The online gambling industry has been transformed into what it is today thanks to technological innovations. There have been significant changes to the industry in recent years, making it more accessible to all gambling enthusiasts worldwide. Undoubtedly, the online gambling market, including sports betting, lotteries, and casinos, will continue to grow in the following decades and bring many casino industry trends onboard.
Brick-and-mortar casinos are still popular, but online gambling is the most preferred form of gambling nowadays. The popularity of online casinos has pushed developers to come up with more immersive casino games that are available everywhere using cutting-edge technologies. For example, you can place your bets online on prominent online casinos and enjoy the benefits of the technologies that have made them better without leaving the comfort of your own home.
In today’s blog post, you will find many technological advancements that online gambling sites implement for better user experience and happier players. Let’s see the most popular ones right below.
New casino industry trends in 2023
The online gambling and casino industry is growing at lightning speed, and the modern world has a massive impact on more and more online casinos. All technological novelties take a considerable place in the growth of online gambling, and it’s still on a huge rise. This section is reserved for game-changing casino trends that have dramatically transformed the gaming industry; you will find 10 of them and see their everyday usage from gambling enthusiasts worldwide.
Casino industry trend No. 1: Crypto gambling
Most online gambling platforms offer their games and casino bonuses in cryptocurrency, which is still the most popular currency among players in both online and land-based casinos. Despite this, cryptocurrency is slowly gaining traction as a more secure payment method thanks to blockchain technology and its difficult-to-hack structure.
Therefore, some online casinos encourage their clients to use digital currencies for their transactions, offering bonuses for crypto deposits. Many online casinos accept Bitcoin as the most recognizable and reliable cryptocurrency. The security and safety of online casinos are enhanced by Bitcoin deposits, which are more secure and less likely to be fraudulent.
Also, because of their anonymity, many people prefer Bitcoin and other digital currencies for withdrawals and gameplay. The biggest gambling sites will still accept traditional payments, but cryptocurrencies are taking the place of old methods providing encryption that is important for transaction-sensitive processes. On top of that, crypto casinos make gamblers carefree regarding identity theft and account hacking.
Casino industry trend No. 2: Virtual reality (VR)
By utilizing virtual reality technology, online casinos can offer their clients hybrid casino experiences and advanced forms of entertainment. Why are VR and hybrid casino games so popular? Well, land-based and online elements of casino gambling are blended together for enhanced online gaming possibilities. Playing specific live dealer online games with VR accessories aims to be as close as possible to a real casino. Because of this, hybrid games have gained popularity among fans of casino games, including VR slot machines, live table games and others.
Many gambling lovers are witnesses to how prominent casino operators have started incorporating virtual reality and augmented reality into their games to bring a vibrant gaming experience. These technologies allow online casino lovers to be in the same room as the other players they are playing against, representing the most revolutionary element in the iGaming industry.
Casino industry trend No. 3: 5G Network
The 5G network is another significant technological advancement that contributes to the growth of the online gambling industry. Unlike virtual reality, the 5G network is available for all gamblers worldwide with a symbolic price for connection. It is a faster and safer internet network for more reliable data transfer, which leads to better mobile online gambling.
Thanks to the nature of 5G networks, mobile gambling will be faster and smoother without long-loading processing time, bugs, and other things that can affect the excellent user experience. Now, mobile gaming is more efficient, seamless, and drastically safer than before.
Casino industry trend No. 4: Artificial intelligence (AI)
Imagine the following scenario: you are playing new table games and hit a great money prize. Next time you get into the same online casino, the platform will immediately recommend similar casino games and introduce you to slots, blackjack, poker sites, roulette variants, etc. The AI-based algorithm removes the other casino themes and game offers you don’t even click on, avoiding frustration and a bad user experience.
Another valuable implementation of artificial intelligence on online gambling sites is the AI assistant, a bot. This integrated AI bot recommends exciting offers to the players, sends daily reminders about casino tournaments or makes a game recommendation depending on the player’s previous interests. In other words, the AI bot can be your “virtual friend” during the gameplay and help you with all possible misunderstandings.
Artificial intelligence has a rapid growth among the casino industry trends setting up new standards for customer relationships and overall interface adaptability. All iGaming operators can take advantage of AI and machine learning using software that will provide better services, make customer-based predictions and promote responsible gaming.
Casino industry trend No. 5: Big data for casino players’ behaviour
Big data is a crucial technological breakthrough in recent years that will move the online gambling industry ahead in 2023. Big data is here to collect massive databases for evaluation and discover what is essential for casino platforms to take advantage of.
For example, all online gambling platforms use big data to collect and obtain vital information about players’ behaviour. These details help the casino management to make a better plan and personalize the casino offers for unique gambling experiences. Knowing that the players have different knowledge and experience about specific casino games, big data assists in the developing process regarding better relationships with their players.
Casino industry trend No. 6: Enhanced cybersecurity practices
Since the growth of the casino industry has become more significant, cyber-attacks are more frequent, and scammers wait for a clear chance to steal money from the players. For example, players usually fulfill their personal and financial information on fake casino sites in the hope that they will get no deposit money or fast cash. This is known as phishing – the hackers attract the victim to a fake site and collect their sensitive information for further abuse.
Luckily, cybersecurity nowadays is way more efficient and equally improved for fighting cyber-attacks. This means that online casinos now have better tools to prevent malicious attacks and hackers from stealing data from their players. However, casino platforms should make security plans outside the box and invest in the appropriate protocols and tools to keep their platforms secure in 2023, provide safe payment methods and protect the players to the fullest.
Casino industry trend No. 7: Smartwatches for new iGaming experience.
Everyone uses smartwatches, but using them for casino gambling is a real thing. Yes, it is possible, and it is expected to make a boom in the industry starting in 2023. People usually use their smartphones and tablets to place their bets on specific online casinos that support mobile gambling. Now, smartwatches enter the game, and you can play casino games on your wrist.
The smartwatch industry’s worth exceeds $33 billion, and it is expected to grow rapidly in 2023 thanks to advanced technology. Wearable technology is more popular among the younger generation, but it will continue growing in the coming years. More iGaming operators and developers will craft new online games that can be easily accessible on different devices, including smartwatches.
A casino operator’s goal is to give clients everything they want, whether they are playing online or in a real casino. The primary motivation is to provide the best gaming entertainment, along with excellent customer service, fine dining, rewards programs, and incentives. As online gaming technology and systems improve, casinos are blending their traditional charm with the latest online gaming innovations.
Casino industry trend No. 8: Advanced live dealer games
Casino players prefer online casinos offering a realistic live casino experience from home. It is the engaging “real, live” dealer that first prompted them to start this gaming habit without ever having to leave home. Therefore, more online casinos are leveraging this information to their advantage. Additionally, the brick-and-mortar casino beefs up at the same angle.
For instance, dynamic live dealers in games like Blackjack and Baccarat are popular within online casinos, and many real casinos concentrate on providing engaging dealers on the casino floor. Since the casino industry started, consumers have been drawn to dealers with quick wit and charm. With advanced technology, dealers look natural and just as engaging online.
Online gambling statistics
Casinos can now quickly sell their offerings in the digital marketplace with the help of technology development, which has become a universal medium for attracting and serving more and more players. Virtual platforms have become more popular, bringing new energy to the whole iGaming industry. Because of that, online casinos have flourished due to the increased modern technology, and many players have taken significant advantage of it.
Over the last few decades, the commercial casino industry has experienced significant growth. Since gambling-related activities have been legalized in many countries and their economy has grown, licensed casinos have expanded to new markets and generated significant revenues. Statista states that casino and online gambling markets worldwide reached $231 billion last year.
Additionally, the increasing number of online gambling applications, online betting offers, and a rise in consumers’ income are all likely to boost the gambling market’s growth. Sports betting also plays a big part in this story since many sports betting opportunities are open for players worldwide. Some of them include crypto betting on horse racing and sports matches, live betting on TV shows, using mobile phones for playing casino games and other gaming trends.
Mobile Gambling and Canada iGaming Stats
SOFTSWISS reported that about 77.16% of all bets are placed via mobile devices, while only 22.74% are placed via desktop computers. In the same report, you notice that about 74.85% of all the money players wager comes from desktops, while only 25.07% comes from mobile devices. In other words, an average mobile device gambler bets more frequently but places a lot of smaller bets.
According to Analytics Insights, the Canadian gambling industry generated $2.64 billion in revenue in 2021, including over $1.2 billion from online gambling. According to the same report, Canadians also spend over $4 billion a year on offshore online gambling websites, while $16 billion at brick-and-mortar casinos. The latest demographics reveal that most gamblers in Canada are aged 30-50. Interestingly, 56% of Canadian gamblers are male, and 43% are female.
Crypto gambling stats
Crypto casinos are definitely booming this year, and this trend will continue to grow year by year. According to the latest Bitcoin statistics for 2022 from SOFTSWISS, crypto gamblers placed nearly 3 billion (2,925,599,422) crypto bets in the first quarter of 2021. A year later, the number of crypto bets increased by 116% to more than 6 billion (6,342,214,971) during the same period.
Bitcoin is still far from mass adoption, but more and more eCommerce websites are accepting cryptocurrency payments. There are a number of things you can buy with Bitcoin, such as real estate, cars, jewelry, NFTs, and even insurance. Despite all that, the most significant chunk of all Bitcoin transactions occurs in crypto casinos, roughly 50%, reported BeforeYouBet.
A real-life example is the Stake crypto casino, noticing over 197% growth and 40,000 search volume, according to MeetGlimpse data.
European offshore online gambling sites
Looking at another Statista report, approximately 20.5% of all European gambling occurs offshore. Gambling offshore is common in Europe, especially in jurisdictions with limited options and where online gambling is illegal. Other reasons to gamble offshore include a better variety of games in offshore casinos, more markets to bet on, and more competitive odds, to name a few. Many countries have strict regulations regarding offshore online gambling platforms, but it’s up to players to decide where to place their bets and take care of their security online.
Key takeaways: The technological impact on online gambling platforms
Wrapping up the information from this blog post, we hope you find it exciting and useful regarding all gaming trends in which this industry is thriving. From live casinos in Canada to the online expansion of crypto casinos, the number of players is constantly rising thanks to the .implementation of modern technology in many existing and new online casinos.
Over the last decade, the gambling industry has been affected by a global recession and regulatory issues, but overall, it still has a positive balance sheet. Mobile casinos, live dealer games, virtual reality, AI, and other technologies are transforming the iGaming industry and skyrocketing the betting possibilities.
So, whether you’re a passionate gambling lover or want to learn something specific about the technological impact in this world, the online gambling industry continues to prove that it’s one of the most vibrant entertainment economies in the world, with surprising novelties from day to day.