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Gambling has been around for thousands of years. Previously looked upon somewhat as a taboo, the stigma attached to gambling is fast fading away as more people embrace it. Today, the gambling industry is worth billions of dollars, and it is projected that the value will only continue to increase.
Technological advancement has played and is still playing a significant role in the growth of the gambling industry. The technological space is dynamic, so both old and new online casino establishments have to keep up with the latest technologies to make their services more appealing to customers.
This article will provide a general overview of the impacts of technology on the gambling industry.
Ways Modern Technology Has Impacted the Gambling Industry
Here are just some of the most noteworthy ways in which modern technology has revolutionized the gambling industry:
Artificial Intelligence (AI)
Artificial intelligence technology is being utilized in various ways in the gambling industry. They play a part in helping gambling companies improve their services by tracking user behavior and gathering data on customers. AI also moderates many casino games.
Additionally, AI equally helps in the delivery of fast and efficient customer services. Chatbots, which are available on most gambling websites, have been employed in handling customers’ inquiries. Only if a chatbot cannot satisfactorily handle an inquiry, the customer is transferred to a live agent.
Live Streaming
Streaming has become a part of our daily lives. Popular movie streaming apps like Netflix, Amazon Prime, and Hulu most likely ring a bell. As unexpected as it may seem, streaming has found its way into gambling with the introduction of live dealer games —real-time casino games handled by a croupier that can be streamed via a gambling company’s website.
The games are conducted in a casino studio or land-based casino. Some games that are available in live-dealer format include roulette, blackjack, and baccarat. The main reason why live dealer games have become popular is because they offer gamblers the experience of playing in a physical casino without the possible inconvenience of having to go and visit one.
Mobile Gaming
We live in a world where more than 50% of the population own a smartphone or some other mobile device. In contrast, much fewer people have personal computers. Considering these factors, it simply doesn’t make sense for gambling companies to neglect or exclude mobile users.
Most gambling websites are now mobile-friendly. Some gambling companies have even gone a step further and developed their own mobile applications. Supporting mobile gaming promotes inclusivity and allows people to play on the go when they don’t have access to or can’t use their computers.
Cloud gaming is a form of gaming where game data is stored and can be accessed from remote servers. This has eliminated the need to download large game applications or spend a fortune on high-end PCs. Since data is stored in the “cloud,” it can be accessed from anywhere, meaning that you can access and play these games on any device. All you have to do is have access to the internet and log into your account.
Cloud gaming is done online. Therefore, it requires a stable and fast internet connection for an optimal experience. Thankfully, 5G is more than up to the task. 5G is incredibly fast —100x faster than 4G— and can reach an insane download speed of 10GB per second.
Virtual and Augmented Reality
Virtual Reality (VR) and Augmented Reality (AR) are technological advancements that are set to revolutionize the gambling industry, as well as the rest of the gaming world. With the aid of a VR headset, players can immerse themselves into a 3D virtual world where they can interact with in-game characters and objects.
This technology is yet to be largely implemented in the gambling industry. However, plans are underway to achieve this. The real-life casino experience that virtual reality offers is something that many punters can’t wait to experience.
More Payment Options
Thanks to technology, gamblers now have a wide range of payment and withdrawal options to choose from. The most frequently used cashless options are debit/credit cards, e-wallets, and third-party services like PayPal.
Many gambling sites accept cryptocurrencies like Bitcoin, Dogecoin, Ethereum, and Ripple. These cryptocurrencies are built on blockchain technology. When it is available as an option, many gamblers prefer to use cryptocurrencies because of their numerous advantages. Cryptocurrency transactions are generally anonymous, faster, and more secure.
Security
The fear of having sensitive and financial information compromised or even stolen discouraged people from making online payments and deposits in the past. However, technologies like SSL and TLS have made it harder for cybercriminals to hack websites and access people’s financial information. In countries where the government regulates gambling, it is usually mandatory for gambling sites to comply with the standard online safety practices.
Unfortunately, threats of security breaches and hacks are not the only thing punters have to worry about. Unscrupulous gambling companies often misuse and resell data collected from their customers. Laws such as the GDPR have been implemented to curb such activities.
High-quality Graphics and Audio
The use of high-definition graphics and 3D in game development has transformed the experience for many punters. Gone are the days of 2-dimensional unrealistic images. Games are much more realistic and visually appealing now.
Audio equally plays a part in providing an immersive gaming experience. Luckily, it has been getting the attention it deserves from developers. For each game, a soundtrack that fits it is carefully composed and integrated. Great audio and high-quality graphics go hand in hand for the best experience.
Conclusion
Modern technology has become the backbone of the gambling industry. According to Statista, the gambling industry is expected to grow from $59 billion in 2022 to $92.9 billion in 2023. There is no doubt that this mega growth will be driven by technology. From all indications, the role of technology in the gambling industry is not ending anytime soon.
Ross is known as the Pambansang Blogger ng Pilipinas - An Information and Communication Technology (ICT) Professional by profession and a Social Media Evangelist by heart.
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