Technology has radically altered our daily lives. It has also transformed numerous industries, including iGaming. Nowadays, it’s possible to find multiple helpful resources when Googling how to gamble online, connect with fellow players through social media, and access virtual platforms with extensive game catalogs.
Developers and providers have been catching up by adopting technological innovations with the purpose of enhancing the virtual gaming experience. Consequently, players can now engage with their favorite games and place their wagers from their laptops and smart devices anytime, anywhere.
Such innovations have contributed to the unstoppable growth of iGaming, which was projected to rise to $81 billion by 2022 at a compound annual growth rate of 10.4%.
In what follows, we discuss the technologies that are revolutionizing the industry.
Cryptocurrency is a virtual currency that is secured by cryptography and is not issued by a central authority. These decentralized currencies are based on blockchain technology, which is a shared database or ledger maintained across a peer-to-peer network of computers.
Online casinos are progressively allowing their customers to deposit, withdraw, and play using various types of cryptocurrency. Therefore, players can use Bitcoin, Ethereum, Litecoin, or any other cryptocurrency supported by the platform.
Gambling with cryptocurrency offers several advantages; from higher levels of security to lower fees and more privacy. As it is a decentralized currency, players cannot have their Bitcoins or Litecoins taken away from them, nor have their accounts frozen. In this sense, cryptocurrency allows for more control over transactions.
You may have gone to the cinema and watched a 3D movie using special 3D glasses. Nowadays, it’s possible to access 3D experiences at virtual casinos as well. The latest slot machines, for example, contain 3D graphics, showcasing high-quality spinning symbols and characters that jump off the screen.
In addition to realistic and eye-catching graphics, 3D slots include creative narratives and engrossing soundtracks. Together, all of these elements make for a more entertaining and immersive experience.
Virtual reality (VR) uses technology to create simulated environments where scenes and objects appear to be real. This environment is visible through a device known as a virtual reality headset. Sensors, gloves, and body suits also allow for immersive simulations.
Virtual reality has been applied to numerous industries and fields, including medicine, architecture, art, sports, gaming, and iGaming.
In the iGaming industry, VR is used to create virtual casinos where players can assume an avatar and partake in a specific gameplay. What’s more, through VR, it’s possible to participate in special events like tournaments.
Whilst augmented reality (AR) is often used in the same context as virtual reality, the concepts are not interchangeable. Simply put, AR is a type of immersive technology that juxtaposes the real environment experienced by users and virtually fabricated elements. Whereas VR is completely virtual, AR uses a real-world setting. It’s possible to engage in AR by merely using a smartphone.
Ever since its introduction in the 1990s, AR has been implemented in the fashion, healthcare, aerospace, and gaming industry. In the iGaming sector, augmented reality has been introduced to bridge the physical experience and the digital world. For instance, live dealer games can be played by using smartphones or tablets.
Artificial Intelligence (AI) has made waves in several industries over the past decades. This area of computer science employs intelligent machines to perform tasks and react in a similar manner to human beings.
AI has greatly influenced the iGaming industry as well. For instance, in January of 2017, the AI known as the Libratus beat a team of professional players in thousands of Poker rounds.
However, AI has numerous other uses to improve customer satisfaction and safety. When contacting a customer support representative, a chatbot will likely help you find the best solution. AI can also detect fraud and unhealthy playing patterns, and offer a more customized gaming experience based on personal preferences.
Several online casinos offer a “live streaming option” that allows players to broadcast their play sessions in real time for an audience to watch. Platforms like YouTube and Twitch have gained traction with gamblers too.
From 2019 to 2021, the number of casino streaming hours watched increased by more than 100%. One of the biggest reasons behind live streaming’s popularity in the iGaming sector is the proliferation of video content online. Players are interested in acquiring real-time experience that immerses them in the game without having to spend their own money.
The popularity of live streaming has enormously benefited content creators, with channels like CasinoDaddy, ClassyBeef, and AngelMelly surpassing the 100.000 follower mark on Twitch.
In recent years, we’ve witnessed an astronomic rise in the number of cyberattacks and privacy breaches. Passwords, which are meant to help protect users’ privacy are highly vulnerable to these threats. Users tend to use weak and/or recycled passwords, which makes it easy for cybercriminals to get a hold of others’ sensitive data.
Virtual casinos are implementing two-factor verification (2FA) for verifying their customer’s identities and improving security. In order to access their accounts, users must provide their credentials using two different methods.
The iGaming industry is keeping up with the latest technological innovations and evolving as a result. The adoption of cryptocurrency, 3D graphics, virtual reality, augmented reality, artificial intelligence, live-streaming, and two-factor authentication is providing more immersive, engaging, and secure experiences for users in the web sphere.