How Technology Has Changed the Gambling & Casino Industry
Gambling & Casino: Both traditional and online casinos have come a long way since their beginning. The shift online is one of the biggest. Before the internet, gamblers had to travel to a casino or consult a bookie to place their bets. Today, you can gamble from your smartphone, anywhere, at any time. Game availability has changed too. You’re no longer limited to traditional casino games, and there are thousands of options to choose from. Read on to see how technology has changed the gambling and casino industry.
It’s impossible to discuss the impact of technology on the gambling industry without mentioning the internet. This is probably the single biggest change in how casinos operate. An online casino operates much like a traditional casino but without limitations on its audience or operating budget.
Government attempts to slow down the growth of online gambling have been futile, and the industry is booming like never before.
Video Streaming and Data Feeds
Part of the excitement of going to a real casino is interacting with other players and the dealer. There’s a social aspect to many casino games, and playing online doesn’t seem quite the same.
Live dealer games have become a huge trend in popularity over the past decade, and this was made possible by video streaming. Players can now see, hear, and interact with the dealer just like they would at a real card table. By creating this real world experience, more players are taking advantage of online casinos and playing from home.
Real-time data feeds operate similarly to video streaming in that they can provide remote data in real-time. This technology has revolutionized the world of sports betting as it allows people to capitalize on opportunities that occur during the game. These updates can be delivered directly to your smartphone, so you won’t have to sit in front of your laptop to stay on top of things.
Cell phone technology has made the internet accessible on the go. The gambling industry has taken advantage of this convenience by developing apps that allow gameplay from anywhere.
The interesting thing about cryptocurrency is that it was developed to bypass a loophole in the legality of online gambling. In the mid-90’s this practice was outlawed in the U.S. due to the Unlawful Internet Gambling Enforcement Act. The catch was that this act didn’t make it illegal to gamble online, just illegal for financial institutions to process online gambling payments. Bitcoin was developed as the first electronic cash system in 2009 as a solution to this problem.
In the early age of the internet, neither businesses nor consumers were aware of how much they were putting themselves at risk by sharing financial information online. The advent of cryptocurrency, like Bitcoin, has given consumers the ability to gamble in an online casino with total anonymity.
Cryptocurrency is essentially sending cash over the internet without using a third-party to complete the transaction (i.e., Your bank). Many casinos are shifting to allow players to gamble solely with cryptocurrency, increasing their security and the level of trust they have with consumers in the process.
The gambling and casino industry hasn’t just been impacted by technology but massively transformed by it. With rising trends in mobile gaming, cryptocurrency, and virtual reality, where they go in the future is anyone’s guess. One thing that’s certain, as the technology develops, the gambling industry is sure to take full advantage of it.