According to a report by MarketWatch, the global online casino market, such as https://ukcasinosnotgamstop.com/european-casinos-not-on-gamstop/, is estimated to be just under $100 billion in 2022, and is projected to continue its bullish momentum, reaching over $130 billion by 2027, with a compound annual growth rate (CAGR) of 9.9%.
Traditional casinos have been losing popularity for several years, even before the global pandemic forced many land-based gambling establishments to close from players. Both casino customers and investors are increasingly going online to satisfy their gambling needs.
The growth of the casino industry is fuelled by several interrelated trends popular with young gamers that are bringing gaming and gambling closer together – these include the use of virtual reality innovation, the popularity of cryptocurrencies and blockchain technology, the growth of the smart watch market and the acceleration of the gaming experience.
VR (virtual reality)
VR and AR – augmented reality – allow people to gamble in a more immersive way, especially after Facebook announced in 2022 that it was changing its brand name to Meta and creating the Metaverse, making VR gaming available worldwide.
A term first coined decades ago by New York Times writer Neal Stephenson, Metaverse is a proposed virtual reality world where people can have an immersive experience while wearing a VR headset and bridge the gap between the online world and reality.
For the online casino industry, this means that people can experience the sights and sounds of a casino in Las Vegas without leaving their computer, as if they were walking around the establishment themselves, spinning the roulette wheel, rolling the dice and all-in with their stack of poker chips.
Cryptocurrency
The use of decentralised digital currencies has opened up online casinos to more countries around the world, in countries where local financial rules and laws previously made access difficult.
Blockchain technology has also been used to develop demonstrably fair casino games and even cryptocurrency lottery formats that are less vulnerable to manipulation or hacking by the GCF (random number generator). All blockchain transactions can be verified in a digital ledger, increasing the transparency of gambling of all kinds.
Bitcoin casinos have grown in popularity online. The first known online casinos began accepting deposits in cryptocurrency – be it bitcoin, etherium, other altcoins or stable coins such as USDT – along with fiat currency.
Then, entire crypto-casinos entered the market, where players bet in units of BTC or other digital currencies, depositing and withdrawing the cryptocurrency of their choice. This list of 25 such cryptocurrency-friendly gaming sites reveals the intricacies of modern online cryptocurrency gambling.
The anonymity of cryptocurrency, which allows people to achieve financial freedom, is also good for online gambling because, unlike big banks, there is no risk of account closure or blocked transactions when using a crypto wallet if you are lucky enough to enjoy flutter online.
Gaming on a smart watch
Smart watches are gaining popularity, whether for tracking physical activity, messaging or gaming. They are also becoming increasingly powerful. So it’s no surprise that this new class of device is gaining traction in the gambling industry, with suppliers such as Playtech already offering slot machine apps for the Apple Watch.
The benefits for operators are clear. A smartwatch held closer to the body than a smartphone is more attractive to the user, which means they are more likely to play games (while standing in line, for example). The design of modern wearable devices also makes gameplay more appealing than on mobile devices, as players see only the information they need to play and are not distracted by too many buttons.
Real-time gaming
Another trend in casino software that many are probably already familiar with is real-time gaming. Real-time play is a feature used by some casinos that allows the player to start playing before the results of previous games in their session have been determined. This means that he can play at his own pace without having to wait for the cards to be dealt or for the spin to be completed.
This can be a great feature for players who want to fit their games into their busy lives, but don’t have endless hours to wait for one game to finish. However, some players may be concerned that this feature could be used to their detriment.
Real-time games are usually used for simpler games, which are usually found in slot machines and video poker games. Casinos that offer this feature usually let the player know how many live games there will be, so that users can make an informed decision about whether they want to play there.
