Gambling is the method of playing a game for cash and involves setting bets or playing the odds in the hope of winning. This game is famous due to the positive feelings gained from taking a risk – and this attraction hasn’t changed since its discovery.
Despite the changes from the rise of technology, gambling and betting have continued to be familiar pastimes and hobbies. Technology and the internet in general have changed the way we live our lives drastically. Several technological advancements and widespread internet access enable us to do almost everything digitally.
Gambling rules in most countries are mixed. These laws were invented before there was a concept of online gambling. So, giving them unnecessarily in the present circumstances. The easing of laws on gambling in countries around the world plays an important role that will push the market during the forecast period.
Birth of Online Gambling
From the passing of the Free Trade and Processing Act in Antigua and Barbuda in 1994, online gambling continues to flourish and has allowed several companies to be granted a license if they needed to give online casino services. It was the Caribbean government that first approved and regulated online gaming. In 1994, Microgaming (UK Company) developed and began its first online casino. It was an important event in the development of the online gambling industry.
It all started with dice rolling and playing cards in 100 A.D. and now a city of casinos. Betting shops with touch screen kiosks in the 21st century, it is visible that technology has changed the way people play. Analyzing the history of gambling and the platforms that hold it gives how and why technology has changed this activity.
The problem for regular betting shops on the street is the challenge of continuing to attract customers into their shops. Due to race from mobile apps that users can use in their own home or on even so. Apps and technology are more being joined into betting shops using touch screen betting kiosks. That’s why gamblers can enjoy the socializing benefit from the convenience of technology.
Bookmakers give some key information that betting at home can not. Betting online is limited to card users only. It is a way that can sometimes lead to fear of overspending or identity issues – in-store, cash is accepted. There is also the social form of betting, which online chat rooms on betting sites cannot replace. From the bookies to clients, the community response of the bookmakers creates an environment that cannot be experienced through a mobile phone screen at home.
With the adoption of tablet kiosks within bookmakers, the in-store experience brings the usability of the mobile apps with the sociability of the bookmaker. With connected devices from cash acceptors, printing tickets, tablet kiosks provide the usability of the mobile apps with the functionality of the integrated devices.
Increasing usage of bitcoins as a currency
In 2016, the online gambling operators were open to different money including euros, dollars, and pounds. It allowed the players to credit and debit the wanted money. However, it did not pass the currency exchange charges and did not protect the operators from vital currency devaluation. These factors have pointed to the fame of bitcoins in the online gambling market. They are being viewed as a safer solution for online transactions. Apart from giving freedom from central banks, bitcoins are also helpful in keeping the anonymity of the users and allow them to make transactions more securely.
Technological influence in the online gambling market
Technological progress in the electronics market remains to have a heavy influence on the online gambling market. Technologies such as augmented reality (AR) and virtual reality (VR) are famous in the online gambling market. With rising progress and changes in the internet and mobile data networks. The users have the right to play online gambling games on smartphones, tablets, and laptops.
Increasing social gambling
To protect players from huge gambling online, the government in many parts of the world has banned the use of social media for gambling. However, online gambling within social media was a popular and valuable segment for the merchants. Thus, executives are focusing on launching gambling apps and games that make use of virtual money to defend the customers from wagering real money online.
What the Future Holds
The effects of technological advancement in our lives are truly undeniable. In the universe of online gambling, the technological change didn’t only make it easy and comfortable but it covered the way for its growth and demand control. Despite various acts and positive laws to make online gambling safer, many phases of it are starting to change.
With extra positive laws and laws tending towards online gambling. Juniper Research decided that the online gambling market will outstretch up to $1 trillion in 2021, referring to smartphones as a major factor in this evolution.
Surely, these technological improvements are just the start of what could be unthinkable several years ago, mainly in the world of online gambling. We could reasonably assume more realistic and high-quality games permitted by VR technologies and solid safety. Moreover, we could also expect a worldwide span of its legalization to take online gambling to new levels.
The gambling industry has not settled common to the aspect of cryptocurrency. It’s been Bitcoin’s unexpected value that has been servicing all of the headlines — yet it’s the blockchain technology behind it that is the most impressive feature for many.