What Are The Different Technologies Helping The iGaming Market Grow?
Technology has played a role in the iGaming market’s substantial growth.
15:39 28 April 2022
If you have been following the growth of the iGaming market, otherwise known as the online casino/gambling industry, you have likely heard about how technology has played a role in the market’s substantial growth. In 2019, the market size of the global online gambling industry was around $58 billion, but analysts now forecast this figure will reach $92 billion by 2023. For those who do not know, streaming technologies like studio monitors and software programs like optical character recognition and native apps are behind much of this past and future iGaming growth. In this article, we will explore these technologies in more detail.
Technologies Driving The iGaming Industry
When people talk about the growth of iGaming, conversations about live casinos tend to take precedence. Live casinos and games provide players with the social side of land-based casinos while allowing them to play from their homes. Often, you will see live table games such as poker and blackjack, but there are also live features linked to progressive jackpot bingo games, where the pot can range between £100 to six-figure sums.
With live casino games, players can communicate via a chat box with a real-life dealer operating from inside a studio. This two-way interaction is made possible through streaming technology, studio monitors, and microphones, as the dealer has a microphone and can speak directly to you. You would then enter a response or question in a chat box displayed on a monitor for the dealer. By interacting in real-time, players get a taste of the atmosphere found at land-based casinos in Europe or Las Vegas.
Apart from cutting-edge streaming technologies, several software programs have played a role in the successful operation of online casinos over the years. For example, optical character recognition (OCR) software is used to track card symbols and the numbers on a roulette wheel. Most online casino operators also offer both HTML5 apps and native apps, and both technologies have improved the iGaming space, though native apps are regarded as the better of the two.
A native app is a software program created for a specific device like a smartphone rather than operating across multiple devices like HTML5 apps. Typically, native apps, which you download from app stores, use less data, run faster on a device, and enable push notifications. All of these factors help with gambling markets like sports betting. Sports bettors need quick access to markets to place wagers on odds, and they also need to be notified when games are about to start.
You do not have to participate in the online casino industry by playing games or placing wagers to appreciate the role technology has played in turning it into a billion-dollar market. Between cutting-edge streaming technologies and software programs like OCR and native apps, it has never been easier to socialize and gamble from the comfort of your living room or kitchen. Not to mention, the iGaming space hasn’t even come close to reaching its full potential yet, so it will be interesting to see how technology continues to help it get there in the coming years.