The casino industry remains one of the strongest leisure industries. During periods of economic and political uncertainty, we tend to see a huge contraction in leisure and entertainment spending. For instance, the film industry is still recovering from the slowdown in 2020/21 and many movie theatres continue to attempt to find their footings again.
The gambling industry, on the other hand, has a lot more stability. Part of this stability is thanks to the rise of online casinos. Online casinos have been a major source of growth in the gambling industry, particularly in the last decade.
The growth of the online casino market is closely linked with how this sector of the industry embraces technology. Online casinos pay close attention to tech developments and rapidly adopt new technologies in order to remain competitive. A guide like talksport.com provides reviews of all of the new online casinos that have joined the market in the last few years. A quick glance through these listings shows how these new technologies are being employed.
Keep reading to see what new technologies have shaped the online casino industry and promoted its growth in the last few years.
Cryptocurrency and blockchain
Cryptocurrency and blockchain technology have entered the mainstream, even though many people remain unsure about what they are and how they work. Cryptocurrencies are digital alternatives to government-issued currencies. They are produced, stored and transferred using blockchain. The blockchain at its most basic is a ledger or database. It stores information in blocks and connects them in a chain. Since each block in the chain is linked to the next block, it’s incredibly secure.
Crypto casinos are a recent addition to the market, and they’ve already become very popular. They provide people who are curious about cryptocurrencies but unsure about mining or investing with an easy way to get involved. They are also very secure thanks to the blockchain technology that they’re based on.
We will likely see regular online casinos looking for ways to incorporate blockchain technology into their sites soon because it adds security and reduces the possibility of fraud.
Live dealer games
Live dealer games have been the hot trend in online casino gaming for several years. These games feature a real dealer live in a studio or casino. Players can interact with the dealer and the cards or dice on the dealer’s table. It creates a more immersive experience for players.
These games are made possible by combining several existing technologies. Streaming systems are used to film the dealer, optical character recognition (OCR) software converts the images of the cards or dice in the stream into clickable icons for the player, and stable internet connections keep everything happening without any lag or glitches.
We’re already seeing a move towards live dealer games that aren’t just basic table games like roulette, blackjack and baccarat. Games inspired by game shows and board games are already becoming player favourites. The creativity and innovation of these games is something we haven’t seen in the casino industry since the birth of video slots. The possibility of adding a VR element to these games is a likely next step.
Artificial intelligence
Artificial intelligence (AI) is the most talked about new technology. Its potential and dangers are constantly being discussed with no real consensus. AI has already been employed in online casinos. It is currently used primarily for security purposes.
One of the biggest security risks that online casinos face is fraud. AI is a powerful tool for detecting fraudulent activity. AI algorithms are employed to monitor account activity and flag concerning activity such as unusual bets, new winning patterns and frequent large cash transfers.
Online casinos that lose less money to fraud can offer their players better bonuses and better returns. AI is making that possible.
Improved connectivity with 5G
While the conspiracy theorists have plenty of thoughts about 5G, the reality is that 5G is just better wireless internet. 5G has higher connectivity and higher capacity. This means that even when a ton of people are using the same network, users can still get access without lag or other issues.
The rise of 5G has made it easier than ever to play games on the go. A reliable wireless connection has helped online casinos move from solely being a desktop activity to becoming a frequent mobile device activity. With the popularity of app-based mobile gaming, it makes sense that online casinos would embrace mobile optimization.
5G is also going to be a major component in successful mainstream AR and VR gaming. Online casinos have been working towards making their sites more immersive, offering things like the live dealer games we discussed above, and VR casino lobbies are the logical next step. 5G could be the key to making that happen.
Conclusions
The success of the online casino industry has been the most important growth factor for the entire casino industry over the last decade. New technologies have played a central role in that success. If online casinos continue to readily embrace new technologies, it will be very exciting to see how they develop in the next few years.
