When online gambling was in its nascent stage, the strategy of operators was simple. Get as many online customers as possible and make this form of gaming as accessible as possible. The use of the internet and online casino platforms was monumental at the time, and only a select few could launch fully functional betting sites.
However, as digital technology is becoming more widespread and available, it is no longer conceived simply as a tool to get you in the business but a means to keep you afloat in an industry that is more competitive than most.
This article explores how digital transformation affects the gambling industry and what we can expect to see from operators in the future.
Technology That Shaped the iGaming Market
The ability to bring online casinos to desktop computers worldwide is owed to digital transformation and the improvement of technologies behind these casinos. Once the market was formed in the mid-90s and early 2000s, the competitive edge that some operators managed to obtain was, and still is, owed to technology.
Namely, this competitive edge comes from offering more visually appealing games, more complex game mechanics, detailed bonus features, and digital payment systems such as e-wallets and cryptocurrencies.
The introduction of HTML5-powered games was a real game-changer and a perfect example of how technology shaped the online gambling market. With it came more aesthetically appealing games that players could access from their Android and iOS devices no matter the location and the computing power of their devices.
The intricate relationship between novel technology and gambling is constantly evolving, and the only way to stay competitive is to adapt and implement that technology as soon as possible.
How to Digitally Transform Your Online Casino Business
Digital technology can be the biggest ally of any online casino business if used the right way. There are several key aspects and factors you need to consider before choosing which road you will take to transform your casino products using digital tools.
First of all, you need to observe your customers. Make sure to understand their gambling habits, what they want and don’t want to see and play, and make your move accordingly. If your customers are Gen Y and Z cohorts, going with VR games and AI-powered systems could be just the thing.
Then, it comes down to the optimisation process. You need to leverage the costs of such adaptations to the potential revenue generated from them. Having detailed data to process is essential since it will provide you with an answer to this query.
Technology of the Future: What We Can Expect to See in Online Casinos
The digital world is full of little tricks and technologies that seemingly wouldn’t fit the iGaming market. However, that is a misconception. Certain online casinos are already gaining the upper hand with virtual reality, augmented reality, artificial intelligence, machine learning, and other technologies. They are getting to know their customers better and can provide unique user-oriented gaming experiences.
One fantastic example is smartwatch betting. Who would have thought that online casinos could develop special apps for smartwatches? Users can now download casino apps to these incredible portable devices that can do so much more than simply telling the time.
The impact that technology has had on gambling is possibly too significant to measure. One does not go without the other, so it seems that operators now have a simple choice: either you optimise your platforms and implement new solutions in a way that best suits your clientele, or you perish.
However, we should note that some tech solutions are not worthy of a complete transformation of your online casino. Also, there are rules imposed by gambling jurisdictions you need to observe and be in sync with when considering how to improve your business.
Still, one thing is certain. As technology continues to evolve, so will online casinos, and the sooner you jump on the bandwagon, the greater the chances of your survival in the industry.