As 2020 rolls in, online gambling is set to make several leaps in different sectors. First, the industry is set to be worth over 60 billion dollars and is expected to hit $94 billion in 2024. This means that various players in the industry will compete for a piece of the cake.
For software developers, this means creating more innovative and captivating games. For casinos, this means incorporating new ideas including innovative technologies to improve customer experience. What are these technologies? How will they change the online gambling landscape? We take an in-depth look at 5 trends to look out for in gambling this 2020.
1. Increased Cryptocurrency Transactions
By now, you must have already come across the terms ‘cryptocurrency’ and ‘blockchain’. Perhaps, bitcoin is a more familiar term but you still don’t understand what the fuss is about.
In simple terms, blockchain is a technology that incorporates time-stamped records, several non-editable blocks, managed by multiple computers. This means it doesn’t have a central location. To secure these blocks of data, these computers use cryptography.
In recent years after blockchain technology surfaced, many casinos have incorporated this technology in various operations. The most notable area is payment. You see, blockchain pays out in smart contracts, making them faster and safer than fiat currencies.
In terms of security, players will no longer have to provide sensitive information such as personal and banking information when making deposits. Since all the information is stored in multiple computers, it means it’s next to impossible to manipulate or even access data. Therefore, it’s easy to know whether all games meet the fairness and transparency test.
As cryptocurrencies continue to gain popularity among gamblers, many casinos are starting to accept them as a form of payment. While this is the case, only a handful provide crypto-only payments, which means that in 2020, this number will only increase.
2. Increased Live Dealer Games
Before the advancement of technology, gamblers flocked brick and mortar casinos. Apart from slots, players opted for the tables to play games such as blackjack. However, technology made several leaps within a short period and many games moved online.
Among them are the table games that feature real human dealers. The only difference is that instead of having real humans, the games use(d) random number generators to deal the cards and that didn’t go down well with many gamblers.
Nevertheless, thanks to technology, again, it’s now possible to have human dealers at the table. Live streaming allows players to experience the real Las Vegas gambling only this time, you don’t need to leave the house.
There’s that rush of adrenaline when the dealer deals the cards and that liveliness when chatting with the croupier.
3. Augmented And Virtual Reality In Casinos
Speaking of real gaming, virtual reality is another frontier brought about by technology. It’s already successful in other forms of gaming and now, it’s making its way into the gambling world, with several casinos are already incorporating it in casinos.
What this technology does is it creates a whole new environment, a new reality. This is what many casinos are betting on to introduce gamblers to a whole new immersive experience. Poker is one of the casino games already using this technology. This means several players can share one environment, which adds to the experience.
It’s only a matter of time until players can see each other through this technology. Remember, VR is only getting started and the future is like a pandora’s box. You just don’t know what’s next!
Augmented reality is also a new development similar to virtual reality. However, unlike VR, AR complements the existing environment with computer overlays such as images. This is exactly what Pokémon Go uses and now it’s knocking on casino’s doors.
Since this technology augments an existing environment, it’s bound to make live gaming even more captivating. Imagine having a 360-degree view of your playing environment or even more features that affect players, the staff, and tables.
4. Evolving Gambling Habits
It’s evident that gamblers’ habits have evolved and continue to evolve as time passes. One of the biggest indicators is the rise in social gambling and gambling apps. Thanks to technology, players can now compete on leaderboards and participate in social slots among others.
Mobile devices have also been on the rise and now a huge percentage of the world’s population owns a smartphone. This has forced casinos to develop games exclusive to mobile devices while the majority opted to optimize their sites for mobile gambling. Game developers have also embarked on similar moves, with many of them focused on creating mobile-friendly games.
With such moves, players can now access and play their favorite online casino games while on the go. As 2020 kicks off, mobile gaming is expected to change the game as new casino titles under classic genres such as roulette, slots, poker and others will attract more investments in the same space.
5. Improved User Experience Through Machine Learning And Artificial Intelligence
Many people often use artificial intelligence and machine learning interchangeably to mean the same thing. However, the former is all about how computers perform tasks similar to the human brain. Further, the computer is first fed with rules and information that will guide it in task execution.
In the process, the computer will use the information and rules to correct itself. The most integral part of the entire process is self-correction that allows the system to act better in subsequent tasks. This allows players to get a better user experience when gambling.
Machine Learning, on the other hand, falls under artificial intelligence. This branch focuses more on statistical models and algorithms that enable the computer to execute certain tasks. With this, the computer system doesn’t need extra learning. Instead, it will use the data already gathered to improve on future tasks.
Online casino gambling is another addition to the long list of industries already using AI and ML to improve customer satisfaction. One area in online casino gambling that already features this technology is in customer suggestion. Players can now get suggestions of favorite games based on previous selections.
Another area is customer support, where online casinos use specialized chatbots to solve customer queries. After every question, the bot is able to learn and become better to deal with the next query. Fraud prevention and detection are also bound to benefit from AI and ML – a move that will improve security for both parties.
What Next For Online Gambling in 2020?
Online casinos, such as Wagerweb, are on a race to provide their customers with the best customer experience, and technology is at the center of it all. With the fast-changing landscape in the tech world, it’s only a matter of time until the changes reach the gambling industry.
Some casinos are already incorporating various technologies into their operations. Others have plans to do so and 2020 sets the stage for what is to be an exciting year for online gambling.
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