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Tech Innovations in the Gambling Industry

22 Jun 2020 Developer News
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Technological innovations that change almost every area of our lives make their presence felt in the casino industry as well. As nearly half of casino visitors play slots, according to recent statistics, producers of slot games try to make them more and more technologically advanced and graphically appealing. Designers of slot games know that gamblers are familiar with the latest technological trends in the world and, therefore, follow them, too, in order to retain their interest. To cater to gamblers’ tastes and demands, producers of casino games are also introducing new concepts to online gambling. Like the film and the fashion industry that are beginning to use cryptocurrency, the gambling sector is also expected to accept virtual money in the near future.  What is even more exciting is that the online casino industry goes where other industries fear to tread: it invites customers to gamble in virtual casinos, a kind of amalgamation of online and brick-and-mortar casinos, where they can have the best of the two worlds.  

Although none of the new online casinos 2020, called in Finnish “uudet nettikasinot 2020,” has started accepting bitcoins yet, many casino operators are considering the possibility of introducing cryptocurrency payments. When online slot platforms offer real money gambling contents, they rely on payment processing services. Now some of them are starting to accept Bitcoin as a payment method. As a cryptocurrency and a decentralized transaction processor, Bitcoin is considered a trustworthy payment option. Legal in Finland, Bitcoin is indeed deemed a reliable payment instrument by some local businesses. Meanwhile, however, there is no regulated casino in Finland that accepts Bitcoin or other cryptocurrency, although there are several Bitcoin ATMs in the country. Finns can make cryptocurrency payment transfers only to foreign virtual casinos, such as GT Bets, for example. 

The cryptocurrency payment system is based on the blockchain grid, in which data is processed from one e-wallet to another. These e-wallets, a type of electronic card, can be either hardware and thus store the player’s private keys in a secure hardware device. Or they can be cloud-based, in which case, players need to trust the third party with their private keys. In comparison to regular payment processing services, the cryptocurrency payment has certain evident advantages. These advantages are anonymity, speed, and security. The online gambling industry certainly strives to provide anonymity, high speed, and security to its customers and, therefore, will soon offer cryptocurrency payments among its other services.   

Another exciting innovation in the online gambling industry is Virtual Reality casinos. Virtual reality casinos mix together features from land-based and online casinos. Brick-and-mortar casinos are exclusive and sophisticated, whereas online casinos are loved for their convenience and efficiency. Combined together to create a new type of casino, these features give customers a unique experience, which they can gain through the Oculus Rift or the PlayStation VR.

When they use one of these two technologies, players will be able to enter the simulated environment of any real-world casino they can think of, be it Caesars Palace in Las Vegas, City of Dreams in Manila, Venetian Macau, or Casino Helsinki in Finland. Though sitting in front of their computers at home, gamblers will be deeply immersed in the 3D world of their favorite casino. They will interact with the casino’s environment, feeling as though they are truly playing inside its physical premises. Designers expect that gamblers’ experience within Virtual Reality casinos will be meaningful and unparalleled.  

All technological developments in our times are fast-paced. It is, therefore, difficult to predict where technological innovations will take the casino industry in the near future. What is certain, however, is that casino operators will do their best to keep up with future technological innovations in order to continue attracting their customers.  

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