Online gambling is a promising business area, which will only strengthen its position in the global economy in the future. According to the Market Research Report, the gambling business will generate $74.2 billion in profit in 2021, and this figure will only grow in the future. The annual growth rate will be 11.4% at least until the end of the decade. In 2028, the capitalization of online gambling will amount to $158.2 billion.
Industry Prospects
Online gambling is not just developing in parallel with the global economy, but almost three times exceeds it in terms of growth (11.4% versus 4% predicted by the World Bank). So, every time you play Wildlife slot Ca, you make a contribution to the above numbers.
The main reasons for the active development of the industry are as follows:
- Availability of gambling entertainment – To start playing, gamers only need stable access to the Internet. Users do not need to leave their comfort zone to visit the virtual hall with slot machines. The availability of casino games is also affected by the increase in gamblers’ income. Accordingly, they spend more money on iGaming services.
- Implementation of IT tools – Launching a casino business is an excellent springboard for using AI, blockchain transfers, Big Data algorithms, and other technologies.
- Loyalty to legislation – In 2021, governments in many countries allowed online gambling to boost local government revenues. To run a respectable business, entrepreneurs only need to work within the law and follow the principles of responsible gaming.
- Active sponsorship – Operators are actively attracting famous people to advertising: celebrities, athletes, TV presenters, etc. This approach increases the target audience.
- Simple controls – iGaming is an industry unaffected by real estate prices, labor costs, quarantine measures, and other factors that land-based businesses face. The industry is less exposed to financial risks, which has a positive effect on profits.
Using Digital Technologies
The use of modern IT solutions is one of the key indicators of the growth of the iGaming industry. Market Research Report analysts highlight such technological advances that will be relevant in the next 5-7 years:
#1 – Blockchain
The blockchain cryptographic system is used for:
- Conducting fast, anonymous, and secure transfers from anywhere in the world;
- Creation of multiplayer games with improved gameplay;
- Honest control of online casinos.
Blockchain solves the problems of trust between users and a gambling site. The technology keeps all records of transactions: credited funds, completed rounds, paid bonuses, etc. Gamers can access the transaction history and verify the operator’s solvency
#2 – Artificial Intelligence
Machine learning algorithms are becoming more and more popular in gambling. They are mainly used to:
- Manage chatbots – smart assistants that play the game on behalf of the platform and solve a number of technical problems;
- Collect and analyze information about user preferences;
- Identify gamers with signs of gambling addiction.
AI makes casino sites safer by identifying customers with gambling addiction. AI-powered casino software tracks problematic gamblers by analyzing linked accounts
#3 – VR and AR
The use of virtual and augmented reality helps:
- Provide an immersive gaming experience based on interaction with the 3D rendering of casino tables;
- Improve social interaction (gamers can see themselves and other clients in a three-dimensional environment);
- Expand the geography of the game (users can visit different casinos every day using a VR headset).
These are some of the tech solutions that are massively integrated into the gambling industry. More of them are to come in the future.