The global online gambling market is expected to reach a value of more than 92.9 billion US dollars by 2023, almost doubling its worth in the space of a year. This growth is a phenomenal leap for the industry, considering that just a few decades ago, players would need to use dial up internet to connect to their favourite online games, and if someone used the telephone, the connection would go dead.
This growth has been driven by new and innovative technologies that have become readily available, in which the online casino and sports betting sector has been one of the most adaptive and accepting industries of such technology. While brick and mortar casino/bookies profits may be dwindling, the industry has managed to continually expand due to innovation.
Thanks to the huge range of online casinos with a pleasing range games and sportsbook with fantastic of betting odds, punters have never had such an array of choice when it comes to choosing a game or a provider. Below, we’ll take a look at some of the latest advancements that have made online gaming so popular over the past decade.
Payment technology
Just a decade ago, making online payments was seen as often risky, in which there were numerous cases of credit card fraud and stolen identities from cloned payment capture forms. Yet today, there are numerous payment technologies available that have made the online payment princess not only safer but a far easier experience to navigate too.
Today’s payment methods include:
Crypto Payments
Operating via blockchain technology, crypto payments are not regulated by any central bank, meaning that transactions can be made much quicker and that payments are more anonymous. Users never have to provide their personal payment details but instead use currency kept in an online wallet, in which the transactions are much harder to track than regular payments.
Online wallets
Online wallets like Venmo or PayPal enable users to store money in an online space that can be connected to their bank account, but there is no need to enter their card details for transactions. These providers offer an extra layer of protections for online consumers, as well as making the online payment process less hassle too.
Mobile payments
While many stores began accepting mobile payments where all you need is your fingerprint, phone passcode or face ID to activate payment from your phone, however a lot of online casinos now accept this method of payment too. The only limit to this way of paying is that there’s a ceiling on how much you can spend.
Cloud Gaming Technology
Over the past decade, there has been a fundamental shift in the way people play online games. While gamers used to have to visit the website in their browser to access an online game or purchase a physical copy of a video game and install it onto their device, today’s games are hosted on cloud servers like Google Stadia or EA Games Origin platform.
These platforms allow consumers to access a wide variety of games through a subscription-like model, as well as storing gaming data on a much larger computer server so the individual does not have to store any gaming data locally.
Not only does this increase the amount of storage players have to save and backup their games, but it also enables people to experience a higher quality gaming session using the power of another computer server. All you need is a great device to play on and a fast and stable Wi-Fi connection.
AI technology
With billions of users accessing online gaming today, monitoring this activity manually has become too large a task. As such AI technology allows gaming providers to develop ways to provide an enhanced and more personalised gaming experience for users where personalised in-gaming options can be provided.
In addition, AI technology is able to replicate human responses, creating a more enhanced experience for solo gamers with more lifelike gaming aspects and harder challenges within the world of the game.
Virtual Reality
Online gaming at home is a huge convenience, although sometimes the atmosphere of a real-life casino or gaming arcade can be lost. However, technologies like virtual reality are helping to bridge the gap between the physical and digital worlds, providing a more encompassing gaming experience where players are less likely to get distracted by their environment around them and are more immersed in the world of the game.
Overall, the number of new technologies available over the past decade has transformed the global online gaming space. As we continue to see new and emerging technologies innovate the industry, it’s exciting to see where it will take the online gaming sector next.
