The future of gambling is pretty shiny, with new evolving technology and tech games, the industry is going to be brighter than ever.
FREMONT, CA: As an industry, iGaming has changed since Microgaming programmed the first online casino game in the 90s. With technologies like VR, 5G, and AI, the future looks pretty bright, particularly as total online revenue is expected to be more than double by the middle of the next years. Here are some of the critical challenges that the industry will face.
As casinos are usually at the lead of facilitating advanced payment methods. So far, no other online casino company accepts Bitcoin or other cryptos. One of the problems is that controls like the United Kingdom Gambling Commission (UKGC) want a particular bit of transparency when it comes to funding of accounts. With crypto, that's a lot more difficult to ascertain. At a guess, online casinos will track precisely what goes on with the likes of Facebook's Libra, and witness how authorities take to that over in the coming years.
eSport and Video Games
Millennials tend to avoid the idea of traditional casino games, but there is a budding industry betting on the eSports and also the video game tournaments like the Fortnite. Many of this comes under the purview of betting organizations that are owned by casinos. The users have seen with the Grand Theft Auto 5 casino update there as an appetite for video game companies to monetize the popularity of their wares. There were some moves by casino companies to move into the realm of video games, but this might be one of the biggest challenges of all in this year and also the coming years.
Online casinos have done an excellent job of operating in nations like Germany and Australia, where there are legal grey areas, and nations like Ireland, where the law has not yet caught up with the internet gambling. The truth is that most of the governments and opposition parties have threatened the regulations, which might damage the casino industry in terms of marketing, but so far, these have not been realized. The casino industry has, however, been pre-emptively setting down its own rules in these areas, pushing areas such as responsible gaming without regulators intervention.
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