As 2023 rolls in, online gambling is set to make various advancements in different areas. First thing first, as per data evaluated by Betway Casino, the gambling industry is set to be worth a whopping $66 billion in 2023. With this staggering growth, it is estimated to hit the $94 billion mark by 2024. Various players in the industry will benefit from it, and big players will compete for a piece of the cake.
For tech developers, there is an excellent opportunity for creating more innovative and captivating games for casinos. To enhance customer experience, companies are incorporating new ideas, including innovative technologies. Now the question arises What are these technologies? How will they impact the online gambling landscape? Let’s take an in-depth look at top trends to look out for in gambling this 2023.
The Rise of Cryptocurrency
By now, most people must have already been familiar with the terms ‘blockchain’ and ‘cryptocurrency. Perhaps, bitcoin is a more known term, but you still don’t recognize what the bustle is all about.
Blockchain is a system that records information in many non-editable blocks, which is impossible to change. It is controlled by various computers, which means it lacks a central location, and the technology behind this is Cryptography used to secure these blocks of data.
In recent years many casinos have implemented this technology in different operations. The most distinguished area is payment. However, blockchain pays out in smart contracts, which makes them safer and faster than fiat currencies.
In terms of security, deposits made by players are much more manageable. They will no longer have to provide sensitive data such as banking and personal information. Since this information is stored in multiple machines, it’s next to impossible to hack or even access data. Therefore, it’s pretty easy to know whether all games fulfill the transparency test.
Cryptocurrencies tend to grab popularity among gamblers; many casinos are now comfortably starting to accept them as a form of payment. While this is the case, only a few provide crypto-only payments, which means that in 2023, this number will only increase.
Increased Live Dealer Games
Before the evolution of technology, players flocked brick and mortar casinos. Apart from slots, player’s favorite choice has always been the tables to play games such as blackjack. However, technological advancement made several leaps within a short period and many games online.
Among them are the table games that constitute real human dealers. The only difference is that instead of having actual humans, the games use random number generators to handle the cards, which didn’t go well with many players.
Nevertheless, we should thank technology; again, it’s now viable to have human dealers at the table. Now live streaming allows gamblers to experience real Las Vegas gambling. The only difference this time, you don’t need to leave the house.
Incorporation of Augmented and Virtual Reality
Virtual Reality is another frontier that has brought a revolution in online gambling. It’s already a successful form of gaming, with several casinos are already incorporating this technology.
This technology creates a whole new environment, a new reality. Many casinos are betting on to familiarized gamblers with an entire unique immersive experience. Poker is a prime example, already using this technology. Many gamblers can share one environment, which improves the overall user experience.
Virtual Reality is only getting started. It’s only a matter of time until players can see each other through this mind-blowing technology. And the future is beyond imagination. You don’t know what to expect!
Augmented Reality is also a new technology, just like Virtual Reality. However, unlike VR, AR is an enhanced version of the actual physical world with added graphic overlays such as images. It’s already been incorporated by the famous Pokémon Go, and now it’s knocking on casino’s doors.
Since this technology is already paved its way into many online games, it’s bound to make live gambling even more captivating. One can imagine having a 360-degree view of his playing environment or even more features that affect gamblers, the table, and staff.
Evolving Gambling Habits of Players
Over time, gamblers’ habits have evolved and continue to grow. One of the significant indicators is the arrival of social gambling and gambling applications. Thanks to new technology, gamblers can now compete on leaderboards and participate in social slots against each other.
Smartphones are getting smarter. It is a huge factor, and most of the population owns a mobile device. It has stipulated casinos to develop games exclusive to mobile phones while the vast majority in the business opted to optimize their sites for mobile gambling. Game developers have begun to embrace this technological change, with many of them concentrating on creating mobile-friendly games.
With such advancement, gamblers can now play their online games on the go. As 2023 kicks off, we expect significant changes to the gambling industry, like new casino titles under old classic genres such as slots, poker roulette, and many more It will bring more investments in the same space.
Better User Experience Through Machine Learning and Artificial Intelligence
Many people use artificial intelligence and machine learning interchangeably; this technology has enabled machines to be even more intelligent. However, it is all about computers that act like the human brain. Further, the computer is first programmed with rules and information that will help it execute a task.
Meanwhile, the computer will process the information and evaluate the information and rules to correct it. The most integral part of the whole mechanism is self-correction that enables the computer to act better in subsequent tasks. This allows gamblers to get a better user experience when playing games.
On the other hand, Machine Learning falls under artificial intelligence. This technology mainly focuses on statistical models and algorithms that allow the computer to execute specific tasks. With this technology, the computer doesn’t need extra learning. Instead, it will analyze the data already gathered to improve future tasks.
To improve customer satisfaction, online casinos are already using AI and ML technologies. One area where this feature is already implemented is customer suggestion. Gamblers can now get recommendations for their favorite games as a result of previous selections.
Another area this tech has incorporated is customer support, where online casinos use pre-programmed chatbots to resolve customer queries. After every question, the bot can learn itself and become better to deal with the following customer query. Furthermore, Fraud prevention and detection will be stopped using AI and ML – a move that will benefit both parties to improve security.