How Tech Start-ups are Fuelling the iGaming World
The online gaming industry is totally reliant upon the technology sector. Where tech improves, so does online gambling. There aren’t many industries or businesses that don’t rely on technology in this age. Whether that’s for data, marketing, content, or payments to the further development of their apps, websites and user interfaces.
Companies like NetEnt have made great use of technology to provide extremely high-quality slot machines. They are behind the majority of slots on DraftKings casino.
It’s been a busy few years for the iGaming industry in the US. Legislative changes have opened up the door for a fully regulated multi-billion-dollar online gambling industry. The US has long had a relationship with gambling, you only need to look at Las Vegas for evidence.
Now in the US, there’s a new landscape being laid out for gambling fans, and it’s all online. There’s also a technological battle going on between the operators who are competing for customers – it’s the operators that can make use of the technology best that will take the biggest slice of the pie.
There has been a huge amount of development in recent years, one of the biggest technological advances that has helped the iGaming industry is the smartphone. The smartphone allows users to gamble whenever they want, from wherever they want.
The ease of using apps, the simple and safe deposit methods and the rise of betting culture have all played a part in the massive expansion of the online gambling industry. There are few industries that have benefited as much from the development of smartphone tech as iGaming.
There are lots of new technologies coming to the forefront that could have a further impact on the market, AI, blockchain, virtual reality, and alternative reality, to name a few.
Blockchain is considered to be one of the next big things that will hit the iGaming market. Whilst some may still not have confidence in crypto and may consider it unstable, its potential as a form of decentralized banking and the idea of blockchain betting is seeing more and more operators make moves in the field.
There are a number of cryptocurrency-based operators popping up everywhere, and there seems to be an appetite for more. Many business across the globe have seen the benefits of using blockchain technology to reduce costs and improve supply chains.
Artificial Intelligence has been met with a lot of scepticism, but it could be one of the most transformative technologies for the industry. With its ability to understand customers and for strategic automation, AI could change how both operators and gamblers go about things. It will create a more holistic view of players and how they gamble, so operators can better understand how to cater to these wants and needs.
Probably at the bottom of the list and still some way off from being easily accessible and fully functional for the ordinary gambler. However, there is huge potential in the field. Whilst VR and AR headsets and equipment are still pricey and somewhat of a gimmick, with most of the games lacking in quality, there is lots of room for growth.
With the prices for the equipment dropping and the technology improving, could it become a part of the mainstream? There is certainly a lot of appeal to the idea of putting on a headset and being transported to a casino floor in Monte Carlo.
Safe Deposit Methods
Technology is helping address one of the biggest issues in any industry that involves finances, customer safety. In the modern age there is a vast amount of tech to protect customers and provide them with a variety of safe, different ways to deposit their money.
Operators accept nearly every form of reputable payment method – from traditional debit/credit cards, Play+ Cards, E-wallets and Cryptocurrencies.
There has been unprecedented growth in the iGaming industry worldwide in recent years, and with the advances being made in technology, there should be even more growth on the horizon. Operators are constantly using tech to find ways to improve gamblers’ experience using their apps and sites. With some of the technology that is now being used, the quality of games available to customers will only improve.