How has the online gambling market evolved over the years?

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The online gambling market has been continually rising fastidiously all around the world, because of its appealing features, user-interface and games. In fact, the market has unbelievably shot up in recent years that technology is also evolving at the same time. Nowadays, players can easily place their bets from the comfort of their home and play real-time online with real dealers and fellow players straight from the desktop or smart devices. 

According to the experts, the massive growth of the gambling market attributes to the gambling regulations set by the countries and the people’s interest in the casino games. Within the span of the last nine years, the online gambling market has increased from $20.5 billion to $55 billion and expects to reach $59.8 billion by the year 2020, and $94.4 billion by 2024. Which means, the online casino business is consistently increasing and is nowhere near to going down the drain any time soon.  

How has the online gambling market evolved over the years?

What can we expect of online gambling in the future?

Considering the growing popularity of online casinos and the lightning development of technologies, the future of online gambling and its expectations are limitless and unpredictable. However, one thing we’re sure of is that we will have more features and game selections on our smartphones, tablets, and desktops. With the increasing rise in the popularity of mobile casino industry, we can expect a lot of improvements and constant innovations in the overall user-experience. Here are some of the futuristic technologies we can expect to see in the industry very soon. 

VR Casinos

By now, we are pretty much aware of the VR or Virtual Reality technology that has already entered other industries. And the next market we are expecting to see VR technology is the online gambling business. In fact, there are already some online casinos that have adopted this technology, which we now call them as VR casinos. Like the modern online casinos, the VR casinos also offer the standard selection of games and bonuses, but a more realistic player experience like in brick-and-mortar casinos. With the VR goggles, players will achieve a groundbreaking experience like walking around the casino, checking the games, placing the bets, and even interact with fellow players. Although the VR casino is not universally known at the moment, in a few years timeslot, this feature is expected to overtake the modern online casinos. 

Digital Casinos

It’s been a couple of years, we are witnessing the rise of the use of cryptocurrency in many areas, and one of them is at the online casinos. There has been a powerful impact in various aspects of the online gambling industry because of blockchain technology. The introduction and usability of cryptocurrencies like Bitcoin have opened doors to the new dimension of the casino world. Wagering with cryptocurrency will not only give you high security, but it will also provide fair and random gaming experience. So, acknowledging all these marvellous aspects that digital casinos can offer, the popularity and demand from the customers are expected to hit the top.

Neural Networks

The online casinos have also started adopting Artificial Intelligence (AI) in the form of Neural Networks, which helps in detecting instances of cheating by the players. By employing this network, it allows online casinos to provide fair and square games to players all over the world, and to achieve more reliable predictions of the players’ behaviour. Unlike the traditional generators, the AI feature will help the casinos to collect accurate data on the players’ choice of games, why they stop playing, and what factors of a game make it more interesting. It will also provide the players with a lot greater personalised experience by allowing them to play in a virtual format, which is tailored according to their personal preferences. Another factor to look forward in this feature is the accurate and realistic odds the AI will incorporate for both the casino brand and the players. The AI software feature will also help identify and warn possible gambling problems of a player, by notifying and preventing them from getting into serious troubles.

The future of the online gambling industry is definitely bright, with lots of expectations from the users all around. As the gambling industry is becoming widespread year after year, the technologies and innovations of online casinos are also advancing to its next level. Though we cannot come to a firm conclusion on how the scenario of the gambling world would be in the future, we sure do know that there will be some groundbreaking innovative transformations. 

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Review Summary

Review Name : How has the online gambling market evolved over the years?

Author : Julie Oliver

Published Date : 05/09/2019