6 Tech Trends Shaping The Gaming Industry
Technology has changed the way and process of many industries, and the gaming industry is not left behind in this. It has made it more accessible, convenient, and safer.
These impacts are not limited to speculating on the results of sports events – they can also be found in the way casino games are played, and how sportsbooks like Fanduel.com set their odds and interact with their customers worldwide, among other things.
Table of Contents
Popular Tech Trends In The Gaming Industry
Technology has been a make-over tool for companies, markets, and industries, giving them opportunities to break new barriers and reach new heights.
These are the major tech trends that have been shaping the gaming industry.
1. Secured Diversified Payment Gateways
One of the biggest trends in gaming today is payment diversification. The rise of online casinos means that players have access to various payment methods. As a result, it is no longer as important for operators to accept only cash and check deposits. This has opened up new opportunities for punters and businesses alike.
One example is cryptocurrency—a form of digital currency like Bitcoin that can be used as an alternative payment method at online casinos. Any organization or group does not control cryptocurrencies; instead, they rely on peer-to-peer technology where users interact directly with each other through encryption techniques.
While cryptocurrencies have been around for quite some time now, their use has picked up significantly over recent years due to several factors:
- Growing awareness about their potential benefits.
- Increasing accessibility via mobile wallets such as Coinbase Wallet.
- Developments within security systems like blockchain technology.
2. Hybrid Gaming Experiences Through AR and VR
Augmented reality (AR) and virtual reality (VR) have been making waves in the tech world for years. But they recently became widely available to the public, with AR being used in popular apps like Pokemon Go and VR headsets like Oculus Rift reaching consumers. And now that these tools are accessible to a wide range of people, they’re also poised to take over the gaming industry.
VR will allow speculators to fully immerse themselves in their games and experiences by placing them inside an alternate reality—a perfect setting for casino games such as blackjack or roulette, where players can see and hear everything going on around them. By contrast, AR will merge real-life environments with digital content while offering additional layers of information about a game or event through a mixed reality (MR) interface.
3. Internet of Things (IoT)
Internet of Things refers to objects with the capacity, processing ability, and technology to merge with other devices or networks over the internet and share data in the process.
The gaming industry has already experimented with IoT-enabled technologies like smart glasses that allow players to wager on their mobile devices. At the same time, they play blackjack or roulette at tables in casinos or race tracks across the country.
These technologies have also been used for table games such as poker and baccarat, where they are used to track player behavior and make predictions about how they might react based on past outcomes.
Blockchain, the technology that allows cryptocurrencies such as Bitcoin and Ethereum to work, is a digital database that records transactions. In addition to tracking each transaction made on its network, blockchain provides transparency and security because it’s decentralized; there is no central database for hackers to attack.
Blockchain has many uses besides cryptocurrency. Blockchain technology could prevent fraud by providing players with complete transparency over their gameplay data. Blockchains are being specially designed for this purpose, and it has improved the credibility of many casinos and their offered games.
5. Big Data
Big data is any data that is too large for traditional database management techniques. The volume of big data has grown exponentially, and conventional methods for storing and managing this information have been inadequate.
Big data analytics use complex algorithms to analyze large datasets to find patterns, trends, and anomalies to predict future outcomes.
One of the most significant benefits of online gaming is that it offers a wealth of information about customers. The online space has opened up a whole new world of possibilities for collecting and analyzing data from customers. A company with access to this kind of information can use big data techniques to retain customers, improve their experience, and disburse information about new products or services.
The first step to using big data in the gaming industry is collecting as much information as possible about your customers’ behavior on your site. This can include everything from how often they visit your site, what games they play there, how long they stay on each page before navigating somewhere else on your website—even something as simple as whether or not someone abandoned their shopping cart during checkout, which might indicate that the user thought the price was too high.
Once you’ve collected this information from all visitors over time (and maybe even outside sources), you can analyze patterns within it to better understand why people act the way that they do on your website. You might notice, for example, that some market segments tend toward higher spending per visit than others. If so, then this could be an opportunity to appeal to each group of customers by offering relatable incentives such as discounts off future spins, bonuses, and loyalty packages.
6. Mobile Gaming
The rise of mobile gaming has been dramatic, as it’s arguably become the biggest trend in the gaming industry in recent years. According to Juniper Research, worldwide mobile casino gaming revenue is expected to hit $64 billion by 2022—a figure that is more than double that of 2017 and nearly four times that of 2012.
This growth isn’t only happening in Asia and North America – it’s happening across all regions, including South America and Australia, where online wagering has traditionally been hard to find. It also seems like an unstoppable force for good.
With smartphones now being used as wallets rather than just phones, giving an era of convenience, there are fewer barriers between people who want to speculate and those who do it, especially when compared with going out into a casino or finding a land-based bookmaker instead.
However, it may seem like anything on our phones is better than nothing. Still, there’s one major reason why this might not be true. While mobile gaming tends to be cheaper than its non-mobile counterpart largely due to its lower barrier of entry, it doesn’t necessarily mean it’s more profitable. Some experts even argue that if you’re looking for maximum profitability, stick with playing at casinos rather than switching completely over to mobile mode.
The gaming industry has always been open to using new technology. But in recent years, the industry has even embraced innovation and technological trends more than at any other point in its history. These innovations have greatly changed how people play games and place their wagers – the result has been a massive gain for everyone involved with the industry.