The gambling industry has been on an exponential rise in the past decade. The numbers keep increasing, and profits keep breaking records as new establishments are opened regularly.
Even though the land casino industry is still booming, online casinos are starting to make physical establishments fall out of favor.
The reasons for this are mostly obvious. New technologies are immediately employable for online gambling, and the release of new games has to pass through far fewer regulations to see the light of day. The factors of ease of access, convenience, and choice also play a massive part in making Internet casinos a more favorable choice.
All of this makes it evident that online gambling will keep rising in popularity as the preferred method for gamers across the globe. We’re here to explore the latest up-and-coming gaming technology trends for 2024, which will make the industry more attractive and diverse as a whole.
Virtual Reality Casino
Online casinos are famed for having thousands of top tier modern games; the latest and greatest the industry has to offer. Yet, the quest for improvement never ceases in operation. To provide players with additional immersion, Live Casinos offer online casino players with a physical like gaming experience, helped by HD streams and professional and engaging presenters, as well as the ability to talk via live chat.
However, Virtual Reality is expected to take immersion to the next level, and offer the next best thing to visiting a land casino resort. It’s one thing seeing the table and dealer in front of you on your monitor or phone screen, but seeing everything around you in a 360-degree scope is a whole different matter, and that is what virtual reality offers.
While offered by the 5BestCasinos, VR games still haven’t caught up in the mainstream, but they are expected to become more prominent in 2024 and above. The early signs are already here, and there are already a few VR online casinos on the market. VR poker and table games are also on offer at certain online casinos.
Of course, the one pitfall of VR online casinos is the steep entry fee, as VR headsets go from $400 and upwards. However, as technology becomes more affordable, and online casino operators find more ways to adapt to it, you can expect a much more accessible and enjoyable gaming experience soon.
Blockchain and Cryptocurrency Casinos
Blockchain is one of the newest and most exciting technologies that creeps its way into casino gaming, and every player should be happier for the fact.
While Blockchain technology may be challenging to comprehend, the fact is you shouldn’t worry about understanding it, but rather focus on the benefits it brings. In simple terms, blockchains are blocks of data shared across a decentralized, secure network. With the use of cryptography, they are impossible to be edited by anyone or tampered with in any harmful way.
This fact makes room for a slew of benefits brought forth by Blockchain. In terms of online casinos, Blockchain is the first technology to enable fully verifiable fair games, meaning a casino can`t tamper with a game in a dirty way without the player knowing about it.
Non-blockchain casinos have regular independent audits to prove their fairness, but Blockchain casinos let you verify every single bet you make due to the data’s decentralized nature. What’s more, you can double back and check your betting history to make sure that all of your payouts have been appropriately handled.
Blockchain casinos are still far and few between, but Blockchain-based payments via cryptocurrency have become something of a regular occurrence. Cryptocurrency payments are becoming popular among casino payment methods as they are entirely anonymous; you do not have to enter any personal data when making deposits or withdrawals.
What’s more, cryptocurrency payouts are on par with e-wallets in terms of processing time. Your cashout requests will be usually processed within 24 hours, and often within a few hours of your application. All you need is to set up a digital crypto wallet, and you are good to go.
The one downside is that you would have to later convert your cryptocurrency to “real money,” such as USD, to use your funds everywhere. However, as the cryptocurrency makes its way into the mainstream, we anticipate this issue to be eliminated as time goes by, and more shops start to accept cryptocurrency as a payment option.
New and Better Online Gambling Regulations
When online gambling made its way on the market at the turn of our century, players were mostly concerned about safety. Dealing with the unknown is never an easy task, and several shady casinos would take advantage of players by refusing to pay out, citing obscure reasons. Sometimes they would close down without a trace, suffering no legal repercussions in the process.
We’ve come a long way from that point, and nowadays, it’s easy to point to a safe and trusted online casino with a proven track record of regular payouts and satisfied customers. Gambling regulators and licensors, such as the United Kingdom Gambling Commission and the Malta Gaming Authority, play a massive part in keeping gambling operators in line.
However, more individual countries are starting to turn their eyes towards online gambling and are beginning to employ new ways of keeping online casinos in check. That will result in much more transparent terms and conditions, more verifiable gaming records, and a more player-friendly gambling experience overall.
Strict regulations are usually not good news, regardless of the industry, but when it comes to online gaming, players should welcome them with open arms.
Summary
Online casinos already offer a highly entertaining and profitable gambling experience, with RTP (Return To Player) percentages averaging 95%, and thousands of top tier games on offer. What’s more, players can benefit from the variety and options, so that they can choose between hundreds of trusted online casinos, a myriad of payment options, and lucrative bonus offers like no other.
In 2024 and beyond, we anticipate new and improved gaming technology trends that will make your online experience even better.
