Four Technologies That Are Revolutionizing the iGaming IndustryPublished August 25, 2022 by Elana K
The online gambling industry is growing at an incredible rate. But iGaming's dynamism isn’t only measured by its total profit—it's also reflected in the introduction of new technologies. Here Slotegrator COO Dmytro Taran shares which cutting-edge technologies are currently in use and which ones have the potential to change the iGaming industry as we know it.
The online gambling industry is growing at an incredible rate. According to European Gaming, global casino revenues are expected to reach $765 billion by 2027.
But iGaming's dynamism isn’t only measured by its total profit—it's also reflected in the introduction of new technologies. Here Slotegrator COO Dmytro Taran shares which cutting-edge technologies are currently in use and which ones have the potential to change the iGaming industry as we know it.
In the last few years, cryptocurrencies and blockchain technologies have significantly impacted the iGaming industry. Bitcoin casinos are becoming increasingly popular. Cryptocurrency payments on gambling platforms offer several benefits:
- Players don’t need to share personal data
- No limit on payments
- No commission
- No intermediaries
In contrast to government-backed fiat currencies, cryptocurrencies are supported by decentralized ledgers that track every transaction, which anyone can view. Additionally, no one can go in manually and change the ledgers. As a result, anyone with access to the network can verify a transaction, and any attempts to manually alter the transactions in the network will be seen and shut down.
Privacy-conscious players appreciate the security and transparency of decentralized public records. Cryptocurrencies also offer operators protection against chargebacks. All in all, it’s a win-win situation for both players and operators.
Another benefit of blockchain technology is that all bets, deposits, and payouts on winnings can be recorded in encrypted form. Plus, players can see the general payout percentage for each game. This means that operators can prove that players actually receive the correct payout percentage.
Currently, many casinos support cryptocurrency payments, but they are only a drop in the bucket compared to those who still need to get on board.
Progressive Web Application (PWA) Features
In recent years, PWAs have become a popular alternative to native mobile apps in online casinos. Players can install PWAs directly from gambling websites using a mobile browser like Chrome or Safari, negating the need to install an app. This makes it very easy for both Android and iOS users to add casinos to their home screens. According to Taran, PWAs both attract new players and retain existing ones.
The three main features of PWAs are:
- Smooth animations, fast scrolling, and progressive loading of games provide a good user experience.
- The download speed doesn’t vary based on the quality of the connection.
- User engagement through push notifications, full-screen mode, and home screen icons.
Big data in iGaming is becoming crucial for several reasons. It allows operators to:
- Personalize player experiences. Data gathering and analysis help operators create personalized ads and promotions based on players’ interests. A personalized experience keeps players coming back for more.
- Fight fraud. Big data helps operators prevent dishonest players from committing fraud, either by claiming the same bonus many times through a VPN or using other tools to circumvent bonus terms. With big data, operators can discern player behavior that raises red flags.
- Identify players with problem gambling. Gambling is a fun pastime but can sometimes cross the line to become an addiction. Operators don’t want this—they want safe and healthy players. Big data helps analysts recognize players who display characteristics of problem gambling.
- Measure data-driven KPIs. Operators use many metrics to evaluate their success on different planes, including gross and net gaming revenue, first-time depositors, churn rate, and more. Collecting big data allows operators to measure their performance and make the necessary adjustments in whichever area isn’t doing as well as it should be.
- Manage data through customer relationship management (CRM). Big data allows operators to manage their customer relationships via a CRM. For example, Slotegrator’s platform includes reporting tools that track user behavior, allowing operators to improve operator-player relationships and retention.
The iGaming industry has not yet adopted VR/AR technologies as widely as other industries. Despite this, virtual reality has huge potential in the gambling sector, and some brands have already launched casinos in the metaverse. In the near future, there is little doubt that leading developers of iGaming content will develop VR/AR online casinos and even customized experiences for every player.