Five Tech trends that are changing the gambling industry in the UK
Online gambling has taken a huge chunk of the UK’s total gambling revenue.
14:11 08 November 2019
According to the UK Gambling Commission, online gambling, including sports betting, online slots and bingo, already has over 38.8% of the total gambling market. Compare that to the National Lottery, who own just 20.6% and land-based casinos who are down to 7.4%. Online gambling’s market share is growing each year. So it is clear that these casino and sports betting sites are offering players a service they do not find in traditional casinos or lotteries.
The allure of online gambling is easy to explain. Playing from the comfort of your home, from your pc or laptop is simply much easier than going all the way to some brick and mortar destination on the other side of the country. The many mobile slot games you can play are much more interactive and have higher chances of winning than the scratch cards you find at your local newsstand. Online jackpots, such as those you can find at FreeSpinsNoDepositNoWager.com, have grown to the size where they can rival and even surpass the lotteries offered by the National Lottery.
While traditional casinos and lotteries still use the same tried and tested games and methods, advancement in the online gaming industry is entirely tech based, and thus ever-evolving. Let us have a look at some tech trends that are sure to boost the success of online gaming even more.
1. Skill Based Gambling Games
Most millennials love video games and are not nearly as interested in playing slots. Adding an element of skill as well as luck is a way to make games more interesting and attractive for these players. How exactly these skill games work and what their legal status will be is not clear yet, as they are still being tested and developed. However, we are likely to see some by the end of next year. Surveys have shown that 70% of casinos intend to add skill based games to their arsenal.
2. 5G Technology
5G is a promising upgrade to the mobile network. It promises lightning fast mobile internet, faster even than your current broadband connection. When this type of tech is applied to online gaming, we could see a plethora of new games and ways to experience casino developed. It will, at the very least, lead to better graphics and more complex site design. It could also make VR tech more enticing for an immersive casino experience.
3. Payment Methods
The online casino industry is always looking for more and better payment methods. Many payment methods are lightning-fast, yet still cost either the player or the casino exorbitant fees. Other payment methods are slow and almost outdated. The traditional methods of credit cards, and bank transfers have already been augmented with Skrill and Neteller. However, new players such as Trustly are taking the market by storm. At the same time, cryptocurrencies are becoming increasingly popular.
4. Exchange Betting
One way to engage sports bettors even more is to let them create their own bets. This type of betting was pioneered by Betfair. It lets players bet against other players, and even create their own bets and odds. We are sure more betting sites will be adopting this betting style in the near future.
5. Decentralized Gambling with Blockchain
We already mentioned how crypto is making its way into on the online gambling scene. Decentralized gambling takes this even further. Dao.Casino launched an open source blockchain casino application in June this year. This application allows full transparency between casino and user, and can be used by anyone. With this type of software, anyone could theoretically create his or her own blockchain casino.