer (SSL) online security cautions to protect your data and transaction information.
Additionally, cyber securities help online casinos to curb threats to online gambling platforms. Some of these eminent security breaches include:
- Distributed denial of service (DDoS) and ransomware attacks
- Phishing attacks, identity theft and fraud
- SQL injection
- Money laundering
It’s clear that a state-of-the-art online security system is just as important as all the other aspects of a top online casino.
You can expect to see more technologies hit the retail and online casino industries and partially or completely change the way you access and play online casino games. One thing is for sure; technology is an online gambling tenet that’s here to stay and one that you should always keep your eyes on.