Surely technology can make or break an industry those days and it looks like that things are going really well for the online gambling that with the innovations of the last few years has been able to grow at an extraordinary rate. If the trend will continue the online gambling market will be worth a massive £65 billion in 2024. The key driver to this enormous improvement has been that technology has opened lots of doors to a massive new wave of customers and reached a significantly higher audience than the traditional betting shops and online casinos.
Industry experts like John Pentin from CasinoBiggestBonus are predicting that as more and more countries are continuing to legalise online gambling, the size of the cake will increase even further. US, for instance, has passed a federal law back in May 2018 that removes the ban on online betting and now it is down to the different state to decide what to do. Some states like New Jersey have immediately allowed sports betting and the first months of activity have shown that it is a win-win situation for both the operators and the state (which profits from the gambling tax).
In this article, we are taking a close look at how the online gambling industry is growing to unprecedented levels thanks to technology improvements.
Mobile gaming at his highest
If you are over the legal age for gambling in your location, then you will probably be already targeted by some online gambling advertising. A considerable amount of mobile apps have been created, and the technology has allowed a significant improvement over the last 10 years: nearly every top gambling company has now one or more state-of-the-art mobile app that can be used seamlessly on all devices.
Sportsbetting is the biggest market for mobile consumers and it is staggering to think that the vast majority of UK adults is having a bet on sports at least once in their lives. Technology has significantly increased the number of mobile phone or tablet users in recent times and as a direct effect also the number of people betting using those devices: 51% increase in 2018 vs 2017 according to the UK Gambling Commission. This trend is unlikely to change if you consider that mobile devices are becoming as powerful as PCs: placing a bet or playing at online casino and have a great gaming experience is today possible thanks to the improvements of technologies and the gambling industry is cashing in.
It is therefore not surprising to see that all the major sports that are on TV in the UK are full of online gambling advertising. More and more teams are sponsored by gambling firms and whatever stadium we are in we can see banner advertising urging people to bet or to try their online casino.
If before it was necessary for gamblers that wanted to face a real dealer to go in a land-based casino, nowadays this is not needed anymore. Technology has improved to a level that is allowing players to take part in casino games that are streamed in real time from a land-based casino. The experience is so realistic that players can also interact in real time with both the dealer and other players precisely as if they were in a brick and mortar casino.
The arrival of 5G mobile networks will make holographic phone/video calls a reality and you can be sure that this new technology will be immediately integrated into the world of online gambling. After all lots of companies are already exploring how to use virtual reality to improve the gambling experience of their players. By creating a more immersive experience, they will be able to attract also those gamblers that are regularly going to land-based casinos and the younger generations.
Gambling regulations are getting more relaxed across the world and this is also increasing the returns. Europe is by far the most valuable continent as far as online gambling is concerned as it contributes to £15 billion of the market in 2018. This is mostly because in Europe it is pretty much legal everywhere to bet, with regulations that are well tested like in the UK.
Even though the UK Gambling Commission has tight control over the industry, the reach of online gambling is impressive in Britain. It is hardly impossible to stay in the country without being exposed to some form of gambling advertising. US is looking to follow suit.
At this moment in time, four American states have legalised online gambling and more are expected to follow so the industry is going to increase there massively. Countries like Japan are also taking steps to legalise online casinos, and the same scenario is in a lot of African countries.
One of the main reasons why lots of countries are keen to legalise online gambling is that it brings huge revenues that can then be used to fund public services like hospitals, transport, schools and so on.
Technology to continue to shape the industry in the future
At the very beginning, online casinos and betting sites looked very primitive if compared with today’s standards. The technology has improved the online gambling experience massively throughout the last decade.
Nowadays making a deposit into your account is almost immediate and you have a live 24/7 customer support ready to help you with any questions. The online gambling experience has become a lot more interactive with players that can chat with other players and the dealer while watching the game in live stream.
VR virtual reality
At the moment Live Casino is the pinnacle of online gambling technology: as mentioned players are able to have a casino experience which is very close to the traditional one without having to leave the comfort of their homes. In addition to that video slots and virtual games are becoming more and more engaging and in some cases, they do resemble movies. With all those opportunities available from the comfort of their own living room it is not surprising to see why many are preferring online gaming to the real thing.
In the future we expect technology to continue to shape the gambling industry and to drive more and more revenue. After all, this is a trend that cannot be stopped and even where regulations are very tight the popularity of gambling is not reduced.