Revenue in the iGaming market has reached $97.15 billion. It will have an annual growth rate of 5.46%, reaching $132.90 billion by 2029. The substantial growth is due to innovative and cutting-edge technologies adopted by the iGaming industry. I will discuss the top 5 trending technologies in iGaming in today’s article. Read on!
What are Trending iGaming Technologies in 2024?
· Real-time Streaming
· AR and VR Technologies
· 5G Mobile Gaming
· Artificial Intelligence (AI)
· Blockchain Technology
Real-time Streaming
Have you heard of WebRTC? It stands for “Web Real-Time Communication,” a technology that allows users to communicate directly through a web browser without needing plugins, add-ons, or applications. Today, online casinos and sports betting platforms have incorporated WebRTC to let players communicate seamlessly.
Recently, I played an online poker tournament at 777cash.co, an online platform that offers casino games and sports betting options. I was surprised by the cutting-edge user interface and real-time streaming with high-quality video and audio. My point is that WebRTC enables online casino players to send data like game status information, text chat, and video streaming without hassle.
AR and VR Technologies
AR and VR technologies are quickly dominating the gaming industry, including the iGaming sector. For example, AR allows users to overlay digital information in the real world.
Some online casinos are trying to incorporate AR to improve players’ physical environments by adding game graphics, virtual objects, and statistics. Players can view these digital elements through smartphones or AR-enabled glasses.
Online casinos were less interactive a few years ago, and people would not experience the immersive feeling they are used to at land-based casinos. However, VR technology has completely changed the iGaming industry, making betting platforms even more immersive. Now, you can use VR glasses to simulate a real-life casino experience. That’s why there is an incredible surge in online iGaming companies.
5G Mobile Gaming
High-quality graphics and advanced game mechanics require high-speed internet. Latency is one of the biggest challenges for players today, but thanks to 5G technology, they can reduce latency, improve the gaming experience, and play multiplayer games like online poker, blackjack, etc.
I recently came across statistics about mobile gaming and found that more than 3 billion people play games on their smartphones. Again, faster data transfers, high-fidelity sound, and detailed graphics require a much-needed 5G technology. This is happening as software development companies, the iGaming industry, and mainstream gaming platforms quickly adopt this technology.
Artificial Intelligence (AI)
AI and ML are the future of the iGaming industry. Both technologies have a wide range of applications in online gambling and sports betting. For example, casinos can use AI to identify problems with gambling and recognize cybercriminals’ behaviors, especially those trying to manipulate the algorithm.
Moreover, AI and ML algorithms trained on casino data can analyze gameplay frequency, money spent, and changes in betting patterns. Thus, this can help casinos implement responsible gambling policies to prevent players from addiction and financial losses.
Blockchain Technology
The iGaming industry is rapidly adapting cryptocurrency as a banking option. Cryptocurrencies like Bitcoin, Litecoin, and others use blockchain technology to disperse data on millions of servers, preventing hackers and cybercriminals from stealing financial information about players.
So this makes blockchain/crypto technology a more secure, transparent, and reliable option for players to deposit and withdraw funds without worrying about their anonymity. Professional iGaming companies with a license from credible authorities like MGA and Curacao use crypto to ensure automatic payouts without fraud risk.
Final Words About iGaming Technologies
The future of the iGaming industry is bright, thanks to new markets and technologies driving growth. I have discussed the significance of AR/VR, WebRTC, AI/ML, and other technologies shaping the iGaming sector. These indeed offer players and bettors a more secure, immersive, and personalized gaming experience.