Did you know that the iGaming industry is expected to reach a size of $270 billion by the end of 2021? The popularity of casino games is never decreasing, and high-quality slot machines, such as free China Shores slots by Konami, Bull Mystery, Volcanic Rock Fire, Dragon’s Law, keep the number of players in the online gambling industry growing. Truth be told, the gambling industry has grown well above expectations in the past year: even professional analysts did not expect this level of growth. So why did this growth happen, and what benefits will it have? What changes and innovations can we expect in gambling platforms and online casinos? We answer these questions below.
Let’s Start with the Reason
Actually, the growth in the gambling market has a simple reason: pandemic. COVID-19 has negatively affected many industries and caused them to shrink. Among them is the sports betting industry: Canceled matches and tournaments have also eliminated betting opportunities and forced bettors to look for alternatives to keep their gaming leisure going. They chose the closest thing to betting: online casino sites.
In a noticeably short time, the number of desktop and mobile gambling users has increased. The fact that people are mostly at home and playing games more than ever has also fueled the growth of the casino industry. Remember that land-based casinos were also closed during the pandemic, but computer software was available 24/7, and online casinos were always open. All of this has been extremely beneficial for both desktop and mobile casino sites. The global market for online gambling has therefore grown and evolved to exceed analysts’ expectations. For the same reason, mobile devices are increasingly being used for free play slots and other casino games.
Now that we look at the cause, we can start talking about expectations. This growth in the online gambling industry has enabled developers and operators to obtain the financial resources required for many new projects (i.e. social responsibility) and technologies. So, what awaits us in the near future?
AI, Machine Learning, Virtual Reality, and More
Technologies in the near future of the iGaming industry are actually already in use, but they are progressing rather slowly for many reasons. Most of the time, this is because of the lack of executive education. Casino managers are afraid to invest in technologies they are not familiar with. However, now that most of the financial problems are solved, we are confident that they will be more flexible in this regard and will allow already existing technologies to develop much faster. In this context, you can expect to see the following innovations in the online gambling industry and online casinos like the CasiGo Casino pretty soon:
We share a lot on social media. We announce the things we like and do not like to the whole world every day. Internet technology enables gamers around the world to share their personal opinions with third parties whenever they want. With data analytics techniques, it is possible to make these posts a part of the game development process. When developing new casino games, the features they will have are decided according to the tastes of the players.
This is an ongoing practice, but normally this work is done by “humans”. However, our internet posts have increased so much that humans cannot keep track of them, and it is getting harder and harder to analyze the collected data. This is where artificial intelligence technology comes in. Think of it not as an intelligence that can think independently but as a technology that can collect incredible amounts of data and analyze it in a matter of seconds. This technology is so advanced that it can tell you what the theme, reel number, symbols, and bonus features of the game you develop should be. It uses the posts of the players to determine these. This means that casino games that exactly meet our expectations will be developed more and more. It will be us who decides which features should be in a slot machine through artificial intelligence, not the developer team.
There are already casino sites running on the blockchain, but they are few in number, and the games they offer are quite simple. Whereas innovative blockchains like Ethereum can even run complex applications. Blockchain technology does not require traditional servers and can create autonomous platforms that do not need to be managed by humans. If you play in a casino entirely managed by blockchain:
- You are not affected by geographic restrictions. It is also not possible to block access to this casino as it does not need servers.
- Each game is a “smart contract,” and you will receive the payment as soon as you win in a game. You do not need to verify your identity, and there is no need to “review” your withdrawal request.
- And of course, you can register and play anonymously. You do not need to share your credentials with the casino.
This technology can completely change the online gambling industry. Traditional online casinos need licenses, administrators, customer representatives, and physical servers. Blockchain casinos can work without any of these. Moreover, they can make it possible for game developers to interact directly with players. Currently, none of the games you play in online casinos are developed by the casino itself. The operator rents out the games of developer companies and offers them to its users: in other words, it works as an intermediary.
In blockchain casinos, the developer can publish its game directly without the need for an intermediary. This allows the developer to both earn more money and interact directly with the player community. Thus, both developers and players can get a more enjoyable and profitable experience.
Many exciting technologies await us in the near future of the online gambling industry, but we think the most important of them will be the blockchain. Because it completely changes the way online casinos work and “liberates” casino games, literally. Your government will no longer be able to prevent you from accessing a particular online casino or control your money transfers due to local laws. You will be able to play from anywhere in the world with no restrictions.