The online gambling industry is a fast-moving sector where new operators are joining in on a regular basis. To stay one step ahead of the growing competition, existing players have to keep innovating while making use of new technologies.
Live casino play and in-play sports betting are two recent additions to the rosters but, perhaps, the most useful innovation for customers has been the introduction of the mobile app.
Your Flexible Friend
Convenience and flexibility via these apps have made it easier than ever to get into your sportsbook account and place a bet. With just a couple of taps, the markets open and stakes can be accepted in seconds.
This is especially important for live markets. When betting in play, odds can change frequently, and a mobile app helps players keep pace. Many would argue that this is the best piece of technology currently available to bettors, but will there be some stiff competition over the next ten years?
Virtually There
The concept of Virtual Reality may finally be set to realize its full potential over the course of the 2020s. VR has been around for years but it has yet to really revolutionize certain industries in the way that developers may have hoped.
The reasons for that may include the cost of equipment and the unwieldy nature of early designs. Across the next few years, all of that could change.
With cost effective headsets and easy access to online supporting platforms, the gambling industry could be transformed in the years ahead. Recently, live casino has been one of the most popular options on an operator’s platform.
Live casino rooms are accessed online, and the player is met with real life tables and professional dealers. VR could take that a huge step further with the potential to take players inside that room.
It’s the same with sports betting: The feeling of being there and soaking up the atmosphere is something that Virtual Reality could implement in the very near future.
A New Frontier
In 2020, Facebook founder Mark Zuckerberg announced that his social media platform would henceforth be known as Meta. The overall Facebook structure is now referred to as the Metaverse and it holds the potential to change the gambling landscape beyond recognition.
The new Facebook holds a key to many doors: Firstly, it is the perfect platform for Virtual Reality and all the potential benefits that we’ve just seen. The Metaverse can also be more flexible in regard to Cryptocurrency. Many casinos now accept the likes of Bitcoin and the more ‘mainstream’ options, but Meta can advance this area in the way that traditional operators can’t.
(Zuckerberg shows us the way)
In short, the Metaverse is a new, and far more flexible platform. It could be a serious game changer for the gambling industry, along with other sectors.
Non-Negotiable on Non-Fungible
The new Facebook may also be a promising platform for the rise of NFTs. These Non Fungible Tokens are unique pieces of work that have come to prominence in the last two years thanks to the involvement of more mainstream creators.
It may not be immediately obvious as to how a sportsbook or online casino can harness the power of NFTs, but some operators have already taken the initiative. There are marketplaces already online where customers can join the queue to purchase some unique products associated with their favorite athletes and teams.
Adopt and Adapt
New innovations will be seen while the gambling sector will also develop technologies that are already available. Artificial intelligence is already in place and is used to suggest similar games to titles that the player has previously chosen.
In the future, AI can be used to a far greater extent: It’s claimed that the technology will be harnessed to give a clearer indication of staking patterns and to indicate which markets are seeing the greater interest.
There are no guarantees when it comes to ‘following the crowd’ but this could certainly be useful information for prospective punters.
Elsewhere, safety has always been a high priority for online operators, and this is set to be strengthened over the course of the next decade. External payment methods, where the security may not be as strong at the provider’s end, are set to be tightened up.
There will always be room for improvements on existing infrastructure, but the really exciting developments will come from new technologies. Virtual Reality and NFTs will be at the forefront while the Metaverse should offer a whole new blank canvass for the gambling industry to play with.
More additions, as yet unknown, will surely follow and the 2020s will be a pivotal decade for the sector.
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