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The Evolution and Future of the iGaming Industry

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iGaming Industry
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Technology has been advancing in leaps and bounds since the past decade. With proficient and formidable interfaces, the iGaming industry is one of the fastest-growing sectors. According to the trend analysis research conducted by the Transparency Market Research, the industry would grow to a whopping value of US $100 billion at the end of 2024. The sector made records in 2016 by setting a market value of approximately US $41.68 billion. In spite of battles with the governments of several countries, the growth of the industry is unhindered and diversified.

What is iGaming?

iGaming or online gaming is playing games or betting on the outcome of a game over the Internet. iGaming is not just limited to sports betting like the NFL but also extends to online casinos where players wager bets on games such as Roulette, Blackjack, Poker, etc.

The most popular gaming hubs are in Malta, Gibraltar, and the UK. The revenue and market size of the industry is currently at par with the global film and music industry or maybe more.

Evolution of the iGaming industry

Games, sports, and competitions have been a part of human history. Unsurprisingly, the advancement of technology meant that gaming also changed course to create a prominent presence on PCs, smartphones, and tablets. As innovation and interfaces upgrade, the accessibility and creativity expectations of iGaming are also above the normal gaming levels.

Present-day gaming

Thus, the tech-savvy generation of gamers and players insists on mobile-friendly, uncomplicated, quality games. Improved mobile hardware and powerful graphics create an atmosphere of intense competition for perfection.

For gaming operators of online casinos, this demand laid out by the gamers aggrandises the competition. The expectation is that they should give gaming deliverables, which replicates the environment of land casinos. Players also insist on secure and SSL encrypted gaming websites. Hence, online game developers may devise secure platforms without compromising with the look and feel of the game.

Future of the iGaming industry

With the aspiration of addressing the needs of the tech-savvy players, online game operators, and even the most significant search engines are leveraging the interest. Have you heard of Google Stadia? It is an online stadium where gamers can play, compete, cheer, and do all the other gaming activities as if they were in a land-based casino. In a few years, we may just have an online Olympics.

Two popular gaming options and what you can expect in the future

Augmented casinos

The augmented reality equipped casinos give players a 360-degree experience of an online casino. They harmonise with realism remarkably – a simple turn by the player can reveal the casino staff data, table details, other game details, etc.

However, augmented reality is under development, currently. Players still require additional accessories such as special glasses or headsets for a complete experience.

Blockchain casinos and cryptocurrencies

Some advanced gaming platforms also incorporate digital currencies and their underlying technology, Blockchain. Some popular options used by iGaming platforms as viable and prompt payment methods are Bitcoin, Ethereum, Litecoin, Dogecoin, and BitcoinCash.

There is general speculation that Blockchain Technology is the next phase of iGaming. Its resistance to data modification and problem-solving capabilities is the key to a future beckoning for online casinos.

Final thoughts

The brick and mortar casinos continue to remain the favourite choices of the previous generation. However, With Gen-Z players and gamers, online casino and iGaming with intelligent technology are game-changers. Days of visiting a land casino would slowly start diminishing. Players can play their favourite game from the comfort of their homes with better gaming experience. Players and betting fanatics can plunge into a game of their choice anytime and from anywhere, thanks to iGaming and Internet of Things of IoT. It is an inevitable truth that with space-age level technology, the gaming experience and interfaces are only bound to get better.

Nonetheless, with online casinos being an unregulated sector, gamers are advised caution.

Regardless of interface or gaming varieties choose online casinos that are:

  • Authorised and licensed by gaming commissions
  • Reliable with a happy share of winners
  • Offer a variety of payment options
  • Ensure data encryption
  • Do not have low withdrawal limits, long cashout periods, and restrictions on non-bonus cash.
  • Prompt customer desk.

Players should run an adequate background check of the gaming platform before signing up.

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