Online gambling has been on a stable rise since the genesis of online casinos. However, the industry has witnessed exponential growth in recent years due to the COVID-19 pandemic. Despite that, technological innovations have made online gambling even more popular. Therefore, industry operators are catching up incredibly, adopting newer inventions to appeal to a broader market.
The industry's tech-based innovations are modelled towards accelerating and revamping the user's gaming experiences. So, we expect to see new trends that'll overhaul and refine the iGaming industry. For example, we can anticipate the inevitable incorporation of augmented and virtual realities. In addition, a more expansive inclusion of cryptos as payment methods is inevitable.
The industry's growth ceiling hasn't been documented yet. The upcoming trends will only sky-rocket its revenues and market size. Thus, let's look at the trends set to imbue the iGaming industry.
The Dominance of Cryptocurrencies
Let's tackle the elephant in the industry; cryptocurrency. There are existing online casinos accepting digital coins or tokens, mainly Bitcoin, as a mode of payment. While such platforms aren't numerous, 2022 is set to experience a massive adoption of cryptocurrencies.
That's because iGaming operators and players alike have recognized the benefits of these virtual currencies. It's not long before cryptocurrencies become mainstream and, in due course, replace conventional payment options like credit/debit card options.
These digital currencies offer players quicker and cheaper transactions, especially in regions where casino payouts are highly-taxed. In addition, and most importantly, they provide a solid layer of security cushioning players against fraud.
Furthermore, crypto-gambling is a viable option for players in jurisdictions where gambling is restricted. That's because blockchain technology allows players to make anonymous transactions and enjoy a safe gambling experience. Hence, more online casinos will add cryptos as payment methods spurring their dominance in 2022.
eSports Wagering to Bloom
Esports betting has been garnering popularity over recent years, and it's an untapped niche that online casinos are now exploiting. Therefore, with continuous technological progress, the eSports market will undoubtedly expand.
However, eSports betting shouldn't be confused with virtual sports as the latter employs computer software to emulate real-life sports. In contrast, eSports betting is simply wagering on online video game competitions. Most punters enjoy playing video games, and online casinos provide an excellent opportunity to bet on such games.
What's more, you can stream how the adrenaline-pumping action unfolds while betting. That alone appeals to a customer base that's only magnifying by the day. Thus, 2022 will gain greater traction as more online operators integrate eSports games to satisfy the growing demand.
There are plenty of eSports tournaments and games to wager on, but the most famous ones include:
League of Legends.
Safer and Secure Gambling Policies
The online gambling space is an attractive hub for terrorists and fraudsters who exploit the system's cracks to harm others. In 2021, most platforms reported money laundering cases that led to unprecedented losses. To cripple such malicious activities, 2022 will witness stringent and more unbending regulations.
An outstanding example to expect is more rigorous KYC verification procedures to curb criminal activities, fraud, and underage gambling. Also, casinos will use up-to-the-minute SSL encryption tech to safeguard players' data. Similarly, renowned regulatory gambling commissions will set onerous regulations to ensure fair and safer gambling.
With the increasing popularity of online gambling, irresponsible gambling is bound to become a stumbling block. So, to promote responsible and safe gambling, platforms in 2022 will actively implement measures like self-exclusion and deposit limit options.
Rise of Virtual Reality (VR) Games
VR reality technology has been majorly successful in the gaming (video games) community. The concept hasn't been fully illuminated in the iGaming industry, but it's making huge strides. Hence, reputable software vendors like NetEnt and Microgaming are spearheading its incorporation into casino games.
In 2022, there will be a rise in demand for VR games as they promise a more immersive and interactive player experience. This nifty invention will also lead to further push for MR (Mixed Reality) and AR (Augmented Reality) technologies in the industry.
This trend will undoubtedly attract more punters as it promises thrilling game adventures and exquisite iGaming entertainment. It may take a few years to adopt MR, VR, and AR in casinos. Nonetheless, 2022 is a stepping stone towards exploring endless online gambling possibilities.
Expansion in technology has continuously tweaked the iGaming business, reaching the heights beyond. Initially, you could only place bets via a PC/Desktop and then to mobile devices (Android & iOS). In 2022, we're looking at the possibility of playing your favourite casino games on your smartwatch.
Smartwatch gambling promises a minty-fresh iGaming experience that's more convenient and easily accessible. Thus, casino applications on smartwatch devices will massively impact user experience. Although the small sizes and screens pose a challenge, the Playtech software is already developing slot game applications.
Other Trends to Anticipate
As stated earlier, there are several trends to expect, but the above mentioned will incredibly impact the iGaming industry. That said, the following are other shifts you can expect to observe:
A significant decline in the popularity of brick-and-mortar casinos.
An upgrade and development of high-end casino games.
An enhanced gaming experience; fast withdrawals, easy navigation, etc.
The gambling industry in 2022 is set to make enormous developments, and technology is at the core of it all. While the trends benefit operators and players alike, players are the primary beneficiaries. That's because they'll enjoy smooth and seamless games, fast withdrawals, and advanced tech, alongside exciting bonuses and customer support.
Notably, all the trends point towards an improved and interactive gambling experience. So, it's all merry for punters for the year ahead.