How Technology Will Reshape The Casino Industry
Some gambling operators have explored the possibility of creating exciting, alternate versions of existing markets or brand-new emerging markets.- Published by Kunal Chowdhury on .
Some gambling operators have explored the possibility of creating exciting, alternate versions of existing markets or brand-new emerging markets.- Published by Kunal Chowdhury on .
Technology continues to drive the most severe disruptive innovations in modern history. There seems to have been a steady confluence of how the internet and smartphone technology have helped precipitate the outrageous growth we are currently witnessing in the gambling industry. One component of the casino industry that has drawn some significant praise is how it continues using these innovations to stay ahead.
With billions flowing into digital casinos, operators are working tirelessly to try and identify new, undiscovered corners of the market that can tap into the rich reservoir of potential profit within the industry. Depending on the company, there have been a variety of different approaches.
Some gambling operators have explored the possibility of creating exciting, alternate versions of existing markets or brand-new emerging markets, like eSports, which is professional video gaming. In contrast, others have looked to take advantage of the increasing numbers of casino enthusiasts using cryptocurrency to place a bet.
Gambling with cryptocurrency is the latest ingenuity, but as we have already pointed out, the gambling sector does not rest on its laurels and constantly strives to innovate. Crypto gambling is already catching a new audience because it allows people to connect their wallets without providing personal or financial information and without worrying about a bank delaying the deposit.
Ignition crypto casino includes a range of games where you can use your cryptocurrency to gamble, and although this is a new market, it’s beginning to gain a lot of traction.
Blockchain technology and Bitcoin are reshaping several industries, and the casino industry is currently one of the most significant examples. It’s likely to become one of the most popular payment methods in casino gaming so long as there is clear and lucid regulatory clarity in big markets, such as the United States.
Another positive that many people have highlighted is that crypto casino gaming allows you to connect your wallet anonymously, deposit your funds, and not worry about having your personal data on the cloud if it is compromised and accessed by hackers. If you gamble with crypto, the only information is your wallet address, which is public anyway, so expect cryptocurrency to play a more prominent role at many different levels of the gambling industry.
There’s a key focus on two elements at the moment, the impact of AI (Artificial Intelligence) and the role that VR (Virtual Reality) could play. Both of these changes are in the medium to long term. Although some elements of the casino industry already use AI for specific aspects of gaming, it’s not being utilized in the ways many expect it to be within the next decade.
Virtual Reality is an interesting concept, especially for casino gaming, and given Apple’s pivot into the industry recently with the multi-billion dollar Vision Pro VR headset project, it will cause a domino effect that will inevitably result in more money pouring into the VR casino sector.
When digital casinos first began to gain momentum in the 2000s, physical casinos weren’t overly concerned as they knew they had a solid client base who would continue to frequent their establishments because they enjoyed the feel and atmosphere of a physical casino.
However, VR casinos are a real threat to this. If they can authentically replicate a casino floor and implement the casino games to go alongside them, this could take a considerable chunk out of the physical casino market, and this, again, would reshape the entire industry.
Artificial Intelligence hasn’t been out of the news for twelve months, with billions in fresh investment and further astonishing and slightly scary advances every week. AI could converge with VR to provide lifelike AI dealers who mimic and sound precisely like casino croupiers. Another way AI will transform the industry is by hoovering up large pieces of consumer data and effectively feeding it back to the casino and floor bosses.
AI already does this job very well, but given that it’s set to accelerate in growth, expect it to deliver this information more quickly and efficiently and permeate other sectors of the casino sector too. Combining VR and AI in an entirely virtual casino where you can gamble with cryptocurrency would be a total shift away from the current arrangement.
However, with AI set to become the most critical field within the technology sector within a matter of years, don’t be surprised to see casino operators making a similar switch.
While this might not happen overnight, the wheels are already in motion, with crypto casinos making steady profits using a new payment method. AI continues to play a more prominent role in the technology that underpins digital casinos and drives information collection tools.
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