The iGaming industry is probably the fastest growing industry nowadays with prospects of reaching yearly revenue of 29.3 billion euros in 2023 in the European Union only. Especially today, with the global outbreak of the Covid-19 virus and shutting down of land casinos, iGaming revenue skyrocketed. Just for April 2023, it reached 130.2 million dollars in just three US states (Delaware, New Jersey, and Pennsylvania) This amount of popularity iGaming owes to one thing, and one thing only, technology.
What is iGaming? The iGaming represents investing some money or other value to bet on the outcome of sports events, playing poker, or some slots via internet connection. Since the humble beginnings in 1994, the iGaming industry rose to a market value of around 40 billion USD annually. The main advantage of iGaming over land casinos is in the fact that there is no time-wasting, and you can gamble on all the casino games from the commodity of your own home. That is possible by using high information technologies. Many things improve customer experience in iGaming, and technology has credits for each one of those. You can get familiar with some of the high technology used to everyone’s enjoyment on www.slotsup.com.
The very first technology helping iGaming is the development of the internet without whom none of the other advancements could exist. In-play betting was the first breakthrough that gave iGaming the advantage in customer experience because you can see how the game develops and change your mind on what you want to put your bet. The engine of the game gives you all up-to-date info about any single event or table you want to play, such as the latest scores and the latest odds for all available bets. Some of the newest technology improved gaming experience for iGaming customers. Those technologies include artificial intelligence, virtual reality, live betting, blockchain, quantum games, or mobile apps.
Imagine watching an NBA game via virtual reality headset and bet Artificial intelligence represents one of the first things customer experience when entering an online casino website. This interaction can attract that customer to come back or not, so this is one of the crucial technological advancements used in iGaming. Artificial intelligence plays a big part in all sorts of ways in iGaming, where you can play a game of poker against AI or see the latest sports events predictions calculated by AI. Also, there is always a live chat possibility for some simple requests made by players, and AI can also be customer support.
Imagine watching an NBA game via virtual reality headset and bet on any particular player scoring his next shot from the exact position you choose. This feature is enabled thanks to virtual reality. VR can also play a part in casinos where you can have full casino experience from your living room. You can sit on the real table and see to the real dealer and even chat whit other players who can be thousands of miles away from you. And you can always walk away from the table and go to the next one.
Live betting has become quite common in most of the iGaming industry, and it is safe to say for any casino wanting to be modern that live games are a must. If you can not provide basic in-game betting, you are not a modernized casino in these times. The possibility to bet on every single event at the same moment was once cutting-edge technology, and this example shows just how much the iGaming tech progressed through the years.
The general opinion in the iGaming community is that the next revolution in this technology is in blockchain because the security of your data and funds is not something you should gamble. Blockchain offers transparency with payouts, so there is no reason in mistrusting the casino offering this feature, but also can offer anonymity to costumers who don’t want their winnings to be public. Also, blockchain technology doesn’t have the point of entry, so hackers can’t attack it.
Is there anything that can replace the joy of winning a hand in a crowded casino? Quantum games are similar to land casino games but via the internet and in-home environment. You can have all the benefits and thrills of regular games and even celebrate with other players because although there are so many advantages in iGaming, people love the interaction with other players, which you have with a live chat option. Also, you can play games without cards, like a monopoly in the latest 3D graphics environment where you can bet on yourself to win and take the money.
Casino mobile apps became the easiest way to place some bet from your home, work break, or even while in the subway. Online casinos wanted to approach younger people in mid-twenties, which are known for using phones more than computers, so casino apps where logical steps. Some researches show that casinos offering mobile apps have more revenue than casinos not offering this feature.
The technology already changed a lot in the betting world, and iGaming these days became more popular than ever and slowly wins the battle against land casinos around the globe, but what lies ahead? There are so many ways to improve iGaming, and the future can be even more exciting.
There are so many improvements possible in VR technology, and we can expect a lot of progress in that area soon. Especially because younger online betting customers grew up on skill-based video games, and they want to continue playing those games and earn money that way. There is no better way to win money than playing great storylines with amazing characters with cutting edge quality graphics. Also, with 5G technology already implementing all around the world, you can expect progress in mobile apps from well-known casinos.
The iGaming already established itself as one of the industries of tomorrow, there is much more the future can bring. There are no signs of technology slowing down, so we can expect to be amazed. Although the trends are changing, some of the features from casinos are timeless, but with the latest technology, iGaming made these features much more pleasant for customers.