How does the future of the online gambling industry look like?

Gone are the days when you wanted to gamble, you had to go down to a casino or use other offline methods. Today when everything is going digital and online, its effect can also be seen in the gambling industry.

The online gambling market is estimated to be around $40 billion worth and this will continue to grow in the future as well. With the kind of technology available to us today, one can create an unimaginable environment for people who enjoy gambling. What was once taboo or illegal is now a form of online gaming. So, let us take a look at what the future holds for this industry.

Online gaming in smartphones

The current number of smartphone users all over the world is estimated to be around 3.5 billion. With such a huge audience, the online gambling industry can do wonders in the coming years. Since everyone has a smartphone in their hands these days, it is predicted that if the online gambling industry shifts to a smaller screen, the future will surely be brighter.

From 2016 to now, the number of people in the US who gamble online has gone up. This increase is evident in the revenue generated. This also means that more and more people are using online gambling sites. Due to the increase in gaming apps on smartphone devices, creating online casino games and betting games can prove to be a good step.

Sports and casino gaming in one

With online gambling sites and platforms, you can access many other things that may not have been possible otherwise. Before, people had to visit different betting places or use other methods, which was mostly illegal.

But ever since sports betting has been made legal in many countries, the scenario of betting has changed and it is important to note the impact it can have on the entire online gambling industry. There are online betting games where you can bet on a live game as well. One could play a bunch of different games and also earn money by betting on them. The enthusiasm with live matches is a different experience and being able to bet on it from the comfort of the home is another boost in terms of the user experience. With all these gaming apps or sites available to the general public, the online gambling industry can surely see a rise in their market.

The influence of technology

The future of the online gambling industry depends on the advancement and usage of the latest technologies available at our disposal. Since the gambling industry involves monetary transactions, it can be said that the usage of blockchain technology will also bloom along with it. With faster and easier ways of transactions, the online gambling industry is sure to raise the revenue bars in the coming years.

The ease of money transfer, cashless transactions that take place in online betting games or online gambling sites is just another step for great user experience. The number of people using a certain service is directly proportional to its user interface and experience. Hence with easy online transactions, it becomes easier for the people to use a site or an application which in return would mean more people joining in.

Virtual Reality

Virtual Reality is by far one of the fastest-growing technologies and will continue to do so in the future with an estimate of it reaching $571.42 billion by 2025. We did see games like Pokemon go which had the world taken by surprise and will be seeing more applications, games like it in the future as well. Then how will this affect the online gambling industry?

With Augmented and Virtual Reality systems, one could experience live games for betting, live gambling places, and direct interaction with people from around the world. This experience will only bring in more people worldwide to play and gamble. We know that Las Vegas is a dream place for gamblers or otherwise. The casinos have created their reputation worldwide and to be able to access all of that without actually being present there will take the user experience to a whole new level. Not everyone can afford to fly to Las Vegas but it is obvious that everyone wants to experience the feel of Vegas once in their lifetime and AR/VR will make that possible which in return will help the online gambling industry to grow in the future.

Final words

Nothing can beat the experience of living in the moment and gambling physically. But with the world around us moving so quickly, everything is getting digitized. It would be appropriate to say that the gambling experience is likely to change as well. But it will definitely change for the better.