Online games are a multibillion dollar industry. In 2016 alone they moved one hundred billion dollars. Today they have reached the figure of 140 billion, and the numbers do not stop there. It is an overwhelming phenomenon. This has led to the emergence of hundreds of developer companies interested in obtaining a slice of those figures.
This avalanche of new software creators has allowed a great variety in the online gaming market. And not only that, the competition has resulted in a fight for excellence and realism. This has caused the engagement to increase, therefore, the experiences have become more vivid. Let’s find out more about these fantastic tech advancements in the field.
Technological Innovations and How They Affect Online Gaming
Casino games and new technologies
Casino games have not escaped the new reality. These have been reinvented thanks to the technologies of developers like Microgaming. When reading casino reviews, it is normal for users to see them mentioned. NetEnt is another of the giants in the industry.
Live casinos are one of the most sought after technological innovations. These came from the hands of companies like Evolution Gaming. They offer a real-time gaming experience, with trained dealers and opponents from all over the world. To achieve the immersive experience, they use HD webcams and state-of-the-art microphones in streaming transmission.
The live casino allows users to not leave their homes, but at the same time, they can virtually sit in a physical casino room. The available chats create connections between all participants, either through text or voice. It is a developing market. In it, vendors strive to offer the best graphics and the most skilled staff.
The popular slots are not left out either. Big innovation gambling companies like Microgaming and Playtech have reinvented these machines. There are slots with three-dimensional effects and music that give them a cinematic atmosphere. The designs have been optimized for cell phones, which has helped increase their popularity among the population.
The most popular casinos have taken advantage of video platforms like YouTube. There, they have been in charge of promoting their companies by teaching certain aspects of their websites, which makes the user feel more confident to deposit their money.
Why do people prefer to gamble online?
Another factor that contributes to the online gambling industry is the fact that the vast majority of users prefer to gamble online. Regulating authorities of different countries tend to be a little more lenient towards online casinos. Surveys among players have revealed these numbers: live game stakes comprise 30.58% of members, slots 20.94% and live online roulette 7.85%.
How do these advances affect the online casino market?
The benefits for the online casino industry are many. For example, advancements in SSL encryption have made depositing money at these gambling sites just as safe as at a bank. On the other hand, the creation of “virtual reality” experiences allows the creation of gaming environments that are increasingly similar to authentic experiences.
The artificial intelligence of betting websites is another innovation that improves the user experience. A great case is represented by search optimization, which saves time by getting the game that best suits the user’s tastes.
Customer service is another privileged aspect. This factor has been improved with the help of high-end bots that recognize the most frequently asked questions and provide quick solutions to users. Customers can also enjoy some fabulous bonuses such as $/€5 Deposit Free Spins Trump Match Bonuses offered by certain online casinos.
A lot of countries have also seen economic benefits with the boom in online gambling. As regulations were created across Europe, a lot of punters started betting a considerable amount. Nowadays you can find names of online sports betting sites on the jerseys of some of the most popular European football clubs. The tiny European country of Malta has benefitted astronomically through the rise of online gambling. Because of Malta’s regulations, most of the world’s top online gambling companies are registered in Malta. As a result of that, gambling now contributes over 13% of the country’s income.
All of this is closely related to the Malta Gaming Authority, an organization that regulates the vast majority of online casino sites.
Today, this term has become common. In fact, it is rare not to find an average millennial who has not played games such as:
- League of Legends.
- Dota 2.
- Clash Royale.
And if you enter the statistic of not having played them, it is impossible that, at least, you have not heard of them. These represent the immediate future of new sports. Yes, electronic sports or eSports. The games mentioned are just a sample, the catalog is immense and the figures of money that move around each discipline are in the millions of dollars.
There are thousands of independent companies that develop software seeking to penetrate the public. You can find games that are very inventive in graphics, like CS: GO, or simple, but intelligent ones, like Among Us .
Smartphone apps are another major player in this market. Through smartphone apps, games like blackjack and poker have reached many more people in the simplest ways. In the Play Store and App Store you can find free games with these themes and even casino simulations with certain popular games.
Free and paid options are provided there. In the latter, the security of user data is guaranteed.
The rise of 5G
The fifth generation wireless network is one of the most exciting technological advancements in society. Every day there are new releases of online games that require greater connectivity and speed. The 5G network is one of those advances that will allow gaming and surfing the network to be easier and faster than ever.
Projections in the next 10 years regarding technological advances in online games
Mordor Intelligence – a market analyst data collection company – conducted an investigation which predicted a consistent rise in the popularity of online games. According to these experts, the North American market is the fastest growing and the largest is the European one.
The research maintains that as of 2016 the market has been increasing an average of 8.77% each year. This would result in a total of $ 87 billion annually for the entire iGaming industry in 2024.
This is a good indicator to predict what the profitability and popularity of this business will be in 10 years. Another interesting value in this research is that it says that women will have more participation in the industry which is fantastic because the female demographic is yet to be fully tapped by the gaming industry.