The gaming business is an industry whose future development is impossible without the use of the latest technology. To increase the gamblers’ demand for gambling and online casino, manufacturers are required to be constantly aware of the improvement of new technologies.
The online gambling industry is growing at an incredible speed due to the emergence of new technologies. Casino operators need to find a way to differentiate themselves from the rest in order to thrive in the highly competitive industry. They have to provide state-of-the-art games and ensure players have an amazing gaming experience. Now that we’ve talked all about the history of online gambling, let’s take a look at what the future holds. The current size of the online casino market is almost 46 billion US dollars in 2019, according to Statista. And as we’ve already mentioned, the online gambling industry is expected to be worth more than 94 billion US dollars by 2024. Jan 17, 2018 In 2018, the online gambling industry is expected to surpass $50 billion. A study by SuperData Research found that mobile gambling was up 75%.
To do this, you need to monitor trends and make timely decisions. How can we predict the future in this area?
Blockchain – a new technology for the development of the gaming industry
Blockchain is an integral technology, without which the development of the gambling business is impossible. It allows you to speed up and simplify cash transactions that are carried out daily. Intermediaries are not involved in this process, and users can easily receive winning money without difficulty and expectation.
No one will be able to confiscate them or engage in fraudulent activities. A great example is Bitbook. It provides users with security and transactions in the shortest possible time.
Gambling for mobile devices – convenience for users
Most online games are designed to be played on a computer. But nowadays, tablets and smartphones are very popular. These devices save time and are more convenient for playing.
Therefore, manufacturers need to create applications specifically for mobile devices. The Bitbook platform allows players to enjoy online games on both computers and mobile devices.
Gambling and sports betting: two in one
Every day there are more and more users who like to bet on sports. Thanks to the Bitbook platform, users can enjoy the gameplay a lot since it combines online gambling with various betting options.
Bitbook allows players to choose among a huge assortment of slot machines, casino games, as well as bet on the outcome of various sports games.
Virtual reality: have fun without leaving home
Contact with virtual reality will allow the future to expand existing restrictions. Unfortunately, now virtual reality is available only for modern video games. Thanks to the development of technology, players will be able to enjoy gambling without leaving home.
In the future, users will have the opportunity to play in Vegas casinos, and in a few minutes will be able to visit any casino in another city.
Future prospects
There is no doubt that land-based casinos will be popular in the next 10 years, since users of online casinos are mainly users in the age group from 18 to 35 years. This is due to the fact that people of this age are users of smartphones.
Nevertheless, blockchain and virtual reality will surely find their fans. Thanks to this, the gaming industry is sure to reach a new level in the future.
A new report takes a look at the future of the US gambling industry and identifies seven verticals with a lot of upside.
Not shockingly, many of these forms of gaming are done primarily online and have not been fully exploited in the US yet.
The report from PlayUSA takes a detailed look at each vertical and reveals where various stakeholders — from governments to the casino industry — stand on the issues.
The gambling issues to watch in coming years
Here are the seven areas to watch for growth or change in the American market, per the report:
Gambling Industry Trends
- Online gambling
- Online lottery
- Daily fantasy sports
- Social casino
- Online skill gambling
- Online horse betting
- Sports betting
Not all of these are equal, obviously. Online gambling, online lottery and sports betting in particular offer far higher potential ceilings.
The report notes that you can already do at least one of the above activities in 44 states already. There are 26 states that are actively looking at legalizing and regulating at least one of the activities above. You can track much of that legislation here and here.
Making progress on new forms of gambling
Change is never easy. And that’s especially true of gambling. Nevada casinos, along with horse racing and lotteries, were once the only ways to really gamble legally in the US. But that eventually changed across the US, as tribal and commercial casinos have cropped up in recent decades, alongside some forms of online gaming.
So change is possible. But that still doesn’t mean it will be easy for any of the forms of gaming listed above to gain more traction.
From the report:
Gambling is a highly dynamic issue in the United States, a universe populated by a long list of stakeholders and a dense web of agendas and alliances. … Achieving progress on any – let alone all – is a tall task given the diverse array of opinions from operators, lawmakers, and other economic interests.
Daily fantasy sports is by far the vertical that has had the most success in gaining legal clarity — 11 states have legalized it in the past five years. However, the industry already existed without that legal clarity in the vast majority of states.
The biggest opportunities lie in iGaming, sports betting
If online gambling and sports betting make headway, they can both be gamechangers for the gaming industry.
We know from New Jersey that online gambling has the potential to be an economic powerhouse, as it has generated nearly $100 million in tax revenue since launch. Pennsylvania is the state closest to legalizing iGaming.
Sports betting offers a similar possible sea change. From the report:
Sports betting represents one of the last great frontiers of regulated gambling in the United States. Effectively, a national expansion of regulated sports betting would immediately reshape the landscape for commercial gambling.
For more information on each of the emerging segments of the gaming industry, their current status and revenue potential as well as their legislative outlooks, download the full report at PlayUSA.
Image credit: Cheryl Ann Quigley / Shutterstock.com