Online gambling trends: What’s in store for the casino gambling industry?
The online gambling market is constantly on the rise, and the advancing technology has more or less been like a stepping stone in its growth.
Technology is at the forefront of the advancement of human civilization. Much has changed in the last few decades in terms of technology, may it be radios, computers or smartphones. Same’s the case with gambling, which used to be a physical operation that was limited to a select few places like Las Vegas, also known as the Mecca of gambling.
That’s not the case anymore because gambling has managed to transcend into a virtual platform for everyone to enjoy. The advent of online casinos has brought forth new avenues for gamblers and best casino sites alike and new modes of payment modes like Paypal casino or bank transfers. Today, just about anybody can indulge in casino games provided that he or she has a method to access it and has a stable internet connection.
If one goes by stats, online gambling has risen tremendously to the tune of $42.5 billion in 2018 from $35.6 billion in 2015. This revenue was estimated close to $23.99 billion in the year 2011. (Courtesy of H2 Gaming Capital Consultancy). Also, more than 85 different countries worldwide have legalized online gambling. This trend is on a rapid rise across Asia, Australia, North as well as South America.
The stats presented here are more or less an indicator that the online gambling industry is growing at a rapid pace and is here to stay. In this post, we shall check out some online gambling trends and what’s exactly in store for this multi-billion dollar industry.
Live Casino Gaming
Live Gaming is a new trend that has picked up the pace in recent years. As of date, 45 million people in a month are playing different casino titles or watching others perform. A few years back, only a handful of online casinos were in the picture offering a handful of games. Unlike standard games where there is no interaction, and all you are doing is placing your bets and hoping for the best returns.
Live Casino offers you a chance to play against other real-life opponents and an option to chat with both croupiers as well as your fellow players. It’s almost like being in a real casino playing with real-life players. today, online gambling has become all about providing realistic experiences, and the coming of age of live gambling has finally made this possible.
Why should live gaming be the only option available for potential gamblers? The rise of Virtual Reality software today like the Oculus and Valve Corporation are making serious headway in the domain. If the VR market is able to sustain itself, the potential we are looking at is endless. This could possibly change the entire gaming scene as we know it.
There is already news that many gaming companies are experimenting with this technology. Microgaming was one of the first companies to release its Virtual Reality Roulette demonstration at ICE in the year 2016. VR in casinos would definitely amp up the gaming experience and help in the retention of customers for a better gaming experience.
Until now, online casino games are more or less about luck, but skill-based gaming takes it a notch further. Here you place your bets based on the game and the skill level of a player. Gamblers also have access to the scoreboard over here and see the leaders and their best bets.
Game developers are already focusing their efforts into making more skill-based games that require more than just luck to win them. This is meant to target new gamblers who are looking for more challenges in the titles they play.
Cryptocurrency is the talk of the town everywhere you go so it didn’t really come as surprizing news for players when casinos decided that they would now make it easier for one to gamble with the help of cryptocurrency. The only argument made against cryptocurrencies like Bitcoin is that it is virtually untraceable and therefore cannot be traced back to its source which can most likely make it laundering or black money unlike normal.
However, casinos are looking at the bigger picture here, and quite a significant portion of the gambling population even makes use of cryptocurrencies today due to its transparency and no financial regulations involved. Currently, apart from Bitcoin, there are currencies like Dash, Ethereum, Ripple, Dogecoin and Litecoin options available to some casinos. This number could grow exponentially in the years to come.
Mobile-based casinos have become an important prerequisite for players. In 2016 alone, revenues from mobile-based gaming have managed to surpass PC gaming and consoles. Mobile gaming has managed to generate $36,9 billion as compared to PC that made $31.9 billion and consoles that only made $29 billion.
With the introduction of new smartphones with better technical advancements in smartphones, improved graphics, the future of mobile gaming definitely seems to be headed in the right direction and the coming years.
Gambling Rules and Regulations
This might not seem like a major trend, but online gambling is still in its infancy. The introduction of more regulatory bodies has somewhat helped the growing need of the hour that calls for the implementation of tighter controls and stringent rules. Online casinos, as well as developers, will need to learn from shortcomings and adapt to the fast-paced changing gambling environment globally.
The online gambling market is constantly on the rise, and the advancing technology has more or less been like a stepping stone in its growth. The iGaming trends mentioned above definitely manages to show us a short glimpse of what lies ahead for this industry in the coming years.
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