Whenever we open a news app or see an ad somewhere, it’s about a new gadget, a new gimmick or new technology that promises to change our lives. In the past, we may have just brushed it off, but in today’s world, things are changing fast, and tech is changing our lives minute to minute.
Technological advancements are happening at breakneck speeds in every industry, especially so in the iGaming industry. An example of this would be online casino slots. It’s just mind-boggling how quickly they change, evolve and update. In the not-so-distant past, all a slot needed to be called Egyptian-themed was a pyramid in the background with a few Egyptian symbols. Today, because of technological advances, Egyptian-themed slots have storylines, exciting graphics, a plethora of themed features and much better payouts.
What is driving the growth in the iGaming industry?
We could say it’s us, the consumer, and we would be mostly correct. It’s our need and desire for instant gratification and getting it at the click of a button that drives the growth and evolution of the iGaming industry. This has also forced developers and online casinos to keep offering and improving their latest releases and drawing in new gamers with sign-up offers and bonuses.
Another huge driving factor is the mobile device. Consumers don’t want to be restricted to playing from their desktop computers, and why should they, since a mobile phone is a computer in your pocket? Games are no longer limited to PC gaming as mobile devices got more advanced and developers incorporated mobile-friendly software as standard. These are also no longer sluggish and offer the same graphics and fantastic features as the desktop versions.
Cryptocurrency is gaining traction at online casinos because consumers love the safety, speed and anonymity it provides. Many online casinos are now accepting crypto as a deposit and withdrawal method. Online gambling is a multi-billion-dollar industry, and with a compound annual growth exceeding 11% a year, casinos have no choice but to adapt and include crypto if they want to stay competitive.
Virtual reality games are coming up fast in popularity now that headsets and tech are more affordable than they were a few years ago. Although we can play anything anywhere from our computers and mobile devices, there is a special place for virtual reality where you can play virtually with friends or other gamers in real-time, creating an immersive gaming experience in the comfort of your own home. The VR gaming market will grow at an alarming 32.75% from 2021 to 2027, with a fair chunk of that number going to gamblers joining the virtual reality world in online casinos.
Which technology will lead tomorrow’s online casinos?
The rapid growth in software, devices, internet speeds, and the crypto world will have an enormous impact on the growth of iGaming as a whole, but VR and AR will certainly be at the forefront of technology driving growth in iGaming. It opens a new world of possibilities; one we are excited to be a part of.