One of the consequences of the global pandemic that has taken the world in its grips is that people are spending a lot more time online. Cooped up in our houses and observing the social distancing rules, there isn’t that much else we could be doing. That means that industries like iGaming are booming. Boosted by a massive influx of new players, the iGaming is transforming before us. In 2019, it was worth $46 billion. By 2024, that number is projected to reach $94 billion, making it one of the fastest-growing industries in the world. Several key technology trends are responsible for this increase. As an industry, the iGaming has always been heavily dependent on technology development and among the first ones to embrace any new development. That will continue in the future.
Cryptocurrencies are a global technology trend that is already having a noticeable impact on the way we handle online payments. In iGaming, it will help eliminate some of the most pressing issues players are complaining about. The first is waiting time for withdrawals. At the moment, you have to wait from 24 hours up to five days for withdrawing your money, depending on the bank you are using. Not only it is inconvenient, but somewhat hypocritical as well since the deposits usually go through almost instantly. Only when you want to take your money, are you faced with a waiting period. With cryptos, that will be eliminated. The other issue is cost. Banks often charge exorbitant fees for online transactions. Cryptocurrencies also include fees for transactions but are much lower. Finally, players will enjoy anonymity. They won’t have to worry about somebody seeing their credit card statement and judging them.
Once touted as a game-changer for the gaming industry, VR technology had a lot of troubles getting out of the gates. At the moment, it is still far from being the technological development that will change the way we play games, as promised by the developers. There are several reasons for this, but the main one is that the equipment needed to fully enjoy VTR is still too expensive for the vast majority of players. That doesn’t mean it isn’t being implemented though. In iGaming, VR will offer a chance for increased immersion, creating various settings that allow players to feel as if they are inside a real casino. Many software developers are already including VR games in their portfolios and that trend will continue to increase its influence on the future of iGaming.
Mobile users have been playing a huge role in iGaming in the last decade. With new 5G networks being installed, that trend will only increase. The massive increase in internet speeds new technology is offering will eliminate the biggest complaint about mobile gaming, the lack of proper connectivity on the go. 5G will have speeds that can rival those we have at our homes. For the first time in history, wireless networks will be able to deliver data on par with wired ones. Gaming is only one aspect of this increased connectivity. Everything will be done via mobile devices, from playing games to making credit card payments. The future seems set for mobile devices, thanks to their convenience.
Blockchain Online Slots
Blockchain technology will bring a dose of transparency to the world of iGaming, something the industry has sorely needed since its beginnings. Online slots already have a public RTP (Return To Player) percentage displayed on the site. With blockchain-powered games, transparency will be elevated to another level. It will also offer far better graphics and performance, with other improvements. This will make popular video slots games even more in demand. Blockchain will go a long way into eliminating shady practices some casinos employ and reduce the number of scams, increasing the level of enjoyment players get from the games.
Live Dealer Tables
Playing and winning against a computer just isn’t the same as playing against other people. That was proven many times with many popular online games featuring multiplayer and thousands of players battling against each other. The fact hasn’t been lost on iGames developers and many online casinos are offering an option to play against other players or participate in games with real dealers. Not only did this increased immersion, but it added a whole new dimension to the games. Playing poker against an AI is simply not as fun as playing against other players. In the future, this is one trend that will continue to grow and influence the future of iGaming.
Since iGaming is so dependent on technology, it is no wonder that the industry leaders are always on the hunt for new technologies they can adapt and implement in their daily operations. As the demand for new and better games and experiences continues to grow, so does the influx of new technological solutions needed to meet that demand.
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