Tech advancements that could affect the future of the casino industry

Everybody can agree that the casino industry is no longer what it used to be many decades ago. If you can remember well, the nightlife in Las Vegas could only be experienced by a tour through the place. But now, technology has changed things, as you only need to simply touch a button and are good to go.

As a result, studies show that over 176 million individuals gamble online actively, with the number expected to reach 210 million next year. Revenue-wise, the global industry now peaks at $305.8 billion, as per a recent study by Statista. So, what technologies might affect this sector in the near future ahead?

The power of mobile technology

At first, we noted that the internet has made entertainment very accessible, regardless of your location. For example, you can now discover great offers at Ontario online casino platforms without necessarily being in that particular region. Now, mobile technology makes this even better because you can even immerse yourself on the go – you don’t have to be in an office or somewhere specific.

This could greatly contribute to the industry’s further spread because of increased availability. Actually, according to some studies, there are regions where 80% of all online gambling activities come from mobile phone users. Realizing this, developers and providers are already aligning by tailoring their products for mobile use.

Remember, modern-day players are mostly multiscreen consumers, so they will want to find similar experiences across multiple screens. The gameplay should not be boring just because you switched from a desktop to a mobile. In fact, if users encounter such experiences on your platform, BuzzBoard reports that up to 61% will never return. So, you can expect to see more responsive online casino designs in the next few years.

Artificial intelligence will not be left out

As customers have become more discerning, how do you ensure you remain relevant? The hack is to understand your audience’s behavior. While this was quite limited in the past, it is now very possible to get in-depth customer information as they interact with online platforms. You can now assess player habits, preferred time of play, favorite themes and so on. That allows you to personalize recommendations and other features like bonuses.

And did you know that offering such experiences could actually increase revenue by 10-15%? This perfectly agrees with a study by Sender, in which 90% of leading marketers agreed that personalization greatly contributed to business success. Since many customers love and expect such experiences, we could see more casinos using them to stay ahead.

That is not all. By now, you should be aware of the growing cyberattacks in the industry. In fact, IT Security Guru recently noted that the attacks have increased by 685%. Well, that does not mean that we are completely helpless and cannot safeguard ourselves. Artificial intelligence boasts the ability to combine different data aspects and derive meaningful insights in a matter of seconds.

So, in case of inconsistent or suspicious behavior, you will be able to notice it in time and apply necessary corrective measures. And now that many threat actors are targeting this sector, more operators may turn to AI to help them with their cybersecurity efforts.

The crypto revolution

What do you think of when you hear the word crypto? Decentralization, isn’t it? This blockchain infrastructure is actually a great solution to privacy, as many players want to keep their activities private. In addition, the cryptographic nature of these currencies ensures that data remains inaccessible even if compromised since the attackers cannot read it.

We have seen that the number of cyber-attacks has increased in this industry, with one major cause being payment fraud. Old payment methods needed several personal details for one to be able to carry out a transaction, thereby increasing exposure to possible attacks. But with crypto, such instances are minimalized because it is not possible to access players’ personal information.

It is no wonder that the crypto gambling market size has already hit the $250 million mark. Just last year alone, more than seventy percent of all crypto gambling was related to Bitcoin. Digital currencies also facilitate fast withdrawals, a feature that many players seek. No one wants to keep waiting for their funds to be processed for ages, while there are technologies that can allow for near-instant transactions.

For operators targeting global audiences, crypto can really come in handy. Especially in financially exclusive markets where players have no access to formal financial accounts, crypto can be a great alternative. Acquiring new players is becoming extremely expensive, so you want to take advantage of every available opportunity to stand out.

The past few years have been quite amazing for the casino industry, especially when looking at the emerging tech innovations. If you could think about it five decades ago, you would probably be unreasonable to consider that players would have access to experiences like nowadays.

But here we are, just about in the middle of a very innovative arena. And who knows? Maybe the days to come will have even more interesting inventions than we can think of.