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iGaming Industry growth sparks for more online gambling innovation

If there is one industry that has amazingly survived through the tough and changing times, it is the industry of gambling.

Now, people can enjoy the thrill and excitement of betting anytime and anywhere they want–all thanks to the technology of online gambling or iGaming.

The industry of iGaming had also seen huge growth since its earliest days. Only this year, online gambling–inclusive of casino gaming and sports, such as cricket betting–saw its biggest growth in revenue in a year. This can be mostly attributed to the effects of the COVID-19 pandemic, with lockdowns forcing people to stay at home and closing temporarily closing a lot of business establishments, including casinos and other gambling places. In fact, from a revenue of $58.9 billion in 2019, the online gambling industry is expected to grow to $66.7 billion in 2020, with a growth rate of 13.2%.

With the growth of online gambling, how can it innovate further? What are some of the future things that players can look forward to in this industry? Here are some of them.

More use of blockchain technology

When you speak of blockchain, one of the first things that would come to mind of people would be cryptocurrency or more specifically, Bitcoin. Although BTC and other forms of crypto are indeed based on blockchain technology, it is way bigger than that.

Using blockchain technology, online gambling sites and apps can facilitate deposits and withdrawals faster and easier with less to virtually zero transaction fees. This would essentially mean better handling of overall finances in online gambling.

More virtual reality gaming

Virtual reality became a big hit in the world of gaming in the past few years. Sales of technology like VR headsets for consoles, PC and even smartphones skyrocketed as more games that support VR got developed.

Although still not as big as you would expect it to be, a VR casino is already a thing, and it would let you experience “walking” into a virtual casino and playing on it as if you are in a real casino, all thanks to the VR headset that you would be using. In the coming years, it is expected that VR gambling is one of the technologies that would be more mainstream.

Better and smarter AI

One of the most common concerns of people about online gambling is that there are rampant cheating and rigging activities in online gambling sites. However, it has long been established that only unregistered and unlicensed betting sites or apps tend to cheat you out of your money.

Regardless, it is still a comfort for many people to know that technology now makes it possible for their online gambling experience to be cleaner, safer, and fairer than ever. This is possible using advanced AI.

Artificial intelligence can play a lot of roles in the world of online gambling. When it comes to the game software, it can serve as the key to implementing a better and smarter RNG system. When it comes to providing support and customer service to players, AI can play a vital role in giving the needed support to players faster and more efficiently than how it would usually take.

Final thoughts

The world of gambling had gone a long way, thanks to technology. However, it is not yet the end of the road for it and in fact, an end is nowhere to be seen at all. As technology continues to grow and advance, so does the world of online gambling. What those advances are–only time can tell.

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