3 technologies reshaping the gaming industry
The overall global gambling market is anticipated to reach $565 billion by 2022 while the global ‘online’ gambling market is estimated to be valued at more than 94 billion U.S. dollars in 2024. With such a huge market at stake, it’s not a surprise that the gaming industry is leveraging cutting edge technology and tools to attract the players. Some of the key ways technology is reshaping the gaming industry are shared in this post.
Artificial Intelligence is the buzz word in the business world and gaming industry is one of the early adopters of this technology. AI is used in gaming industry to provide a personalized customer experience via chatbots who adapt their questions based on the customer response. AI is also used to prevent fradulent activities commited via false identity usage or stolen credit card information. AI collects customer data over a period of time which is then used in the predictive data models in order to predict and analyze customer behavior. If a given customer’s gaming behavior raises a suspicion based on the predictive model, the given case is thoroughly analyzed and further verification is done to confirm if a preventive action is warranted or not.
Since AI evolves over time and studies customer gaming behavior and patterns, it is combined with machine learning to automate the complex processes of detecting 3rd party frauds and player cheating. This automation results in effective early fraud detection and prevention thus saving money and hassle for the players as well as the casinos!
2) Live Casino
Online casinos such as 22 bet casino use live casino technology that allows players to play from the comfort of their homes while still interacting with live dealers and players in real time. Before using live casino, players need to install the relevant software on their computers including the activation of their system video and audio. Once the system is setup, players can play the available games of their choice just like playing the games in a brick and mortar casino. To ensure support for the players, live chat and chatbots are made available to address any technical issue or to provide guidance on using the live casinos.
The great point about live casinos is not only that a player plays real time in a brick & mortar like setting, it is also the fact that the game results are not determined via an automated process but a human dealer determines the result. The human determined result provides the much needed human touch for the players and thus enhances their gaming experience.
Many leading online casinos now are accepting deposits and payments in cryptocurrencies including the most popular cryptocurrency – Bitcoin. Benefits of cryptocurrencies such as security, speed, convenience, and anonymity are some of the factors behind the rising popularity of cryptocurrency usage for gaming. There are online casinos which accept payments only in cryptocurrency and then there are the traditional online casinos that accept the usual mode of payments such as credit cards and also accept cryptocurrencies.
Not only the cryptocurrency based gaming is getting popular with the players, the casinos also prefer cryptocurrency due to its security and quick transaction processing advantage. Another popular trend seen in the cryptocurrency based casinos is that they offer more bonuses, promotions, and a wider variety of games. Since, cryptocurrency is a relatively new technology, online casinos are offering above mentioned perks to the players to draw them into using cryptocurrency for their online casino transactions due to the advantages associated with the cryptocurrency transactions.