The main characteristic of all online industries is they change astonishingly fast, and the online gambling industry is no exception. From its very beginning in the 1990s, the online casino industry has been at the forefront of innovation. Even though online gambling started more as a novelty, it has quickly become a widely accepted form of gambling. There are thousands of new casinos each week, so take your look at the best Irish online casino list to get a better picture of how big the number of active online casinos really is.
But what will be the future of this industry that is growing at a rapid rate? Here are some predictions on how the industry will change in the upcoming years.
Regulated and Honorable Gambling Industry
Online gambling companies mean serious business and one of the main proofs is the fact that there is little to no space left for unregulated companies. Licensing is highly encouraged by industry professionals, governments and reputable companies. Customers are also becoming aware of how a license guarantees an additional level of protection for them and not only a regulatory framework for companies.
Some of the most popular regulators that have strict criteria when it comes to providing licenses are the Malta Gaming Authority and UK Gambling Commission. It is also important to mention how regulators all over the world are taking their role more seriously and strip licenses and fine those who neglect or try to bypass provided policies, regulations, and laws. It seems that the online gambling industry is becoming more professional than ever.
Customer Safety First
Online safety is a major concern, not only for casino customers but everyone involved in internet communication and transactions. When it comes to casinos, then things get even more complicated as customers trust their casinos to handle all provided information discreetly and carefully. Considering how online casinos often require scans of IDs and passports, the concern is completely understandable. Also, many players are worried about financial transactions executed on the platform.
Online casinos will make sure to have strict security protocols that clearly define who can request and handle private information, in what way, and when. Also, it can be expected how online security protocols such as 2-step login via additional passcodes sent to the mobile phone or email will become essential in providing safe gaming experience.
Cryptocurrency as a Legit Payment Method
Cryptocurrencies still represent a niche payment solution, but it can be expected they will be introduced to many casinos, especially those not oriented towards European customers. Unlike the European Union that frowns upon the crypto industry and connects it to criminal underground, many countries all over the world have accepted cryptos as a legit payment method. For now, only a handful of casinos offer to deposit and withdraw in crypto, but more forward-thinking online venues even have competitions where you can win Bitcoins, Ethereum and others.
Even though fiat currencies are still a preferred method of both online casinos and their customers, it is not unlikely that we will witness the rise of crypto casinos in the near future, and we can’t wait to see it.
Virtual Reality in Online Casino
Virtual reality is hotter than ever! From computer games to gardening simulations and education – people simply love to be taken into another world.
ICE 2020 conference in London introduced some innovation when it comes to VR in casinos. VR will revolutionize sports betting and the live casino industry thanks to offering a unique and lifelike betting and gambling experience. Brick-and-mortar casinos will benefit from this feature if they use it for their own advance and offer their customers the combination of a real casino and online casino experience, but we still have to live to see it. For now, it is nothing more than a novelty with great potential for those who know how to implement it into their business model.
Growing Number of Online Users
Some say how online casinos will beat their traditional opponents to the ground, and how it is only a matter of time when the traditional venues will close their doors forever. It is not objective to think about how real casino establishments will shut down, but they will have to change their attitude as the number of online casino players is constantly growing. It is anticipated how the online gambling industry will be worth 94 billion US dollars till 2024. Mobile technologies and streaming services that are becoming increasingly popular each day, can only make the predicted number higher, but there is still a special place for casino venues.
Real-life casinos will simply have to change their strategies and offer more than a superb service, luxurious environment and give players a taste of the golden era of Monaco casinos and exclusive Las Vegas venues.