Spectacular trending growth patterns across iGaming continue after 2021’s Q4 financial results pouring out across online gambling news outlets. Industry-wide reports reveal multiple gambling tech companies divulging huge revenue hikes.
One of the contributing factors being touted as the backbone to the stability of iGaming even after financial depression from the global pandemic, is the formidable tech advancements within the industry. Gambling companies with online operations across Europe, Africa, Asia, North America, South America, and Oceania are still firing on all cylinders and its easy to see why.
iGaming describes online casino, poker, bingo, live casino and lotteries. Virtual sports betting games can also be categorized as iGaming in some instances. Underneath each of these verticals are niche casino game categories and they are all showing successful growth patterns with the USA one of the fastest growing markets since legalization of online casinos in 6 states so far as per casiwoo USA. However, which technologies are changing the iGaming industry in order to attract a more diverse player base?
Virtual Reality (VR) Online Casinos
Years ago, before smartphones and touchscreen tech, there was a rumor that smartphones would be the new trend in our lives. Mini touch screen computers inside our phones. Yet, no one really quite believed it would happen at the time. Fast forward to today, and most people can’t live without one.
This is exactly the same scenario that is happening with Virtual Reality (VR). We are only just beginning to get a whiff of it, and many still don’t quite believe VR will become the new norm, but like it or not, virtual reality will soon become part of our day-to-day reality. And you can bet your last dollar that with it will come a flurry of virtual online casinos. In fact, there are already VR casino games such as Gonzo’s Treasure Hunt by Evolution, and a line of virtual casinos getting into the market early.
What’s more is that VR is already a contributing growth factor in the iGaming industry simply because VR fanatics are now finding online casino gaming more appealing through their VY headsets.
Artificial Intelligence (AI) & Other Software Designed to Enhance Online Casino Players’ Experience
A lot can be said for AI. It is able to track player behavior such as how long a player plays on a certain game, when the player logs off because of a cold streak, or stays online because he/she is running hot. The AI can predict exactly when to deliver a bonus offer, such as cashback on the player’s losses when a player is losing. In the past, the casino system would just raise a flag and a manual offer would be sent. Now there is no user intervention needed because the AI software is now given full autonomy, which we might add saves the casino man hours.
While the AI algorithm detects what players may need when they need it, casino platforms are also advancing, giving players extra services AI cannot. For example, using live chat apps for instant real-time customer support, having the ability to add new payment methods such as new eWallets, and the capacity to integrate cryptocurrency wallets are all innovative additions to make today’s modern online casino more appealing. Moreover, thanks to more flexible coding and software, game developers can easily integrate new fiat and virtual currencies into slots, table games, and more.
Receiving a bonus at the right time, having access to customer support via live chat software, and having multiple payment and currency options available, compared to not having the flexibility to integrate all these options into a single platform, have helped online casinos appeal to wider target audiences.
Casino Apps for Smartwatches
It is a bit of a long shot, but as smartwatches are advancing, and the number of people wearing them has noticeably increased, this is another growth point iGaming is certainly looking to exploit. It isn’t just iGaming either because sports betting firms can also do well out of offering betting options to smartwatch wearers. For sports, voice commands to place bets could become a powerful ally, but how will online casinos adapt? With smartwatches having small screens, they are not exactly ideal for online slots.
However, iGaming is an industry where some of the world’s most creative minds are working together. Hi/Lo games, Dragon Tiger, and Baccarat could all suit the small smartwatch screen. There are sure to be a few new casino games, especially for smartwatches and as a result, this will become yet another technology that connects to online casinos, thus diversifying market reach and increasing the number of people gambling online.
Which of these 3 Technologies has the Most Influence on iGaming?
VR, AI, and casino apps for smartwatches are by no means the main contributing factors to the continued growth of the iGaming industry. The impact of VR and smartwatch tech on current iGaming revenues is minor right now, while AI has already had a major impact on player behaviour. AI algorithms have been increasing user engagement and enhancing player experience, which is a major factor in harnessing customer loyalty. Meanwhile, VR is set to boom any time soon and will soon grow into a major contributor for iGaming. As for the future of smartwatch casino gambling, it will probably have a low impact on casinos, but could have a major impact on sport betting when voice command tech advances further.