What is Online Gambling Industry Today?
Regular, physical casino establishments sweepingly go online. The popularity of the online gambling industry began to spike with the mass popularization of smartphones. Currently, there are expert forecasts claiming that in 2023, the total budget of the online gambling business will hit $525 billion. Such expectations indicate that it may be more profitable for some countries where gambling is prohibited to legalize this type of business and make a profit from it.
Major Tendencies of the Online Gambling Industry
Live dealers online
What is online gambling industry’s hottest modern trait?
Having a live dealer online creates the feeling of a real game, offering some live presence. This trend is called “Live Casino”. What are the benefits of this approach? You can play casino when it is convenient for you online, but with real croupiers. Such games totally outperform RGB-based games because they are simply more “live”. And no worries that the RGB is rigged.
Gambling has always been about “social games” after all, where participants may eagerly communicate.
What is online gambling industry in Telegram?
The online gambling industry has been fast to cover pretty much all the known messengers – Viber, Facebook Messenger, WhatsApp, etc.. But Telegram, of course, is ultimately preferred for gambling, since it has reinforced security of channels.
Players can access game slots and place bets using simple automated commands in the Telegram chatbot, the player gains access to the game slot and can place bets.
Benefits of playing in Telegram:
- Convenience – launch your favorite slots right in your TG;
- Security – TG is renowned for its intricate data protection principles;
- Accessibility – you don’t necessarily need a high-speed Internet connection to play.
The Global Online Gambling Industry in your smartphone
According to the data from We Are Social and Hootsuite, in 2019, around 3,26 billion people regularly go online via smartphones. That’s 10% more than last year.
This is why large operators tend to make two versions of the game at once: for smartphones and computers. A modern smartphone has become so convenient that people use it for everything whenever possible – for music, reading, working, talking, playing, and so on.
VR, AR, & Live Casino
Business owners in the gambling industry are doing their best to “lure in” more players than competitors do. Large online casinos use VR technology to make the game more realistic and vivid. Some casinos that already use the VR technology include Microgaming, NetEnt, Novomatic. Using AR technology, you can create holograms and provide all the effects of being present in the game room.
Blockchain in the Gambling Industry.
Blockchain guarantees high transparency & protection of deals.
This prominent technology allows anonymously storing all user’s game results without a possibility to edit it by some third party.
Anonymity.
Blockchain also provides thorough private user data security.
Fast, 100% successful transactions.
If you play on a resource that employs the blockchain system, you won’t have to wait several days to deposit or withdraw money. In the blockchain system, automated payment conditions are set and autonomously executed. All in all, once you win, you immediately receive win money in your wallet.
Common Issues of the Gambling & Casinos Industry?
Gambling industry problems with verification
Every other country in the world sets its own casino player verification regulations. Countries of Europe and Great Britain tend to have the strictest rules. Government authorities complicating the verification procedure make it difficult for gambling providers to gain new players. The longer people have to wait during formal procedures, the more are the chances that they will leave the resource out of boredom.
Age identification
To address gambling industry problems with age identification, England introduced new rules to confirm age and block access for minors. One of the methods of age verification is to take a photo of your ID.
Great Britain defines the total statistical numbers of young gamblers:
- 36% of children 11-16 years of age spent their money gambling at least once;
- 3% of children 11-16 years of age took part in the instant international lottery while 2% participated in the main international draw game;
- 7% of children 11-16 years of age played via various online gambling platforms.
Casino shutdowns by country
Georgia – this country is one of the main points of the internet gambling industry in Eastern Europe. Initially, the idea of governmental efforts for minimizing gambling rates among the population was to blacklist gamblers for at least a year.
Armenia – In 2019, a law was passed stating that the availability of gambling zones would be limited and prohibited in public places. Also, persons who are considered legally incompetent will be added to the blacklist.
England – Since 2018, testing of the GamStop program has been launched. And since the launch, 50 thousand people were blacklisted.
Italy – also launched a blacklisting program in 2018 that prohibits regular gambling either for a certain period of time or for good. After registering in this database, the player will be blocked on all gambling resources.
Scams in the internet gambling industry.
One of the most popular types of gambling industry fraud is the creation of multiple accounts to use the bonuses that are issued upon first registration.
All in all, if no blockchain is involved, you should realize that you are always in the hackers’ sights when online. And as an owner of a business in the gambling & casinos industry, you should make sure that your platform has an efficient, thoroughly protected authorization system.
Summary
The online gambling industry is developing rapidly with advanced Internet technologies. The entire gaming industry, including gambling, is beginning to actively use VR/AR technology to impress and entertain more and more new eager players. Blockchain may help reinforce the ultimate security of modern gambling resources, enhancing this niche even further.
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