Technological advancements have contributed significantly to the evolution of the online gambling industry into what it is today. Statista estimates that the worldwide online gaming market was worth $66.7 billion in 2020. This figure is expected to reach $92.9 billion by next year. If gaming brands want to take advantage of this growth and expand their market share, they must ensure that their products address new online gambling trends.
However, determining whether trends are genuine is difficult. A fast internet search may lead you to assume that emerging technologies such as virtual reality and blockchain are poised to change the industry in the coming years. While their promise is clear, the truth is far more complicated. Furthermore, many summaries overlook the more common trends that matter most because they assume that trends must be spectacular or high-tech.
Virtual and Augmented Reality
Most users were ecstatic that mobile gaming existed even ten years ago. However, digital experience expectations have increased substantially, as has the quality of casino and gaming apps available.
Facebook’s (Meta) unveiling of Metaverse pushed VR/AR even further into the forefront, and it continues to promote deeper immersion in gaming. Virtual reality equipment are already available at several casinos. Because of the many functionalities afforded by Virtual Reality, such as 3D avatars, gesture mimicry, and live interactions, the digital experience now matches the real thing much more precisely.
eSports Betting
Esports betting is a game-changer for betting companies since it allows for new data-driven user experiences, more accurate wagering, and more in-game betting opportunities. Applause just published a comprehensive review of the potential for bookmakers given by esports betting.
Even though esports betting was a big online gambling trend last year, it will continue to develop in the coming years, with Betway among the biggest platforms for eSports betting.
Crypto
Cryptocurrencies like Bitcoin, Litecoin, Ethereum, and Dogecoin have the potential to supplement, or even replace traditional currencies in some areas. However, before accepting crypto payments from customers, online merchants should keep a few things in mind.
Anonymity is a key feature of cryptocurrencies: transactions are untraceable (or at least extremely difficult to track), which makes them perfect for customers who value anonymity. While this is a move in the right direction for data privacy, it is a step backwards for online gaming. KYC standards compel online casinos and sportsbooks to acquire specific information about their clients in order to protect them and avoid corruption. This is almost unachievable with the anonymity that cryptocurrencies provide.
Wearables
Smartwatches are growing in popularity, whether for fitness monitoring, chatting, or gaming. It is no surprise that this new kind of gadget is gaining traction in the gaming sector, with companies like Betway already offering betting on the go.
The benefits to operators are clear. A smartwatch is more handy in the user’s consciousness compared to a smartphone, making it more likely that you can play games on the spur of the moment. The design of modern wearables also makes gaming more interesting than on mobile, as players just see the relevant information for a game and are not distracted by too many buttons.
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