The online casino market is one of the hardest to touch in terms of capital growth. Global gambling revenues (the gaming industry, for example, online casinos) are expected to reach $525 billion by 2023. For comparison, in 2014 the figure was $450 billion. An increase of $75 billion represents some serious growth.
Bilderlings explored how innovations in gaming are changing the global picture of this online business.
I carry my casino with me
In 2018, Forbes experts forecast the rapidly growing role of artificial intelligence and chat bots in online casinos and iGaming around the world. And there is a clear trend: everything in the industry is growing with the development and improvement of various virtual reality applications – VR.
The active use of cryptocurrency in the online gaming space is helpful as well. It is already clear that in 2019 online casinos will receive more payments in Bitcoin, Litecoin, Ethereum and other cryptocurrencies than in traditional fiat currencies. For example, in the Evolution Gaming online casino system it is directly stated that those who make bets in cryptocurrencies have better chances for growth – in roulette, poker, blackjack, virtual gaming machines. Express payments in online cryptocurrencies give the gaming industry a strong impetus toward development.
Cross-platform games definitely show a clear development trend. Mobile iconic gambling through smartphones is on the rise. Online casinos are increasingly adapting to the ever-changing needs of players. More than 50% of online gambling revenues now come from mobile devices. Gamblers want the ability to literally “carry the game” with them – and to make bets at any convenient time and from anywhere – be it an office, a home or park.
Resourceful Asia in the globized world of gambling
Europe is leading in online gambling, with a 53% share of the world market. It is followed by the countries of Asia and the Middle East; North America holds about 11% of the total market. The development of the Asian online gaming market is artificially held back in most countries by government agencies, although the countries’ leaders recognize that the prospects for this market are enormous.
The presence of online gambling in Asia this year has become more visible. The betting agencies are inundated with bets from the growing Chinese middle class, the number of which exceeds 400 million. The number of players from still partially closed to the global gaming industry countries in Asia, for example, India, Japan and Thailand, is growing as well. The number one social and payment network in the region – WeChat – is already launching new legal applications for users’ bets in online casinos.
In China, state lottery, sports, and mahjong (Chinese game with dice for four players) bets are allowed. Western online casinos are prohibited, so Chinese players use proxy gambling (playing online through an intermediary) for betting on Western websites. It is also obvious that the expansion of Western gambling companies to Asian countries is occurring with implementation of new global technical solutions.
Artificial Intelligence tactics
It is worth highlighting three important points about artificial intelligence in gambling companies’ business development.
First. Acquisition marketing – the marketing of attraction. AI analysis of game patterns for each unique user. It is automatically calculated which of the online casino’s ideas yield the best results for attracting a new participant to a game.
Second. Retention Marketing is a client retention technique, where with the help of AI more new clients are attracted by instantly analyzing the anticipated behavior of players.
Third. Fraud Management – AI fraud risk management, which has recently become a very important security provision in online casino systems.
The use of bots in online games continues. High comfort and user confidence in new products and AI technologies more and more effectively erase the boundaries between online and offline.
Additionally, machine learning is growing every day. The synthesis of functions – AI image recognition and its ability to process data in real time – is also improving. Smart-identification of users, integration of payment solutions with confidential accounts and users’ open profiles in social networks are the factors thanks to which the first roles in gambling are more and more confidently being given to machine learning.
Online casino operators are also paying more attention to safety in technological solutions. In 2019, the technology of secure login to the system remains at the center of online casino operators’ attention. The goal is to allow players to quickly enter the system without having to re-enter their user name and password.
Biometric solutions for confirmation of users’ identity by face scan and fingerprint, which have been successfully tested and implemented today even in the budget line of smartphones, are increasingly used in online casinos and allow players to get quick access to their accounts in games.
The virtual world is merging with the real one
Live dealer games are extremely popular with online players today. They get to feel like they’re in a real casino. VR tech live dealer virtualization solutions are being developed to take this experience even further. As of this year the American casino Golden Nugget has begun offering online roulette with a dealer in New Jersey – directly from the casino instead of the usual virtual casino studio.
Virtual reality is making huge strides in several areas, including the online gambling sector. Some games and casinos are already specifically created in such a way that players can use virtual headsets to participate in games. Virtual reality is undoubtedly the future of online casinos.
VR technologies are used in various industries. According to some estimates, by 2020 more than 100 million people will use VR technology to assist with online shopping. Now imagine how important this figure is for an online casino system. Users have the opportunity to immerse themselves in gameplay. Take, for example, the slot Jack and the Beanstalk from Netent or It Came From Venus! from Betsoft with their three-dimensional graphics and intuitive settings. Software developers have already produced numerous games that fit perfectly into the virtual world.
Thanks to consoles such as the Oculus Rift, HTC Vive and PlayStation, VR Tech is now a norm in the global gaming industry. Samsung Gear or Google Cardboard are good choices for simple games with less visualization and more movement in space. The stand-alone Oculus Go and Daydream headsets, which debuted in 2018, open up a trend towards improved stand-alone headsets that do not require connection to PCs or smartphones (they can be integrated not only with arcade games or shooters, but also in the gambling field).
To earn with the help of watches
The latest trend is linked with the development of the IoT. With all the convenience of smartphones and tablet PCs for players, the gambling industry is looking for other online devices to tap into. Virtual reality is one thing, but how can one place bets through smart watches? Easy, as it turns out! British experts at casinositesuk.com believe that watches will soon overtake other devices.
It is predicted that the global smartwatch market will reach $19.62 billion by 2020. Analysts from Microgaming talked about this back in 2015.
So now fewer and fewer obstacles stand in the way in the world of gambling. As they say, if there is a desire to play, it will be satisfied – either with the help of artificial intelligence or an intelligence that is quite real.