According to a research paper by ResearchAndMarkets entitled “US Online Gambling Market - Focused Insights 2023-2028”, a key factor behind the growth of the online casino and sports betting industry is the adoption of new technology by developers and operators. These innovations have gained tech-savvy gamblers' attention and spending power, producing billions of dollars in annual gaming revenue.
As a precursor to their report, they note the following:
“Factors such as the high spending power of the baby boomers and Gen X, increased adoption of smartphones, inclination toward new technology, and high urbanisation drive the growth of the gambling market in the US.”
“The baby boomers and Gen X mainly drive the market. Conversely, millennials can be termed a digital generation. They are tech-savvy, and most of them are addicted to their smartphones. This segment will drive the demand for the online gambling market in the region.”
With this in mind, we decided to look at what digital innovations have been driving the evolution of online gambling, not just in the US but across the globe.
The Mobilisation of the World
Given that the report lists access to mobile technology as a critical metric, we would be remiss not to start there. When Star Trek aired in 1966, it showed members of the Federation using PADDs (Personal Access Display Devices). Today, we are living that reality with mobile devices that have evolved from portable telephones to mini-computers that we use to run our homes and businesses, do our banking, stay connected to one another and gamble on the go.
These devices we so easily take for granted are incredible pieces of tech that combine video and voice streaming, instant touch-activated applications, high-speed data storage, the latest security and encryption protocols, and much more.
Adopting these devices across income levels, tech-savviness, languages, and countries has been a significant factor in the growth and advancement of online gambling.
The Provision of Stable High-Speed Internet
As impressive as mobile technology is, it would be nothing more than a costly paperweight without access to the internet. However, not all internet is made equal. The move from dial-up to ADSL to fibre technology has markedly impacted the internet's cost, adoption, and speed today.
The development of fibre technology, along with fast and stable Wi-Fi and mobile internet, allows developers to send more significant amounts of information, which in return means higher-grade graphics, better sound quality, and the ability to handle more complex inputs.
Advancements in High-Fidelity Streaming
It is easy to become inured to just how incredible it is to interact with another human being using a handheld device and an internet connection. Not long ago, playing slots meant going to Las Vegas. Placing a bet meant phoning a bookie and hoping you could get through in time to place your bet before the game started.
With that perspective in mind, being able to stream your favourite sporting event on your iPad and then engaging with a betting platform to take action on a play-by-play basis is an incredible achievement. The same is true of live dealer games, where players interact with a professional croupier in a specialised studio or a land-based casino halfway around the world.
The combination of the above has allowed for eye-catching RNG casino games, live-stream sports betting, live dealer gambling, and more to become readily available to gambling fans worldwide at the press of a button.
The Power of AI-Driven Betting Solutions
Sports betting has always required an incredible reliance on odds and statistics while understanding the headspace and performance of the people on the field.
Speaking on what makes the ideal betting team, Simon Noy, senior vice president of trading at Kambi, said:
“A really good sports betting team has someone who is all about numbers, another who has played a sport and has the feel and expertise. Put that in a room with all the quants, the modelling people, and the data scientists. Then you have absolute magic.”
He went on to speak in detail about the work being done by companies like Kambi to build out proprietary AI solutions, which will enhance this magic-making team by allowing them to iterate on their odds and, thereby, their customer offering at speeds unattainable by a human reviewer.
Not only that, but these same data-driven AI tools are being used to create personalised lobbies, unique offers, and specialised betting opportunities that will meet the wants and needs of the customer. Doing away with cookie-cutter promotions and communications is imperative to retaining customers in the long run.
Generative AI Speeds Up Development
The design of casino games and the UX determining how player engagement feels is another crucial aspect of the industry where AI technology is beginning to shine. Development houses like Global Wizards are bullish about leveraging this groundbreaking technology to create unique, customisable experiences at speed.
Fernando Polti, the CEO of Global Wizards, explains:
“Our venture into integrating AI with entertainment surpasses speed. It’s about expanding horizons, redrawing boundaries, and envisioning what was once deemed a dream.”
Drawing on artificial intelligence to create themes, character designs, and feature engagements and build mathematical models based on player behaviour is an exciting and effective way to grow player interest and increase the value of each new title.
These companies are also expanding into the sports betting arena using the same AI algorithms and tools to create tipster apps and other valuable touchpoints that betting sites can use to engage bettors.
The Blockchain’s Enhanced Feature Set
No review of technology that has added an incredible new slant to online gambling would be complete without mentioning the blockchain. Most people think of cryptocurrencies like Bitcoin when the topic comes up. While it has added an incredible value proposition and offers seamless peer-to-peer transactions in minutes, it only scratches this impressive development's surface.
The blockchain’s storage methodology allows players to access gaming server-level information. Historically, players could not check if what they saw on the screen aligned with what happened on the server. With Provably Fair reports, any player at a blockchain casino can pull up the hash code of any spin of the reels or deal of the cards to see that the operator showed an accurate result. This level of accountability is groundbreaking.
In addition to tracking each gameplay result, the platform offers nearly unhackable security, offers enhanced user anonymity, and allows anyone with a stable connection to access the information stored on it from anywhere in the world, regardless of local regulations.