How Has Gambling Improved Gaming Development In The United States?
Gambling is the method of wagering money on something of value or an event with an unpredictable outcome. The primary purpose of gambling is winning money or material goods. According to Statista, the global revenue of the online gambling market hit 60 billion USD in 2020, which is a 13 percent increase compared to 2017.
All these factors have triggered the development of online gaming, especially since the federal ban was struck down by the Supreme Court. And this has further resulted in gaming software companies like GameFactory growing increasingly competitive. However, developing an efficient online gambling platform is no walk in the park. The development process is complicated, and it involves the investment of a lot of time.
Furthermore, a lot of difficulties are sure to pop up throughout the development process. Experts suggest that it is crucial to always stick to compliance and ensure the online gambling site has the ability to distinguish underaged users and make sure they live in a country where online gambling games aren’t forbidden.
iGaming – One of the Fastest-Growing Industries in the United States
Any activities that involve wagering in online bookies fall under iGaming. For instance, betting on a live event or outcome of a game, and other forms of skill-based games such as blackjack and poker are the carriers of wagering practice these days.
According to reports, nearly 400 registered casino hotels operate in the United States, generating an estimated value of $54.8 billion in 2019. Additionally, the 465 registered non-casino hotels are found to have developed a gross revenue of more than $43 billion in the same year. All these statistics prove that there is interest surrounding iGaming.
In 2009, when online gambling wasn’t legal, the United States could only bag a total gross gaming revenue of $34.3 billion. However, when we take a look at the two figures, we can find that the cash flow has nearly tripled in ten years.
From technological advancements to the legalization of online gambling, many factors can be thought to be responsible for the growth of the iGaming industry. The various betting service providers leverage multiple features—from better visual design to excellent audio quality—to attract more customers.
Currently, iGaming is an extremely innovative industry that never stops growing. As a result, the online casino sector is also improving. New online slots are making their appearance in the market every month, and they are also bagging massive public following. At the same time, classic games like blackjack and roulette also have a steady base of players.
A Great Improvement of the System with Blockchain
Blockchain was first introduced as a revolutionary innovation, and it sure is. It removes the facilitation of a central authority such as a third-party company that processes wagers and escrow services when betting online. With blockchain, all your wagers are logged, stored, and processed across a network of computers. This will result in a transparent record that can’t be interfered with. Anyone involved in the transaction can check the record and verify it whenever necessary.
The benefits of blockchain technology are vast. Alongside delivering a new level of trust, it also adds transparency to how gambling happens and the way customer complaints are handled. Many people believe that blockchain can act as the driving force that legalizes online gambling across all the states in the United States.
Smartwatches will Result in a New iGaming Experience
Placing wagers through a smartwatch is very much possible now. In the last few years, people have been using their tablets and cellphones to play at their favorite online casinos. Currently, smartwatches are entering the arena to make online gambling more convenient and accessible.
A few experts have projected that the smartwatch industry will hit a global worth of nearly $33 billion by 2021, and gambling is reported to be a significant contributor to this trend.
Wearable technology has always been popular around the world, and it will continue to be so as gaming software developers come up with new games that can be easily merged into all devices. Whether the casinos are online or offline, the operator’s primary aim is to always satisfy their client’s requirements. Apart from offering a high level of customer service, reward programs, and bonuses, the primary motivation is to provide the best gaming entertainment.
Now, this opportunity will lie in merging the best interactive online gaming systems and technologies with the traditional charm of the older live-based casino.