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The Future of Gambling
As technologies emerge and the global economy shifts, the future of gambling is gearing up for some large changes. No longer are traditional slot machines enticing for the average consumer. Instead, many are turning to more interactive experiences as a way to risk their cash. What these shifts mean for the average casino remains to be seen, but if you’re a frequent gambler, prepare yourself for some of the following changes to take place.
Remote Gambling Could Emerge
While the United States banned online gambling in 2006, it was previously a thriving enterprise. In 2004, online gambling accounted for more than half of the industry’s overall revenue. This method could quite possibly make a return sometime soon. In 2013, New Jersey became the first state to legalize online gambling, while Delaware and Nevada passed laws to partially legalize online gaming.
The United Kingdom is an example of the potential for remote gambling. From October 2014 to September 2015, the industry made a total of 12.6 billion pounds. Of that amount, 29 percent was from remote gambling. Experts estimate that wages for online gambling will rise from 553.6 billion in 2016 to 946 billion in 2021 – a rise which will likely correlate with an increase in profit.
Bitcoin Gambling Could Soon Be Real
If you haven’t heard of bitcoin, it’s a virtual currency that emerged in 2009. You don’t use physical bills or coins: All transactions occur through the web, with nothing intervening to pilfer your funds or banks to charge fees. Bitcoin could naturally become a prominent figure in online casinos, as the currency would be simple enough to spend and earn, with all funds immediately being transferred to and from your account.
Malta recently took a step forward to make this idea a reality. The Malta Gaming Authority initiated a technical study to determine the best ways to integrate bitcoin into the county’s gambling. Leaders here wanted to better understand the legal implications of such a move while protecting consumers and preventing money laundering schemes. The results of the study should be concluded in late 2017 and could be a factor in the future of bitcoin in gambling.
Virtual Reality Could Be a Big Player
Younger generations are betting less than they used to previously. Studies show that 18- to 24-year-olds, in particular, have a decrease in gambling habits compared to two years ago. In an effort to reach out to this technologically minded demographic, many casinos are trying to integrate new features into their games, such as virtual reality.
Some casinos already offer this capability. SlotsMillion was the world’s first virtual reality multiplayer online casino that opened in 2015. When playing here, visitors can choose an avatar and experience exhilarating graphics and sound effects when they win big.
While no one knows for sure what the future of gambling holds, the three factors above could play a large role. In order to survive, casinos will need to adapt to consumer trends with new innovations.
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