Meta: The gaming industry is constantly evolving, but is it just technology that is helping to shape the industry? Find out here.
The iGaming industry is constantly evolving, much of which is due to industry leaders’ constant willingness to adapt to new technological trends and innovations.
The industry is also frequently being shaped in many other ways that do not involve technology, which we will be taking a closer look at right here.
Aside from advancements in technology, how else does the gaming industry innovate?
The iGaming industry across the globe is always going through change. Aside from technology helping to take the industry to new heights, many other non-technological components are also involved in shaping the industry’s future in more ways than one. Examples include the following:
- Know Your Customer (KYC), anti-fraud measures, and account verification processes
- Licensing and regulation
- Bonuses and promotions, VIP & loyalty rewards programs
- Responsible/safer gambling tools
- General policies, terms and conditions
- Customer service levels
- Advertising
In most countries where online casinos with thousands of real-money games are legally permitted, there has never been a better time than now to be a player. The industry now provides a much safer environment for players, especially in the ‘top-tier’ jurisdictions.
The official governing bodies and gaming commissions that license and regulate the gaming operators/businesses in those jurisdictions are always looking for new ways to improve the industry and make it safer for all those involved.
Technology plays a huge role in the continual evolution of the industry, but non-technological components are equally as important.
Know Your Customer (KYC), anti-fraud measures, and account verification processes
For example, if you wanted to play the hugely popular new Aviator crash game in the real money mode on a licensed and regulated iGaming site, you couldn’t just go to a website and start playing.
Let’s just say that you type the phrase ‘play aviator crash gambling game‘ into your preferred search engine (e.g., Google, Firefox, Safari, Vivaldi, Edge, Internet Explorer, etc.) to find an online casino to play this game on.
Doing so would bring up a list of reputable sites, such as the globally renowned 10bet.com casino.
Before you could deposit real money and play on that site, you would need to prove you are who you say you are to prevent fraudulent activity and underage gambling.
The account verification process has been dramatically improved to make the system quicker and more effective, so your new account can be up and running in no time.
Back in the day, it could take anywhere from 48 hours up to a week for a casino’s account verification department to get your proof of ID and address documents verified.
Today, it tends to happen in less than two hours, thanks to the systems and processes currently being used by online casino operators.
Licensing and regulation
Licensing and regulation guidelines and practices have become stricter but also more simplified and are now better than ever, especially in the top tier jurisdictions like the Isle of Man (IOM), Gibraltar, Malta, the United Kingdom, Canada, and the United States.
The gaming/iGaming industries are now better regulated, which has led to a safer online gaming environment for players.
Bonuses and promotions, VIP & loyalty rewards programs
Online casino operators today have improved their bonuses and promotions, and the VIP & loyalty programs have also become more relevant, personalised, and rewarding than ever.
Responsible/safer gambling tools
Today, players can access a range of responsible/safer gambling tools when logged into their account, which helps them stay in much better control of their spending and protects everyone, including those deemed ‘at-risk.’
General policies, terms and conditions
Online casino operators have simplified their general policies, terms, and conditions, making them easier for players to understand and less full of technical jargon or sentences that are designed to confuse, annoy, or trick players in any way.
Customer service levels
Over the past five to ten years, customer service levels have also dramatically improved.
Live chat and telephone support agents (human agents) are more friendly, knowledgeable, cheerful, and professionally trained than ever to answer any questions you may have about your account/the casino you have joined or quickly resolve any technical issues you may encounter.
They are also quicker to respond.
Advertising
Advertising techniques have also changed, so there are fewer ads targeted at underaged people and now more strategically targeted/geo-targeted to appropriate audiences.
Final note
The gaming industry is also being shaped by the latest advancements in technology to take it to the next level, and some of the key areas include faster internet speeds, cloud computing/gaming, more efficient web browsers, faster and more secure payment methods, and blockchain technology/cryptocurrencies.
The other technological trends that are also helping to shape the future of the gaming industry are improved mobile/desktop computer technology, big data, machine learning (ML), and artificial intelligence (AI)-powered tools, virtual reality (VR), mixed reality (MR), and augmented reality (AR).
That’s not to mention bigger jackpots, better games, and higher average Return to Player percentage (RTP%) payout rates.
All this combined is helping to take the gaming industry to extraordinary new heights, which is why it continues to generate billions in revenue yearly and is making the industry safer than ever.