Did you know that 17 percent of the world’s population enjoys online gambling? This industry is quickly changing and growing.
With the steep competition, it’s necessary for businesses in this industry to constantly evolve as well. Therefore, it’s important to know what’s changing and what current trends are.
Technology has driven a lot of change in this industry, and some of the changes might surprise you. Are you ready to learn more?
Keep reading as we explore how technology is changing the online gambling industry.
The Speed of Connection
In the mid-1990s, online gaming sites began to appear on the internet. For those of you who were not alive or too young to remember this, during this time, gaming online wasn’t always easy.
You had to wait for your internet to connect, and high-speed wifi was not a thing. Phones were not smart, and the internet did not follow you everywhere you went.
However, people prevailed, and despite connection issues, online gaming sites continued to grow. In 1998 and 1999, two popular online poker gaming sites were released.
These sights grandfathered what would be called the “Poker Boom” from 2003 to 2006 when the number of players doubled yearly. It’s important to note the years the Poker Boom took place.
A little more history, in 1999, wifi was introduced for home use. From here, the internet took off even more as people were able to connect with ease. Gone were the days of listening to your dial-up internet screech as it attempted to connect (now there are just TikTok videos to remind us of those days).
This is an example of how technology impacted early online gambling sites. However, it’s important to understand the history so that you’re able to better able to understand modern changes.
Enter the Mobile Phone App
The changing face of internet-fueled growth in the online gambling industry. However, while expanding capabilities online and while the internet made it possible, phones changed the game altogether.
As phones become smarter, it didn’t take long for the big names in online casino games to realize they would have a new market. Because of that, they worked to develop and release early mobile casino games in 2008 quickly.
Now you can find a wide variety of online casinos that offer mobile games as well. For example, the best online casino in Canada, Jackpot City, offers mobile games and online games. If you want to stay ahead of the game in this industry, you must meet your customers where they are.
With 2.7 billion mobile gamers worldwide, the mobile app industry is essential for online gambling. Gone are the days of people hiding in basements and not wanting anyone to know they’re gambling online. Today, people will play anywhere it’s convenient, as long as they have their phones.
Another important technological advancement to address is blockchain technology. Currently, fiat currency is still the most popular currency for online and physical casinos. However, this is changing.
Crypto provides the safety that you don’t get when you’re using fiat currency. It’s much more difficult to hack this type of currency. However, there are also perks for casinos when it comes to crypto. Studies back up the fact that crypto is more secure and less likely to be fraudulent.
Because of this, many casinos are beginning to accept and even encourage the use of digital currency.
Another up-and-coming technology is virtual reality. Virtual reality games are becoming increasingly popular because they offer an immersive experience. They’ve allowed people to “escape” from the real world.
At times this escape is very much needed, especially during the days of the pandemic when everyone was stuck at home. However, the potential to take online gambling to a new level exists within this space too.
If you’ve ever been to a casino, you’ve likely experienced the fun and the high of the experience. With the crowd rustling around you, the sights, sounds, and drinks, it’s all very intoxicating.
You lose a little bit of that lustre when you play on your phone or computer. However, virtual reality can bring some of that experience back; from rolling the dice to your surroundings, you can immerse yourself in a new world and feel like you’re at a lavish casino without leaving the comfort of your home.
Artificial Intelligence (AI)
AI plays a few roles in the online gambling world. It can help create better algorithms and improve customer experience. It can also get used the help with identifying problem gamers. Overall, using AI correctly can help to improve the customer experience within the game.
However, while it’s easy to think of how AI can help within the games, it’s important not to forget that it can get used to help with other aspects of an online casino as well.
For example, AI can be used to help with customer support or with detecting and preventing fraud. People in the online casino industry need to be aware of these trends and be open to using AI to continue to expand and evolve.
It’s no secret that there’s been a rise in cyber attacks over the past few years. Sharing your information online can feel frightening when you have to worry that someone will turn around and steal that information.
Fortunately, more and more solutions are becoming available to keep you and others safe. Cyber attacks are on the rise, but so are the solutions to keep those attacks at bay.
This is changing the trends because gamers want to know that the site they choose is safe. Therefore, it’s important for online casinos to inform their consumers of the steps they’re taking to protect their information.
Stay On Top of Technology Trends
Changes in technology are fueling the online gambling industry, but that should be no surprise. This industry was born due to evolving technology and will continue to grow because of it. Stay on top of these growing trends and let them work for you.