By 2025, industry experts project the global online gambling market will reach around $97 billion. There are many reasons for this growth, such as online casinos offering players a diverse selection of games and bonuses that aren’t typically available at land-based establishments. However, it is also because the industry has capitalized on cutting-edge technologies like software protection programs, live streaming, and digital wallets. In this article, we will look at the industry’s use of these three technologies in more detail.
Software Protection Programs
Casinos are no strangers to using software algorithms and programs to run their games. Currently, all online casinos use a random number generator (RNG) in their bingo and slot games. An RNG is a software algorithm or hardware device. For example, when gamblers play online bingo for real money, the game’s caller controls the action and announces drawn numbers from the random number generator. To ensure RNG software is stable, fair, and capable of working on several devices like smartphones and tablets, online casino operators also use third-party protection agencies like Norton to test and certify their software.
Live Streaming
Live streaming technology has also propelled the online casino industry to new heights. Even though online casinos were successful almost immediately, some gamers eventually missed the traditional casino experience that saw them interacting with other players and the dealers at their tables. Recognizing this and the potential of live streaming technology, online casinos launched live games. These games stream live dealers through a camera and monitor, and online players can interact with them via a text chat box in real-time. Examples of live casino games include live blackjack, poker, roulette, and baccarat.
Digital Wallets
Digital wallets are the future, especially as mobile adoption and usage continue to increase across the world. Reports suggest global total spending via digital wallets will surpass $10 trillion in 2025, and the online casino industry has embraced this reality. Today, online casinos offer traditional payment methods like Visa and online payment systems such as PayPal, Neteller, and Skrill. These online payment systems allow gamblers to make quick and secure transactions at low costs. We are even starting to see some online casinos accept cryptocurrencies as an appropriate payment option; this adoption is likely to increase as blockchain-based technologies like NFTs become more mainstream.
Other Growth Areas
Outside of technology, the online casino industry has also grown through its marketing efforts. Like other businesses, online casino operators have entered into many partnerships and appointed celebrity ambassadors to help build brand loyalty. Often, we see the online casinos that also offer sportsbooks appoint athletes like racing jockeys and soccer stars as their brand ambassadors.
Online gaming has dominated the entertainment landscape for decades, but we have reached a new time in history where online gambling has become the norm. While this may have always been an inevitable transition, online casino operators have sped up their success by using cutting-edge technologies like digital wallets, live streaming, and software algorithms and programs.
