How Technical Innovation Is Driving The Online Gambling Industry

Photo via:

The online gambling industry has seen numerous technological advances over the last few years, with many taking place in the online casino space. Online casinos are becoming more and more popular and many turned to them during the early days of the COVID-19 pandemic, when movement was restricted and businesses were closed.

Even prior to the pandemic, online casinos were already responsible for a large share of the gambling market due to the ever-improving platforms. Things have been no different in 2021 and the industry will have evolved further in another year’s time.

One of the reasons more people are looking to online casinos has to do with the cryptocurrency boom. The crypto market took a dive in May and is slowly recovering, yet crypto transactions are becoming mainstream and the online gambling space has gotten in on it, incorporating blockchain technology into their businesses. There are already a number of online casinos fully operating on blockchains, giving players access to decentralized gambling, as well as fast and secure payment.

Some gamblers prefer making crypto payments because of the anonymity it provides. But the security aspect is also a very attractive feature as transactions involving cryptocurrencies are normally more secure than the traditional banking methods. It’s pretty safe to assume that crypto payments will become the most popular among online gamblers in years to come despite the volatility various coins have shown this year.

“With the right management and utilization, blockchain technology lets online casino operators deliver an enhanced user experience,” a piece from Business Matters Magazine explains. “Moreover, with blockchain technology, online gambling platforms don’t need to use third-party companies as the blockchain alone is powerful enough to secure the transactions.

“Many online players prefer gambling sites that accept digital currencies as safer than those who only accept fiats. It lets them play their favorite games and withdraw any winnings without worries about security and safety threats. Aside from the security, players can enjoy faster transactions than fiat and regular online banking, allowing them to have a more immersive gaming experience.”

Virtual reality is another huge development in the online casino space. VR gaming has been around for a very long time now, with Oculus and Sony offering some of the best headsets on the market. Virtual reality gambling is fully immersive, offering users a very lifelike casino experience without requiring them to step out of the house.

One could partake in as many games as they would like to; there’s also much entertainment to be had in terms of musical performances and the like.

VR headsets were not that common a few years ago as they were used by technology-inclined folk and gamers. The fact that such hardware was quite expensive was also very off-putting but they’ve since become way more affordable. It’s not hard to imagine a VR headset becoming a staple for online gamblers as the industry is continuing to pour millions of dollars into virtual reality innovation. Lots of developers are known to be working towards making VR versions for all of their games.

The introduction of esports betting has also contributed to the upward trend. Traditional betting leans towards betting on sports such as football, basketball, tennis, and hockey but the advent of esports has brought punting along with it, and sportsbooks such as Galaxy Sports offer odds on popular esports games such as Fortnite, Counter-Strike: Global Offensive, League of Legends, FIFA and DOTA.

The esports scene has exploded in popularity chiefly due to its inclusivity. One no longer needs to be physically gifted or a supremely talented athlete to take part in meaningful and profitable competition. When it comes to gambling, the bookmakers have come to the realization that they can’t afford to overlook such a vast space, while fans are also quite happy to be able to bet on their favorite teams or gamers.

Photo via:

What’s more, gaming enthusiasts don’t need to take part in any competition to make real money, they can simply choose to take advantage of the odds being handed out. The link between esports betting and online gambling is also growing, bringing yet another group of people to the market.

These are only a few of the features that are helping to make online gambling one of the most popular activities folks engage in. The industry has come a long way, especially with the rise of devices such as smartphones and tablets, which make it so that gamblers don’t need to be rooted to a desk if they want to visit an online casino. The future holds so much more.