iGaming is still a relatively young field, but it has already seen numerous changes in the way things operate. Even now experts are predicting that there may be even MORE changes on the way. As technology changes, so does the industry along with it. In this article, we’ll look at some potential changes in the future of iGaming, and how your company can adapt to these changes.
Table of Contents
1. Evolution
2. Cryptocurrency
2.1 Global Accessibility & Options
2.2 Better Security
2.3 Efficiency
2.4 Anonymity
3. Artificial Intelligence
3.1 Customized Player Preferences
3.2 Security
4. Augmented Reality & Virtual Reality
4.1 AR
4.2 VR
5. Corporate Social Responsibility
6. Conclusion
Evolution
In March this year, the Next.io conference on online betting and online casino gaming software was held, attended by online casino gaming software industry leaders from all around the world. One of the key things all the panelists agreed upon was that online gambling is still the equivalent of a baby after a decade, but it already needs to adapt and evolve for survival.
Jonathan Doublet, vice president of U.S. business operations for Playtech, said “The next generation will need something different. We will need to innovate.”
This ‘innovation’ includes taking steps towards greater engagement between players and the company’s brand, better integration with social media interactions, and more targeted experiences catering to individual preferences
It’s important for your company to keep up with the times and at least be aware of changing trends in online casino gaming software, even if it chooses not to pursue those trends. Having knowledge like this in your company’s back pocket makes sure it isn’t caught unaware by sudden developments. Working with provider partners, like Pragmatic Play or Nautilus, that help integrate such technology into your casino is also a good idea.
Cryptocurrency
In recent years, the use of cryptocurrency has become more and more widespread. Nowadays, everyone from a taxi driver to a CEO knows about cryptocurrency and has probably owned some.
Cryptocurrency, also known as ‘crypto’, is essentially a type of purely digital currency on the blockchain, which can be bought, sold, and exchanged like any other form of money. There are numerous advantages to using cryptocurrency in the field of iGaming, some of which are listed below.
Global Accessibility & Options
Crypto, unlike normal money, isn’t usually tied to a specific nation or geographical location. This means it provides an easier way for players worldwide to participate in your casino games, without having to constantly keep track of and exchange currencies. This also means players have more options to choose from when they want to wager.
Better Security
The nature of crypto is that it’s encoded on the blockchain. Without going too deep into specifics, this technology has unique identifiers, ensuring that each transaction is transparent, easily verified, and cannot be tampered with. All these mean a much lower fraud risk.
Efficiency
Since crypto is entirely digital, any transactions involving it can be handled by computers much faster than traditional bank transfers. In an online casino, every second counts when a customer wants to bet or withdraw their earnings, and crypto helps your customers make near-instant deposits and withdrawals when using your casino’s online casino gaming software.
Anonymity
Crypto users do not need to share their personal information (only a crypto address) when trading crypto, which could help preserve the privacy of your players.
Artificial Intelligence
Aside from crypto, another major emerging trend is Artificial Intelligence, or AI for short. Essentially, computer programs that are smart enough to think for themselves instead of relying solely on their programming. While there have been hiccups and roadblocks along the way as AI development grapples with challenges, it’s likely that there may be a time where AI allows your iGaming software to adapt to challenges in real-time. This will have massive implications for how your company runs its online casino.
Customized Player Preferences
An advanced enough AI will be able to customize each play session to create a unique experience per player. By studying player behavior and preferences, it learns, and adapts accordingly. This also means it can steer the player towards other potential games to try out.
Security
Technology of this sort can also be used for security, with machine learning algorithms that detect cheating behavior in realtime.
Augmented Reality & Virtual Reality
Thirdly, there are also the twin technological developments of augmented reality (AR) and virtual reality (VR), which both involve placing virtual environments over the real world.
AR
Augmented reality (AR) works by overlaying virtual images and sound on physical objects. For example, a betting menu on a player’s tabletop. Or, a roulette wheel on their blank wall. This is commonly done using devices like cellphones, tablets, or smart glasses.
The player can then interact with these virtual objects, which sends commands to the system accordingly. Pokemon GO is an example of a successful AR game.
Some online casino gaming software already uses AR, but the technology has not been fully adopted yet.
VR
VR takes things one step further, and replaces the entire real world with a virtual one. Inside a VR world, a player can feel as though everything they see and hear is real. Imagine being able to step into a fully functional casino from the comfort of your home. And not just that, the player gets to gamble and bet as if they’re right there.
Unfortunately, VR technology is not quite as accessible to the common consumer compared to AR, due to its pricing. Many casinos also still have not embraced this technology to its fullest.
Corporate Social Responsibility
Of course, with all these innovations, your casino also bears a responsibility towards your customers to ensure they are well-treated, and to ensure responsible gaming is adhered to.
For example, using technology like AI in online casino gaming software, it’s possible to have dynamic budget or time limits for each player with their consent. That way, these players can be monitored and notified if they exceed their limits. Sometimes, players get too caught up in gambling, so they may not realize it.
Conclusion
Online casino gaming software has advanced significantly, and will continue to do so from now on. To not get left behind, it’s important for your company to partner with a reliable provider like Nautilus Games, so the provider can help your company adjust.
