Since the online gambling Industry came to like in the 90s, iGaming operations and online sports betting have grown significantly thanks to technological innovations. Today, the gambling industry features different technologies centered on player security, privacy, payment facilitation, and settlement.
In this decade, continued technological advancement is set to elevate the gambling industry further and make the betting experience more seamless. Technologies such as cloud gaming, virtual reality, augmented reality and blockchain will be a major part of the betting market, shaping everything from how people place bets to payment methods.
Emerging Technologies Transforming the Gambling Industry
With an improving regulatory landscape and several exciting tech-led developments, millions of players can now access gambling like never before. Here are six emerging technologies set to improve the gambling industry in the next several years.
- Cashless Payments
In the past, punters made cash transactions when visiting casinos. That has become a thing of the past, as casinos have adopted cashless payment systems that allow players to enjoy casino games without carrying fiat currency into different establishments. When playing online keno at any of the leading sites listed at topaustraliangambling.com/online-casinos/online-keno/, the option of cashless payments is available.
Some of the most common cashless payment options include e-wallets, mobile payments, and credit cards. Some operators have also embraced digital currencies like Ethereum, bitcoin, and litecoin. Additionally, land-based gambling operators are also embracing cashless payment methods, which players perceive as more secure.
- Artificial Intelligence
Artificial intelligence plays a vital role in several industries and the gambling sector is one of them. The technology is proving useful in analyzing the gamblers’ behaviors in online gambling websites and stationary casinos, helping to detect gambling addiction. In such a case, casinos can detect users that are highly likely to develop a gambling addiction and they can offer them help before it becomes a major problem.
Besides protecting the players, a properly used AI-based software can protect casino operators through self-learning skills and data analysis to track players who cheat. That’s particularly useful to online casinos, as they might find it a little hard to track down cheating players who use sophisticated techniques. That benefits both the casino and the players, as gamblers get to enjoy their games in a fair environment.
Artificial intelligence is also improving customer service by delivering sophisticated communication channels between the operators and the players. The technology delivers customer-oriented communication solutions faster than conventional channels, which helps to resolve problems efficiently based on its analysis.
- Big Data
Big data is among the most crucial technological advancements of the century as it offers various benefits to industries of all sizes. In the gambling industry, the technology helps operators to collect and analyze large amounts of data, allowing casino operators to personalize every player’s interactions using their crucial behavioral details.
Every gambler has specific talents and behaviors, different tactics, and different tastes. That’s why having access to the information about all that can help online gaming platforms to deliver unique experiences and forge better relationships with customers.
Online casinos can also big data for tracking game activity and discovering the games that users play most. They can also learn the games that need improvements to attract more players.
- Blockchain Technology
Besides its role in the financial market, blockchain technology is transforming the casino industry. The technology is known for making it hard for third-party users to manipulate the records stored, making it more secure for storing the users’ information while gambling.
According to casino experts, the number of blockchain-based gaming projects will continue to increase in the foreseeable future. However, only time can tell how the technology will develop the industry, it’s obvious it will deliver more transparency, safe gaming platforms, and convenient gaming.
- Mobile Gaming and Smart Devices
Mobile betting technology has significantly boosted the popularity of online casinos in the last 25 years. With mobile devices and social media, game accessibility has become a crucial aspect for players as they can enjoy games from anywhere.
Mobile technology has also presented operators with the chance to integrate social networks, real-time leader boards, and competitive tournaments. As such, players no longer need to go to traditional casinos to play games as they can enjoy a unique gaming experience with live dealers from their smartphones and smart devices.
- Cloud Gaming
While cloud gaming has been a major success in the video gaming market, it’s yet to properly permeate the gambling industry. However, the benefits of applying the technology to the online gambling market are similar.
Cloud gaming allows operators to stream games to their users using powerful remote servers. That requires the players to have a stable internet connection to stream the content from the remote servers to their devices. However, the technology can solve traffic issues in online casinos and allow real-time betting in sportsbooks.
Are there any Negative Effects of Technology in the Casino Market?
While the casino industry has benefited immensely from different tech trends, there are several issues that players and operators might be concerned about. For example, an Asian gang recently used a miniature fiber optic paired with a digital camera to record card flicks and get to know the order of cards in every game. Additionally, industry experts are concerned that some technologies might encourage players to keep gambling, leading to addiction.
