Gambling is one of the most lucrative industries in the world and it owes much of its success to technological breakthroughs. Online casinos are constantly implementing new software upgrades that improve the gaming experience. In order to understand and predict the future of the gambling sector, understanding the current and future technological trends is of the essence.
Blockchain and the Gambling Sector
Blockchain is a type of distributed ledger technology meaning that it is decentralized and without a central authority such as a financial institution. Blockchain is known for its transparency and anonymity which is why it is finding its uses in all industries and not just in the gambling sector. Most known application of blockchain is bitcoin and other cryptocurrencies. Since there is no central authority, transaction take minutes instead of days and the transaction fees are slim to nothing. All transactions are transparent and so far, it has been proven impossible to beat the algorithm.
Since it is a decentralized system, it is hard to break it since personal info is stored in various places and not at one central authority. There are already some online casino operators allowing the use of cryptocurrencies on their website as well as some who only work on cryptocurrencies and are entirely blockchain-based.
The Mobile Sector
One of the biggest change in gambling occurred online and the development of smartphones allowed online casinos and sports betting to be available 24/7 anywhere. Furthermore, the development of technology leads to constant improvements in the gaming sector. Since smartphones are the most used devices, software providers are constantly focusing on providing innovative gaming solutions. The future will certainly see more changes in the mobile sector with more available options.
Virtual Reality and Gambling
Like blockchain, virtual reality is also hyped new term everybody talks and dreams about. There are already a wide number of different virtual reality implementation where users get to experience a completely new experience. At the moment, it is present in video games but online casinos are looking to implement their own virtual reality in online gambling. This will further negatively impact the land-based casinos since the virtual reality may provide the users with the same experience of going to Macau or Las Vegas from their home.
It is not expected for land-based casinos to close since some people still like the experience of going to a traditional casino. Still, with the new generations, it is expected that this industry falls a bit short to the best online casino games to win money, especially with the development of virtual reality. Blockchain will provide quick and safe transactions as well as complete anonymity of players. The mobile sector will continue to grow proportionally to technological breakthroughs.