The iGaming industry is in the midst of radical change because of AI
Alongside mobile games and social apps, the online gambling industry is one of the fastest-growing markets in the world. Its market capitalization began in the early 2000s and by 2019, the industry size was reported at $60 billion. One of the advantages this industry has had is that online gambling scenario has not been the target of heavy regulations which made it rapidly gained strength over the past couple of decades. The iGaming industry sometimes presents itself as an integrated service; usually, online casinos have a wide variety of table games, slots, sports betting and other forms of gambling in one single site. This next decade looks more than promising for iGaming. New emerging technologies such as artificial intelligence (AI) are starting to reshape the industry bringing new features to improve on safety and deliver the ultimate customer experience. AI, along with its many applications and integrations with other technologies, will be defining the course of this new decade.
According to data and analysis from some experts in the sector, online gambling markets are looking into a yearly expansion between 6% to 9%. In recent years, there have been new additions to online gaming platforms with features that became a trend. Virtual reality (VR) casinos are one of those futuristic services that have arrived, Oculus Rift and Samsung Gear are already working on offering casino games to customers who want to immerse in a real-life casino experience from the comfort of their own homes.
Now that a smartphone has turned into a necessary gadget for most people, mobile slot games became very popular among gamblers. Companies dedicated to developing casino technology are also owners of mobile game studios; this gives them an edge in the number of games that can be available to the public.
Also, with the arrival of cryptocurrencies and digital forms of trading, it has been a notorious trend among online gambling sites that are using technology to integrate cryptocurrency payments in their cashiers. Cashless transactions allow gambling companies to offer deposits and withdrawals faster and easier.