The iGaming sector today is considered one of the most profitable sectors that emerged from the technological innovations which defined the late 1990s. The first online casino software was developed back in 1994 by Microgaming. Since then, the iGaming sector has progressed significantly, encompassing everything from online betting to online casinos, online lotteries, and other games of chance. Its popularity has skyrocketed across the globe, leading to calls for increased regulations in many countries, including Canada. In fact, iGaming Ontario is a new subsidiary of the Alcohol and Gaming Commission, launched in 2021 to create a safer gambling environment in Ontario.
As one would expect, everything from online betting to online casinos is quite popular in Ontario (and Canada as a whole), while it is estimated that Ontarians spend close to $1bn a year on games of chance online. This was the main reason for the development of the new regulations and the launch of iGaming Ontario, which will help the market grow, evolve rapidly and offer more options for online gambling.
As the iGaming industry is based on technological innovations, this means that digital technologies are a major reason for the development of the industry and its profitability. Here we will take a look at some of the most important tech trends in the iGaming sector and their impact.
Mobile Technology
Mobile technology is the main factor behind the latest growth of the iGaming sector. The introduction of smartphones in our day-to-day lives has changed our habits significantly. Today we spend over 4 hours per day on our mobile devices, and it is safe to say that the number will only go up in the future.
So, it comes as no surprise that gambling platforms have modified their web presence to suit smartphones and tablets. Namely, they not only have mobile-friendly gambling websites, but they also have separate downloadable mobile applications which allow you instant access to their gaming selection or betting options.
For example, the mobile gaming scene has continued to evolve. In the future, we expect even more mobile applications to feature games of chance. However, right now, you will find that most websites are mobile-friendly, and you can use your smartphone’s web browser to access any gambling platform.
Cryptocurrencies
Cryptocurrencies are one of the latest innovations which were integrated into gambling sites. Due to the boom of the crypto market, many businesses have become aware of the benefits provided by cryptocurrencies. Gambling sites as well decided to accept crypto payments and open their selection of games of chance to a public that wants to bet with their crypto funds.
The cryptocurrencies are easy to use; they provide almost instant deposits and withdrawals, and as digital payment methods are not attached to any additional fees, even for cross-border transactions. All of the benefits mentioned above are appealing for just to the users but also to the iGaming industry.
They generally accept major cryptocurrencies like Bitcoin, Litecoin, and Dogecoin. However, in the future, we expect this to become a common practice among different online casinos, betting sites, or other gambling platforms.
Machine Learning Technology
Machine learning technology has become embedded in the previous operations of many modern online businesses. For example, machine learning technology has become the basis of smart assistants and chatbots, which can be integrated into eCommerce sites.
It also tracks the behaviour of the user from the platform and derives valuable insights which help businesses propose better solutions to their audiences. Machine Learning technology is also present on online gambling sites, and it can offer personalized bonuses, promotions, or gaming selections based on the preferences and previous behaviour of the user. It is designed to improve the experience on gambling platforms and provide customized options to a specific target audience.
