We think of iGaming as an area of technology that has taken off in the past decade or so. In some respects that’s true, in as much as the smartphone era has made all online activity, including online gambling, accessible to all.
Yet people were gambling online way back when Nokia ruled the mobile phone roost and Mark Zuckerberg was a kid in the 5th grade. Microgaming developed the first online casino in 1994, and although it is fair to say the games were rudimentary, they operated on the same basic principles of a random number generator being used to deliver fair results to a slot game or roulette wheel as they do today.
Beyond that, however, Plenty has changed since then. Today, the iGaming industry is worth well over $50 billion per year and analysts predict it will be worth three times that in 2030. Online gambling is properly controlled and audited by regulatory bodies around the world and more countries are drawing up legislation for safer iGaming every year.
But at its heart, iGaming is all about the technology. That’s what is truly driving its evolution, and it is also driving more and more people to give it a try. We will examine two specific areas that are instrumental in the continuing iGaming transformation.
Blockchain taking a front seat
The first Bitcoin casino launched way back in 2004, so gambling with crypto is nothing new. However, over the past two years or so, crypto casinos have developed from niche curiosity to mainstream preference for a growing number of online casino gamers. Using Bitcoin or an Altcoin means instant transactions, enhanced security and player anonymity, so it makes a lot of sense.
Blockchain in casinos means more than just gambling with crypto, however. The new generation of crypto casinos are built entirely on a blockchain ecosystem such that the games themselves are governed by smart contracts and there is no need to switch from crypto to fiat currencies when it comes to playing the game.
5G could make VR casinos a reality
We mentioned earlier that the advent of mobile internet really pushed iGaming to a new level in terms of accessibility and convenience, bringing the fun of the casino to new audiences. Today’s mobile casinos are truly awesome, featuring thousands of slot games and live table games.
5G technology will help mobile casinos fully realize their potential, putting an end to network dark spots and, potentially allowing developers to finally make VR casino gaming a reality. VR has been around a while now but still can’t quite crack the mainstream. 5G could be the missing piece, delivering the high bandwidth and low latency that VR needs in order to truly deliver on its potential.
A world of opportunity
iGaming generates billions in revenue and it is a brutally competitive market. Casino companies will stop at nothing to gain an edge. It sounds like a tough environment for those working there, but means iGaming remains at the leading technological edge. That can only be good news for those of us who enjoy a spin of the reels or a turn of the cards.
