Gambling is one of the most common pursuits globally. Throughout the world, gambling is used for entertainment, relaxation, or (for the rare few) to earn a sustainable living. Gambling technology has led to many innovations in the industry from how games are set up to how they’re played and how our personal information and data are stored and secured.
Below we list eight technologies that are shaping the gaming industry today.
Cybersecurity and data privacy is taking a bigger role in society. No entity – individuals, households, businesses, or governments – is safe. According to BreachTheSecurity, 400,000 hacking attempts are made in the US and UK each day alone.
Millions fall victim to cybercrimes each year due to an inability to protect their transactions and files with quality data protection/cybersecurity services. More gambling companies are working to build trust by employing top data protection and cybersecurity companies to provide data protection services and security for their clients.
These companies are helping customers protect their data by using innovations like Behavioral Analytics and Embedded Hardware Authentication to detect unauthorized access.
Online gambling platforms
Online gambling is one of the clearest ways of how technology has revolutionized the industry.
Before, a gambler had to physically visit a brick-and-mortar casino or gambling shop before being able to make bets for real money.
With the advent of online gambling platforms, millions of people can enjoy thousands of games from anywhere in the world so long as they have access to the internet and a computer, smartphone, tablet, or another connectable device.
To provide the same quality of experience that comes with the physical casinos, online casinos need to invest heavily in their digital gambling platforms.
Live casino enables gamblers to place bets on games with changing odds. In-game betting has helped casinos provide additional revenue streams beyond simply betting before an event happens.
For example, in the sports world, if you were to bet on a 49ers-Cowboys game, typically you could only bet on the spread or moneyline. Now, you can bet on a trove of events as they happen in real-time.
Now millions of gamblers from all over the world can play live games with other users without having to be there in before. All you need is an internet connection and a way to watch or livestream live games.
Blockchain technology and Cryptocurrency
Blockchain technology allows for a neutral, automated record and transfer of information.
Furthermore, with the increasing popularity of cryptocurrency as a store of value, a speculative instrument, a currency alternative, and an efficient way of moving money around, many gambling companies now allow bettors to fund their accounts in bitcoin and other cryptocurrencies.
Blockchain technology will also help provide protection against fraudsters who may attempt to override the system.
Geolocation Tracking Technology (GTT)
One of the early issues with online gambling platforms involved users accessing these sites illegally.
Geolocation Tracking Technology is an asset that helps the gambling industry solve this problem.
GTT tracks the IP used on the gambler’s device to detect the current location of a user. If the bettor is not within the borders of the cities, countries, or jurisdictions where gambling is legalized, GTT will automatically prevent the gambler from accessing the online gambling platform.
Augmented Reality (AR) Technology
Gambling is not just a way of making money (hopefully), but a source of excitement.
Augmented Reality (AR) technology, creates an illusion between the real world and the digital world, is one of the latest innovations that gambling companies use to provide a compelling gambling environment for gamers.
Virtual Reality (VR) Technology
Virtual Reality (VR) technology involves the use of wearable devices like electronic goggles and other wearables to provide a virtual gaming experience for gamers.
Gamblers can enjoy a game in 3D as a way to experience things in ways they never could from their physical location or in the real world, in general.
Data modeling is important for casinos and betting shops as a means of predictive analytics. Effectively collecting and modeling data and obtaining insights is a valuable way to predict gamblers’ behavior and the games they’re most likely to play.
This can provide casinos insights on not only how to steer customers to these games on digital platforms, but also to provide better versions and qualities of games.