Long gone are the days where sports books were filled with older men smoking cigars, and casinos were filled with older women playing slots. In the last 10 years, the gambling industry has gone through a significant transition. With countries all over the world moving towards universal acceptance of gambling (Casino, horse racing, lotteries, sports betting, poker) as a viable form of adult entertainment, the face of the everyday gambler has gotten significantly younger.
The driving force of this metamorphosis has been an increased dependence on new technologies. Millennials are enamoured with the glitz that surrounds casinos and online casino websites. They also have more financial resources to invest in games of chance. The net result has been a growing population of gamblers with no end in sight. People want excitement. As long as gambling providers like Casumo offer this, people will show up to gamble.
What the industry is experiencing right now is the proliferation of new technologies that are affecting the way gambling operators operate and gamblers gamble. Let’s take a look at three new technologies that are changing the industry.
Casinos and online gambling websites now have unrivalled access to data. They collect data on gamblers through credit cards, VIP registration and gaming tracking, online account registration, mobile app downloads and the list goes on.
With hundreds of millions of bits of data at their fingers, casino operators can efficiently develop marketing programs and determine player preferences. On the positive side, that means casino operators can ask software developers to focus on certain types of games and bonus features. Bonus managers now have an easier time coming up with legitimate bonus promotions that actually bring players to the casino.
Data also allows casinos to better handle security issues. Problems gamblers can be easily flagged and restricted. Known cheaters can be easily identified with facial recognition technology and gambling profile building. Everything a customer does is compiled to give the operator a clearer picture of how to better run the operation. The ability to digitize this data is providing cost savings through lower employee counts and the need for less office space.
Virtual Reality Gambling
It has taken time, but Virtual Reality in on the verge of taking over the gambling industry. With a great number of younger gamblers flooding the industry, they are interested in the innovations they are already familiar with. PlayStation and X-Box set the Virtual Reality standard a few short years ago. Millennials enjoy the option of stepping into the heart of a game and becoming part of the experience. The technology translates to land-based casino games and online casino games. With that in mind, the time is fast-approaching when gamblers can sit down at a virtual gaming table or play an interactive role in a video slot game. By all measures, there appears to be pent-up demand among younger people for this kind of gambling experience.
Bitcoin and other cryptocurrencies are here to stay. While a majority of the world’s population remains in the dark about how digital currencies are changing the way people interact financially, the gambling industry is already embracing the benefits digital currencies offer gamblers and gambling operators. For gamblers, the benefits include swift transactions to and from the casino, low to no processing fees and anonymity. That’s where the benefits for gambling providers kick in. When customers are comfortable with the idea they can easily transact business with a casino without sharing personal information, it increases the likelihood they will become a willing participant.
The gambling industry is changing at break-neck speed. That’s a good thing for everyone involved. In the next couple of years, we can expect to see more innovations that will keep driving this industry forward. For now, everyone should buckle-up and enjoy the ride.