It’s not news that the world in online gaming has grown tenfold over the last decade, and that’s all thanks to technology. The iGaming industry has experienced explosive growth due to this new era of tech, and it’s improving every year. Digital advancements have completely reshaped online gaming and gambling, completely changing how people around the world partake in their share of online fun.
Flashback to the 1990s and you’ll see the first online casinos launch shortly after the World Wide Web. By 1996 there were only 15 gambling sites in total across the world. Fast forward to today and it’s fair to say that this figure has now hit almost 5,000, with an industry net worth projection of USD 159 billion by 2026. But what’s this colossal growth from? Technology, of course. Let’s take a look at the reason behind this surge and which parts of tech have really pushed the online gambling space into a phenomenon.
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Mobile phones
From brick-and-mortar spaces for people to visit during their free time, to now being able to access the slots wherever you are in the world — that’s the essence of online gambling and it’s all thanks to the trusty mobile phone. Though the smartphone may be one of the most commonly used items in our generation, the first mobile phones that allowed internet access were actually Nokia phones in the late ’90s. They paved the way for online casinos everywhere. High-speed internet quickly followed suit, along with smartphones, and online gaming became the norm for casino lovers.
From the iPhone to Samsung, every brand launched a smartphone by the early 2000s. Soon, we were witnessing over half of the casino-loving population turn to iGaming rather than physical entities. Australia was apparently one of the earlier countries to allow online gambling in 2001. Soon, finding an online casino in Australia 10 became as simple as opening your search engine, bringing pokies enthusiasts from all over the region to their digital arenas. The UK quickly followed suit, and now the majority of countries across the globe allow online gambling at the players’ fingertips.
Blockchain
Although it may not be part of your daily vocabulary, blockchain is essential for the future of online casinos. Blockchain allows casinos to include cryptocurrencies in their payment options, making it a powerful tool.
When a transaction happens, a block is automatically created in the chain, enforcing a timestamp and tamper-proof record of payment to the casino. This enables the iGaming industry to flourish as crypto gaming is now a crucial part of technological advances, and it needs to be as safe as possible. Blockchain isn’t just for payouts either; it can also be used to ensure that the random number generators are one hundred percent fair and secure for everyone involved.
Virtual Reality and Augmented Reality
If you were to tell us twenty years ago that we’d soon be walking around with headsets and a virtual world, well, we’d think you were mad. But in truth, that’s the iGaming reality. Integration of virtual and augmented reality is now here, ensuring a whole new experience for gamers and gamblers across the world. There are now many ways of creating immersion, offering true-to-life experiences for everyone.
Mimicking real-life experiences in a physical casino, you can now be in a completely different country, while virtually playing elsewhere. Whether it’s on the slots, tables, or poker tournaments, a new reality is being forged by technology, and we can’t wait to see how it grows in the next 15 years. The VR gaming industry is expected to reach a net worth of over $45 billion in the next 3 years, indicating continued growth.
Improvement of AI
While a lot of us have seen ChatGPT take over the scene, AI has actually made the personalization side of iGaming a whole lot better. Artificial Intelligence brings a personal touch to the front-end experience for users. AI can analyze your behavior on the games, before tailoring the gameplay to your needs.
Now, AI can personalize promotions and gaming experiences, so you get real-time offers based on what you usually do and use. AI algorithms can also analyze all of your historical data on-site and predict future outcomes.
This helps the business, as it creates accurate odds to ensure profitability. AI has also leveled up the customer-facing ability of all online casinos. Chatbots can now handle many queries and issues in real-time, instead of the user having to wait for a response, improving overall satisfaction rates.
iGaming has only been able to flourish into one of the biggest industries in the world because of technology. Technology has progressed so much that we are seeing real-time developments and personalized experiences. Now, you don’t have to step into a casino to feel like you’re there — all you need is an internet connection.
