Five Ways in Which Technology Is Rewriting the Online Gambling Industry

The online gambling world is constantly changing. But its increased agility allows it to adapt to new market conditions and the rapid transformations in technology and software.

The digital gambling industry is booming. By the end of 2024, it’s expected to reach £75 billion while tech innovations have a strong impact on its growth.

Over the last few years, the connection between technology and the gambling industry has strengthened. Online casinos are incorporating augmented and virtual reality, wearable gear, blockchain technology, neural networks, and predictive analytics. So, here’s a list comprising 5 ways in which technology is rewriting the online gambling industry.

Virtual Reality and Augmented Reality

Online gambling platforms have implemented augmented and virtual reality features. Augmented reality refers to wagering in 3D mode. For example, Pokémon Go allows you to hunt a variety of characters around your city, in your house or wherever you are. Gamblers enter hybrid environments with digital slots and other table games. But virtual reality refers to a 360-degree gaming environment. Players can experience adventures in virtual worlds. And online casinos have developed digital representations of their land-based locations. So, gamblers can access the online lobby and place bets like they would in a brick and mortar casino.

Wearable Gear

Casinos have adopted wearable technology which improves players’ accessibility to the online gambling scene. You’ll find a variety of gambling apps which connect with wearable gadgets such as smartwatches or Google Glass. Casinos are investing significant funds to bring online gambling closer to their wagering audience, to improve the customers’ gambling experience and increase their sales.

Blockchain Technology

The Blockchain landscape is gradually entering the online gambling world. The distributed ledger technology allows for anonymous interaction and eliminates the possibility of fraud. But it also creates great opportunities for gambling with cryptocurrencies. Players can download casino apps which allow users to use digital coins when placing bets on their favourite games. It’s attractive mainly because of the low fees, no taxes, minimized risk of fraud, and the lack of intermediaries.

Relying on Neural Networks

Because online gambling platforms offer their services and products worldwide, they require huge computing power to enable and streamline the randomization algorithms. So, they rely on Neural Networks to operate these algorithms. It’s how billions of gamblers’ requests are processed internationally. The neural networks enable distributed computing and process wagers immediately without causing any delay or decreased performance.

The Impact of Predictive Analytics or Big Data

Data modelling, which is closely connected to predictive analytics, is the centrepiece of a seamless online gambling experience. Using the right metrics, the online gambling operators can learn more about their customers and personalize their interaction with the online platform. Through data modelling, casinos can modify their games and portfolio to fit the preferences of their customers and guarantee a top-quality gambling session. The process starts from the moment when you create an account and enter your details such as gender, location, and age. The online casino stores the data points in a database which is regularly updated each time you log into your account with metrics such as the time of day when you prefer to play, what games you like, the win/loss ratio and how long you play. By analysing these indicators, online gambling companies tailor an experience specifically for your online persona.