There is no business in the iGaming industry if there is no technological innovation. The iGaming industry, like any other digital sector, is dependent on technological advancements. From data to marketing, content, and payments, there isn't a single aspect of the organization that doesn't rely on cutting-edge technology.

The Rapid Growth

Consider some of the legislative reforms that have resulted in a new, fully regulated multibillion-dollar industry in recent years.

A landscape has been established for players aged over 18 to legally enjoy the best online slots games worldwide, as well as for operators to compete for the attention of millions of players. 

In essence, that landscape is a technical battleground. The operators that can best deploy technology – or uncover superior suppliers or certain disruptive innovations – will be successful.

The smartphone, for instance, has been the most transformational breakthrough in the past decade.

From app ease-of-use to quick payments and the revolutionary influence of in-play on betting culture, the growth of smartphone technology has perhaps impacted no other sector as much as online gambling.

Looking Ahead

Discussions on technology should largely focus on the future. While we can and should evaluate the types of innovations that have propelled the iGaming industry forward, we should constantly be looking ahead to see how the landscape will expand and flourish in the future.

The disruptive technologies of the future years will not only affect iGaming. However, it will also influence the thinking of tech executives across a wide range of industries, from banking to e-commerce to medical and everything in between.

The most enticing technologies are likely to be as popular among ordinary people as they are to industry leaders, most notably:

• artificial intelligence (AI),
• blockchain,
• the internet of things (IoT),
• virtual reality (VR),
• and metaverse

We've read about augmented reality in publications, heard about blockchain in news stories, purchased an IoT-ready smart light bulb, and perhaps even watched AI led to the end of the world in a Hollywood movie. But what do these innovations entail for the iGaming industry?

Artificial Intelligence

AI (or machine learning) is at the top of the list because of its ability for personalization, strategic automation, and responsible gambling. AI can alter intelligence surrounding client experiences, producing a digital image of players so they can be understood better and more efficiently.

This is especially enticing since it may have an immediate and demonstrable influence on iGaming business metrics.

Blockchain

Online casinos, particularly those authorized in favorable gaming countries, are already using cryptocurrencies such as Bitcoin and Ethereum. However, the technology that underpins blockchain remains unused.

Blockchain technology, when used for gaming, has the potential to improve platform security and consumer privacy. This is especially important given that the iGaming and online sports betting ecosystem processes hundreds of billions of dollars in wagers each year, as well as considerable volumes of deposit and withdrawal activity.

Just as casinos might gain an advantage by offering higher payout percentages, some customers pick where to gamble depending on how quickly they can withdraw their funds and how safe the transaction is.

In addition, blockchain technologies is also know to guarantee player anonymity when interacting with online gambling platforms. Though blockchains are essentially public ledgers, your transaction can remain anonymous provided there is no direct link between your wallet address and your true identity.

The Internet of Things (IoT)

This stems from many people's adoption of mobile phones as the most transformative technology advance in online gaming. This is due to the importance of IoT in connecting these gadgets with their owners and other devices.

Online platforms can learn how customers interact with and respond to games over time by recording and analyzing the proper data sets. IoT also connects mobile devices to physical businesses such as casinos, allowing operators to provide complete omnichannel service.

Virtual Reality

Virtual reality (VR) is the next logical evolution in betting for real money from the comfort of one's own home. While the post-COVID world has drawn many players away from land-based casinos and into the internet arena, one feature that has been lost is the immersion and social contact that the physical experience provides.

By offering a more accurate and immersive 3D experience, VR can bridge this gap. In terms of content, VR and AR have long been heralded as potentially game-changing for immersive gaming; imagine entering a virtual casino or playing roulette on top of your kitchen table.

However, a lack of adoption of current technologies has called the true desire for such experiences into doubt. Is it just a novelty that will only ever appeal to a subset of techies, or will it break through to the masses when gear gets more affordable and readily available?

Metaverse

Online gambling will someday exist within the metaverse, the next version of the internet. Physical and virtual worlds will be merged in the metaverse, allowing humans to enjoy a wide range of experiences.

An unrestricted number of players will be able to engage with one another, simulating the experience of playing slots, table games, or wagering on sports in a social setting.

There are currently various online casino platforms that provide gaming operators with social experiences. The firms offer immersive game shows, money wheels, and table games that can support thousands of concurrent gamers.

Players can communicate with each other and the host in real-time, allowing them to participate in the betting experience as a group. The games themselves are hosted in off-site studios that are monitored by a central control center to ensure the games' integrity.

Gaming in the metaverse is the most likely future possibility for online casinos, as it symbolizes the merging of all of the aforementioned technologies.

Conclusion

In the future, we can expect a slew of unexpected and great breakthroughs that will breathe fresh life into online gaming and gambling, a centuries-old activity.

The possibilities afforded by AI, particularly its capacity to manage and reduce compulsive gambling, are the outstanding technologies that excite us the most.

The ability to learn about players, determine what is 'normal' for them, and intervene when they deviate from expected behavior might revolutionize the customer-operator interaction.

Such approaches have the potential to have a major impact on the control of hazardous gambling.