The total value of
the global online gambling market is forecasted to rise to $81.71 billion by
2020, which represents an 85% increase from the $44.16 billion it was worth
back in 2016. There are a number of reasons why the online gambling market has
enjoyed exponential growth over the last few years - more and more customers
are now making the shift from brick-and-mortar
establishments to online sites due to increased convenience, a wider
variety of options and a growing number of bonuses and promotions which are
available exclusively online.
However, in such a fast-paced industry,
online casinos are constantly looking at new ways to not only entice new
customers but to keep existing ones too and with that being said, below are
three of the most important new trends in online gambling which companies hope
will maintain the popularity of their online casino platforms.
The Long Overdue Emergence of Virtual
Reality
Ever since Oculus broke onto the scene back in 2010 with
their Rift headset, we've been hearing about how virtual reality is going to
change our lives in ways we never thought possible. While other technology
giants such as PlayStation and Samsung have developed and released their own
headsets, it feels like the last 8 years or so have delivered very little on
the promises that were made when the technology first burst onto the scene.
However, in terms of gaming and the online casino arena in particular, this all
looks set to change.
Analysts at market research firm Technavio predict
that the VR gambling market will achieve a CAGR (compound annual growth rate)
of around 55% by 2020 and a spokesperson for the company went onto add that
more and more online casinos are starting to embrace VR technology, with
"Virtual Zone" from Boyd Gaming being a good example of a VR-based community
experience in which players can compete with each other in virtual arenas for
real cash prizes. The next decade or so is arguably the most important and
challenging period in the history of virtual reality but if executed properly,
the technology could alter the online gaming landscape indefinitely with
immersive VR slot games such as Jack's World.
A Wider Variety of Games
It's already a
well-established fact that more and more players are using online casinos due
to the wider variety of games that are available when compared to some of the
most popular land-based casinos. However, in order to maintain the interest of
the paying customer, newer and more innovative games are constantly being tried
and tested in order to ensure that online casino caters for even the hardest to
please gamer. Gaming developers such as NetEnt and
Microgaming are the forefront of the development of online
casino games, with the latter placing an emphasis on themed slot games such as
Jurassic Park and Tomb Raider as well as constantly improving some of their
well-established titles. In addition to this, firms such as
Betway Casino continue to offer many
different variants of traditional casino games such as baccarat, while also
allowing customers to enhance their online experience with live versions of
three-card poker and Texas Hold'em. With companies seemingly choosing to focus
on making their casino games more interactive and realistic to the user, there
are numerous new possibilities which will only enhance an already diverse
gaming portfolio.
Increased Security
Despite the fact
that online casino is getting more popular, there are a number of gamers who
refuse to make the switch from land-based establishments due to the fears over
security and the transferring of funds online. The increasing prominence of
online casinos has also lead to the rise of low-quality or even fraudulent
websites and many of the industry's big players have vowed to do all they can
to crack down on this malpractice which can drive away potential
custom.
While the major online casinos take the security of their own
sites very seriously, they are always looking at new and improved ways to
secure the transfer of funds when it comes to their real-money games and
cryptocurrencies are helping to ensure that this is the case. When it comes to
ubiquitous cryptocurrencies such as Bitcoin, players benefit from the fast
processing time, secure transfer of money and anonymity that it brings, while
online casinos benefit from the relatively low cost of Bitcoin-run projects and
ventures.
Trends Come and
Go but Online Casino Is Here To Stay
As is the case with any
trend or fad, it's difficult to predict what's next and in rapidly evolving
industries such as online casino, it's virtually impossible to fathom where we
will be within the next couple of decades or so. One thing that we can
accurately predict, however, is that online casino is going nowhere and with
companies constantly expanding their gaming
portfolio and looking for new ways to entice potential customers, there's
plenty of room left for growth in what is one of the world's fastest-growing
sectors.
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