Online gambling is an umbrella term to describe any sort of gambling activity conducted on the internet. From virtual poker and casino games to slots and sports betting, online gambling is a relatively new praxis of entertainment.
However, with the advancement of technology, it is not absurd to assert that online gambling will be the new normal in the upcoming days. This article is intended to throw some light on the rise of online gambling, where it stands as of now, and how it will take over the gambling industry in the future.
The Switch from Land-Based Casinos
Although gambling has been prevalent among humans since the beginning of history, the first gambling houses – somewhat comparable to modern-day land-based casinos – were established in Venice in the 17th century. So, when land-based casinos bloomed in Europe and America in the 19th and the 20th century, what exactly gave rise to online gambling? We will make two factors responsible for this change – globalization, and digitalization.
The first online gambling ventures started coming up in the mid-1990s. Microgaming, a software company from the Isle of Man, is claimed to be the first to develop an online casino. By the late 90s and early 00s, online gambling became more popular and widely accepted, as the number of people participating in such activities increased progressively. As of 2021, the global online gambling market is valued at over 72 billion USD and is growing at a compound annual growth rate of 11.7%.
It has been more than two decades since the appearance of online casinos, but the present-day online gambling scenario is entirely different from what it was back then. With few table games and slots, the quality of the games and other features offered by the early online casinos were embryonic in nature. However, rapid technological advancement has urged the developers to come up with more and more avant-garde ideas resulting in modern-day online casinos that not only excel in the quality and quantity of games but also showcase state-of-the-art features like Bitcoin casino free spins that improve the gambling experience of their clients.
Online Gambling – Where Do We Stand?
Someone who’s familiar with the taste of online gambling is probably aware of the modernist features being incorporated into online casinos. The noteworthy features that describe a modern-day casino are explained below:
A Vast Collection of Games
Classical table games like blackjack, roulette, baccarat, and poker provide the vintage feeling of land-based casinos. However, slot games, which are counterparts of slot machines, constitute a significant portion of online casinos.
The highly advanced graphics, sound, and animation of the online slots make them fun to play. The number of slot games featured in the best online casinos is gargantuan, crossing the thousand-mark very frequently.
Online casinos are not just about gambling activities controlled by a computer. Live casino gives the feeling of gambling at a traditional casino to its users, where games are conducted by a human dealer in real-time from behind another screen. All you need is a stable internet connection and a device to enjoy this feature from the comfort of your home.
The online gambling industry is highly competitive these days, which needs casino operators to launch several enticing bonuses for their clients. A welcome bonus like a deposit bonus will likely generate enough capital for a player to put at stake. Some casinos have gone to the extent of offering no deposit bonuses, where you receive a certain amount as soon as you sign up for that particular casino.
Referral bonuses and cashback features are also widely available. Other forms of reward include free spins, which may appear alongside deposit bonus or in-game. The casinos also have VIP programs for steady clients and offer similar other loyalty bonuses to regular users.
Payment Methods and Cryptocurrency
Digitalization has engrossed the economic sector as well. Needless to say, the online casinos have grabbed it as an opportunity to incorporate these features into their business. The traditional bank transfer methods are getting replaced by faster and more convenient methods like e-wallets and cards.
Skrill, Neteller, and PayPal are the commonly used e-wallets accepted by online casinos. In addition, credit and debit cards from Visa and MasterCard and prepaid cards like Paysafecard are widely available. These mediums, besides being safe and reliable, convert any currency for a nominal rate.
Digital currency controlled by blockchain technology is one such progressive feature that is being acclimatized by online casinos. Cryptocurrencies like Bitcoin, Ethereum, and Litecoin are widely accepted by the best online casinos worldwide.
Online casinos have an efficient customer support system where you can mitigate your queries or file your complaints via live chat, call, or email. As a result, client satisfaction is highly prioritized by the online gambling industry.
Online casinos are coming up with mobile-friendly versions that enable you to gamble from anywhere just by visiting the casino site from your mobile browser or by downloading an application of the same. This essentially makes gambling handier than ever.
What Lies Ahead? The Future of Online Gambling
We’re already reaping the fruits of technological advancement, and online gambling will be no exception. So let’s take a quick look at what the online gambling industry will look like in the upcoming years.
Many betting sites, including a betting site without verification, are already on the rise, and we can expect more of them in the future. In addition, it is possible that online gambling is going to get integrated with the Metaverse, where a player can access the casinos just with a simple click via sites like Facebook. This will save time and energy and spare the players from the lengthy pre-game verification process.
Artificial Intelligence will surely be the next big thing in the online gambling industry. Of course, it is pretty mystifying to imagine the extent of artificial intelligence in our lives in the upcoming days, but we can indeed picture AI-driven chatbots guiding us through online gambling and keeping track of behavioral issues like gambling addiction.
3D and Virtual Reality
We already have a taste of 3D in movies and video games, and it is just a wait of time before casinos start to incorporate them. It is pretty predictable that 3D is going to evolve into virtual reality and other holographic technologies to enhance the gambling experience. Virtual reality will let you analyze every game aspect from the first-person point of view.
Certain elements of virtual gaming, like zooming in and out or playing the game from a different angle, will ensure that the players find it no different from real-world gambling. Although these sorts of claims are criticized for being exceedingly ambitious, it is wiser for you to bet on the side of the appearance of these technologies in online gambling.
How about operating everything using hand gestures instead of relying on buttons anymore? The gesture control technology will bring such a privilege with the help of virtual gambling backed by multiple 3D cameras.
Crypto-gambling is already on the rise, and thanks to the best casinos available on the internet, all of them have started accepting cryptocurrencies as a viable mode of transaction. The popularity of crypto in the gambling world is predominantly due to their anonymity and security. Therefore, it is easier for the operators to conduct transactions via digital currencies.
On the other hand, players who are skeptical of fraudulent activities and hacking can utilize these digital currencies generated from digital wallets without sharing their gambling information with third persons like banks or other economic institutions.
Other features like gambling via wearable gadgets like smartwatches, interactive slots where every round takes you to a new adventure, and more live casinos are some of the expansions of the already prevalent features that are going to take over the virtual gambling industry.
The Bottomline: The Future is Better Than We Think
In a fast-moving world driven by technology, it can be predicted that changes are going to take place sooner or later. However, the future will not restrict itself to our imaginary powers. From an optimistic point of view, online gambling is undoubtedly going to reach astounding heights in the future. Therefore, the best way to enjoy gambling is to live the present and look forward to the surprises awaiting us from their side.
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