The online casino market is currently thriving and growing at a rapid pace, with online iGaming revenue estimated to have grown by almost 20 percent last year. In the United Kingdom and much of Europe, online casinos have been easily accessible for the last couple of decades, but even countries with more restrictive laws, such as the United States, governments are taking steps to legalise and regulate the market.
The fast development of new technology has enhanced our lives in many ways and technological innovations have made many day-to-day activities, including gaming, quicker and more convenient. The casino industry is a perfect example of an industry that has adapted to keep up with technological trends and utilise them to improve the experiences that customers have.
There are a vast range of technological that have been incorporated into the online casino experience, these are just some of the newest innovations set to change the way we play casino games online:
Blockchain technology and cryptocurrency.
If you have heard of Bitcoin then you already have some awareness of what blockchain technology and cryptocurrency is.
Blockchain is a ledger of all transactions across a peer to peer network. Unlike traditional banks, blockchain uses a decentralised structure where participants confirm transactions without a central authority being involved.
Cryptocurrency is a currency exchange that is created and stored in a digital blockchain. Encryption keeps transactions anonymous and private and controls the creation of monetary units.
Bitcoin is the best known example of a cryptocurrency but there are many other than exist, including Ethereum, Dogecoin and Litecoin, and even more likely to become available in future. Cryptocurrency has no physical form or intrinsic value, while it has many benefits it is also a complex technology with regulatory challenges.
But what does this have to do with online casinos? Well, cryptocurrency as a transaction type could help online casinos to speed up payout times, preserve anonymity and attract players that have privacy concerns with traditional banking methods.
There are a number of casinos that are already accepting cryptocurrency as an approved transaction type and a small number of crypto only casinos exist on the internet. As cryptocurrency usage continues to grow, we can expect more casinos to begin accepting it in the years ahead.
In recent years, more online casino providers have been investing in the use of artificial intelligence (AI) to improve the experiences their customers have when gaming. There are many benefits to the use of AI, including improved customer service.
AI can be used to create automated chatbots and reduce the casino’s reliance on human customer service teams. This not only reduces wage costs for the casino, it also improves access to on-demand contact with customer service for customers with queries or issues.
AI is also being used to create a more personalised experience, software using AI can track players to build data on the types of games they most enjoy, when they like to play, and what offers or bonus features would most appeal to them.
This means that casinos can offer them updates and special deals that they are bound to appreciate. Tight data regulations such as GDPR put the responsibility on casinos to protect and anonymise the data they collect using this technology.
Virtual reality has been around for a while now and is popular with gamers and early adopters that like to be the first to experience new innovations and emerging tech trends. Virtual reality (VR) headsets allow players to fully immerse themselves in a digital created environment.
VR casinos however are still very new and are not yet popular. In a VR casino, a player can walk around a virtual casino floor, choose games and interact with other players as they would in ‘real life’. They can even visit the virtual casino bar and lobby, giving them an opportunity to experience social interaction as they would in a land based casino venue.
We can expect that as more casino game developers invest in developing VR gaming environments and VR technology becomes more affordable, this type of casino gaming will begin to grow in popularity.
Lastly, wearable technology such as smartwatches is increasing in usage and casino developers have noticed this trend. The first online casinos available on smartwatches have been released and we can expect more to come to market soon.
Gaming on smartwatch is convenient for casino gamers with busy lives who might want to fit in a game or two between everyday activities, when getting out a laptop, tablet or smartphone is inconvenient.
Online casinos such as Monopoly Casino are constantly evolving with new innovations to keep players entertained. This casino releases new games with new features on a regular basis. The online casino is highly competitive and only those open to change and incorporating new technology are likely to succeed in the long term.