From online dating to ordering our groceries, technology has transformed almost every aspect of our lives. This is certainly true when it comes to gambling. Whether you’re a regular player at SP Casinos or prefer to visit a land-based casino, it’s clear that the online casino industry is going from strength to strength.
According to information from Statista, the online gambling sector will be worth over $90 billion by 2023 – which is around $40 billion more than its current valuation. This growth will be driven by a variety of factors, the most important of which are tech developments.
From VR to cryptocurrency, read on to discover three technologies that are on the horizon for the online casino industry.
Cryptocurrency
When Bitcoin (BTC) came to the market in 2009, it kickstarted one of the most controversial developments of the 21st century. Love it or loathe it, this virtual currency has disrupted the world of online payments, spawning more than 6,000 different cryptocurrencies (known as altcoins) over the last decade.
Cryptocurrency casinos are rapidly embracing the growing demand for digital assets. Considering investing in cryptocurrency is a bit of a gamble itself, it’s unsurprising that the two industries have started to overlap. These casinos accept payments in a variety of cryptocurrencies, although Bitcoin is still the most popular.
Following the massive bull run that began in November 2020, we should definitely expect to see more of these specialist casinos launching online in the next few years.
Virtual Reality
From real estate to beauty, all kinds of industries are embracing the power of virtual reality (VR) to provide a digital-first customer experience. The online casino industry wasn’t quick to integate this technology into its games, but now that a few websites have paved the way, it’s likely that VR gambling games will become more mainstream.
VR is a computer-generated simulation that enables us to ‘experience’ artifical environments. Want to get the Las Vegas experience without leaving your living room? Through the power of VR, new casino games will be able to transport you to world-famous casinos – and instead of a plane ticket and limitless funds, all you’ll need is an internet connection and headset.
Chatbot Support
Customer support might not be the most glamorous aspect of the online casino industry, but it is one of the most crucial. Gambling online is inherently a risky business – so who do you turn to if the worst happens and something goes wrong?
Confidence in online casinos might be increasing, thanks to secure encryption, better government regulation, and tech such as random number generators (RNGs). But for complete peace of mind, you should always research your chosen casino’s customer service policy before entering your card details.
The good news is that the rise of AI chatbots could soon infiltrate the online casino sector. The demand for instant messaging services is growing – and with the news that the luxury Las Vegas casino The Cosmpolitan has unveiled a resident chatbot named Rose, we could see more establishments follow suit.