From the California Business Journal Newswires.
The gambling industry has come a long way from the days of spinning reels and five symbols to mobile, virtual games.
The last 20 years have seen the rise of online gaming with several new platforms coming on board to cater to the needs of the modern player.
However, as we enter into the beginning of a new decade, we can’t help but wonder what the next 20 years hold in store for the gambling industry. The last two decades was wild, exciting and saw the adoption of technology, what changes are likely to take place in the next 20? Are we going to see the rise of AI-powered punting? Does big data and hyper-personalization have any role to play in the future of the gambling industry?
If the last two decades are anything to go by, it is safe to assume; we will see a lot of changes in the future too.
So, here’s what we think will play out in the next 20 years in the gambling industry:
On the regulators’ side…
Apart from a couple of countries like Britain that currently have a well-laid out regulatory framework for both the online and land-based casinos, most countries today partially or completely ban online gaming in their territory.
However, as we move forward and the value of the gambling industry keeps growing, many of these countries will begin to seriously consider liberalizing their sector in order to tap into the multi-billion-dollar industry.
A good example is the United States that currently prohibit her citizens from online gaming.
Blockchain is likely to become the backbone of online gaming
While only a few websites are currently relying on blockchain to power their platform, gamers will begin to favor sites using the technology as a means to avoid scrutiny and tightening of tax laws by regulators.
So, expect to see, within the next two decade, the pace of adoption of blockchain and other related technologies to pick up.
Online slots where augmented reality is reality
Augmented reality and virtual reality are set to transform online slots. Sure, the tech is still in infancy. Still, it is not far-fetched to imagine within the next 20 years a situation where a gamer only has to wear their augmented reality (AR) gear to be transported into a virtual world where they can play and interact with other gamblers.
Reality is, AR is already here, though not as widespread as it was taunted at the beginning of the decade, but it is certainly catching on. The only thing left now is for the tech to become cheaper.
So, expect land-based casinos to adopt elements of AR in their offerings to provide an extra edge to gamers’ gameplay experience.
Hyper-personalization, Artificial Intelligence and Big Data will become a significant feature of the industry
Today, there’s little to no use of personalization in suggesting games and for improving the user experience for gamers, even though, many other industries are beginning to rely more and more on personalization and big data to recommend services for consumers.
We expect in the next 20 years for personalization, AI and Big data to go mainstream in the gambling industry. Expect to see super-computers analyzing games and instantly processing all possible data and making its data available to both players and operators.
So, what do all these expected changes mean for the gambling industry?
For starters, technology is going to play even a more significant role in the industry. Gambling companies would leverage new and emerging techs to offer an immersive experience to their users.
On the other hand, while it is tempting to think land-based casinos would go out of business, the likely thing that would happen is they will incorporate aspects of technology into their offerings such as introducing AR in the casino.
The bottom line is, expected a thriving multi-billion-dollar industry powered by technology and the desire to provide a top-notch experience for customers.