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The online gaming sector has experienced substantial growth, attracting millions of players in the US. The surge in popularity is attributed to the industry’s diverse range of services. Most of these services are better than what you find at traditional gambling venues.
Experts predict that the annual revenue generated by online casinos will surpass $100 billion by 2025. This projection solidifies online casinos as the most lucrative entities in the gambling business.
Just to recap, the revenue from online gambling reached nearly $65 billion in 2020, and the numbers exceeded $70 billion in 2021.
With the industry’s ongoing expansion, it is hard to predict the trajectory of online casinos. This article delves into precisely that. We’ll explore the future landscape of the US iGaming industry, identifying key features to look out for in the upcoming years.
The following features are poised to revolutionize the industry and enhance your overall gaming experience:
Cryptocurrency Integration in Gaming
The integration of cryptocurrency in gaming is poised for extensive growth. The proliferation of crypto casinos has gained momentum recently, and industry experts anticipate that crypto gambling will increasingly shape the landscape of online casinos.
Three pivotal factors underpin the projected prevalence of crypto in iGaming:
Enhanced Security
Cryptocurrencies function as decentralized digital assets, affording users a notable degree of online anonymity. You can game online without exposing your identity to the public, thus elevating their online security to an advanced level.
Fast Transactions
A distinct advantage of crypto payments is their remarkable efficiency, tailor-made for online activities. Deposits and withdrawals are executed instantaneously, free from fees. In contrast, conventional payment methods, like debit cards, entail several business days for withdrawal processing.
E-wallets offer speedier withdrawals but often entail charges and disqualify online casino players from claiming bonuses and promotions. Cryptocurrencies ensure swift deposits and withdrawals and sidestep fees due to their decentralized nature.
Provably Fair Games
Provably fair is a concept that accompanies crypto gambling at the best us online casinos. It instills player confidence by ensuring that every round’s outcome is random.
Unlike conventional Random Number Generator (RNG) powered gaming, provably fair gaming permits you to verify the randomness of each round’s outcome.
Utilization of VR and AR
Game providers are gradually approaching the pinnacle of their achievements in terms of game graphics, gameplay, and jackpots. The necessity to innovate and introduce novel elements is evident, and providers are actively exploring future technologies to enhance the gaming experience.
Virtual reality (VR) is among the most prominently discussed innovations. It enables you to engage with games in 3D, immersing you in an environment reminiscent of opulent casinos in destinations like Macau or Vegas.
Augmented reality (AR) is in its early stages in the online gaming sector, given its advanced nature for the current era. It can enable you to experience in-game occurrences tangibly. This includes sensations like feeling the texture of chips during bets in poker or roulette, contributing to a heightened sense of realism during gameplay.
While immediate implementation of AR technology might not be imminent, VR-driven gaming is already in practice. NetEnt recently introduced Gonzo’s Quest VR, marking a pioneering step. Further popular titles in the US online gaming scene, like Gonzo’s Treasure Hunt, are also in the pipeline for VR adaptation.
Enhanced Regulatory Framework
The online casino industry lacks comprehensive and effective regulation across various jurisdictions. The number of countries that have enacted specific legislation for online gambling remains limited.
Notable exceptions, such as the UK, demonstrate a robust regulatory framework encompassing regulatory bodies, taxation guidelines, anti-scam mechanisms, anti-money laundering policies, and more.
Online casinos exist within the “grey market” category in most jurisdictions. Although formal legality might be absent, regulatory bodies lack the resources and legal infrastructure to control the industry optimally.
Consequently, residents turn to unregulated platforms, and the country misses out on potential benefits like tax revenue. Players also face risks of encountering unlicensed or fraudulent casino sites due to inadequate regulatory measures.
However, the situation is expected to change in the future. Online gambling’s ongoing expansion, driven by consumer demand, suggests that countries like the US will lean toward introducing regulatory bills rather than stifling this evolving trend. By doing so, online casinos can establish a more secure environment, paving the way for accelerated growth.
This phenomenon underscores the confidence shared by many experts, predicting that by 2025, online casinos will emerge as the primary profit generators within the gambling industry.
Artificial Intelligence
Artificial Intelligence (AI) has made significant strides within its relatively brief history. Today, it can outmatch human chess players and engage in conversations resembling interactions with real individuals.
Given these advancements, it’s not surprising that the gaming industry has embraced autonomous solutions.
AI plays a pivotal role in efficiently managing casinos and optimizing workforce schedules. VR and AR are integrating into the casino domain, accompanied by AI systems that forecast player preferences and reward patrons accordingly.
AI-driven marketing tools have also revolutionized how businesses tailor promotions, achieving a level of precision previously unattainable. AI is employed to monitor and detect unusual or suspicious activities.
It is a preventive measure against fraudulent activities or cheating at gaming tables. Advanced technologies such as facial recognition are used for this security purpose.
Bringing Online Experiences Offline
Online gaming platforms are progressively venturing into offline experiences for their clientele. This strategic approach is a multifaceted tool, encompassing marketing efforts, data acquisition strategies, and revenue streams.
To illustrate, these online gaming sites may extend the exciting prospect of winning tickets to exclusive live sporting events, be it a Lakers basketball match or electrifying MMA bouts in New York. Notably, prominent online gaming service providers organize and sponsor poker tournaments at various junctures yearly.
These tournaments draw in thousands of participants annually and offer amenities to all attendees. What do online casino operators gain in return? These enterprises glean invaluable insights into their customer base while fostering brand allegiance through indelible interactions.
These events effectively magnetize fresh players to their online platforms by furnishing them the opportunity to forge connections with fellow players. Expect more such events in the future as US online casinos look to attract more players to their platforms.
