Today, the gambling industry is worth in excess of £14 billion, and 37% of that comes from the remote gambling sector, i.e. Online casinos, bingo sites, and other betting websites. There are dozens of online casino brands, so players can take their pick. The stats were published at the end of May and cover the UK gambling industry's performance pre-coronavirus. Even without the recent rise in online activity, the remote betting and gaming sector. Latest Casino and Gambling News, Gaming Industry News, Economy/Finance, Poker, Online Gambling News, Sports betting, United Kingdom In the United Kingdom and online and land-based sportsbetting operator Flutter Entertainment has announced that its net revenues for the third quarter rose by 30% year-on-year to top £1.32 billion ($1.74 billio. The online gambling market in the UK contracted slightly during the Covid-19 pandemic between March and August, according to statistics from the UK Gambling Commission. The number of bets online fell two per cent, of which real event betting decreased by 12 per cent and the number of active customers was also down, by seven per cent.
According to the UK Gambling Commission (UKGC), The National Lottery and brick and mortar casinos were overtaken by online gambling in 2019. The UK casino market reflects this development well, as.
The live streaming sector continues to grow at a rapid pace, with the market expected to generate more than $70 billion next year. Streaming has created communities and driven revenues in the video game market for a number of years, but it is only recently that other industries have started to take note.
2020 has seen a sharp rise in the number of live 'cook-alongs' with celebrity chefs, live musical 'play-alongs' with up-and-coming new bands, and the i-gaming sector has also started to embrace the new technology. In its first wave of hype in the 2000s, poker had become a game that people tuned in to watch from home like they would a game of tennis or football, with dedicated poker television channels springing up around the world. However, the US clamp down on online gambling with the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006 marked the end of the first wave of poker, and viewership numbers dwindled.
The environment today has changed dramatically. Online gambling has grown to become a global phenomenon, and despite continued strict laws surrounding such games in the US, people are once again excited to both play these traditional games and watch live streams of others doing so. However, if live streaming is going to be a game0changer for online gambling, then the industry will need to fully embrace streaming and the democratisation that comes with it.
Streaming platforms need to be game agnostic to succeed. Developers can add all sorts of multiplayer and community features to their games, but it has become clear that it is only when you bring players from across a variety of games together that you can get the critical mass of people watching for the platforms to become a success. Those that want to watch others play at the tables, should not have to choose a different streaming platform every time – it should not matter whether the participants are playing and South African online casinos for real money or Malta-based casinos for free – the games should all be streamed via the same platform.
If gaming firms manage to get this right, they could have the right vehicle to finally attract the 18-35 demographic. Until now millennials have been generally luke-warm towards online gambling, but they make up the majority of live streamers, and so involvement with such platforms could prove lucrative for i-gaming firms.
Lloyd Purser, COO of Funfair Games, recently explained the possibilities of live streaming for the industry in an interview with SBC Leaders, saying: 'Streaming has turned slot play on its head, bringing it out of the shadows as a single-player, solitary experience into a shared one, and multiplayer games are, and will, continue to do the same by driving new levels of community and engagement. For the time being, the multiplayer sector is relatively untapped, however we firmly believe it has as much, if not more, potential to grow within the casino world as streaming.'
The gambling industry in the UK has witnessed huge transformations in the last 20 years. New research provided by New Casinos UK found that new casino sites have witnessed a lot of shifts and many new brands have entered the scene in acquisitions, mergers, and other things. However, it's actually the impact of technology that has fueled the growth witnessed in online gambling in the UK.
According to the UK Gambling Commission (UKGC), The National Lottery and brick and mortar casinos were overtaken by online gambling in 2019. The UK casino market reflects this development well, as more people are now playing online.
In the article, we tried to highlight the major technologies propelling the growth witnessed in the online gambling industry.
Data Science
Big data used to be a buzz phrase in the past, but that's no longer the case. Nowadays, large volumes of data are generated by casinos, and through data science, this data is easily interpreted and its power leveraged on. Data scientists and other specialists in the data management field are now employed by the biggest casino operators, and they also employ the most advanced data software to get the best data. By relying on the benefits of data, present-day operators are able to offer customized or personalized overall user experience to the account holders.
Artificial Intelligence (AI)
One of the biggest trends in the tech world that works across many industries is artificial intelligence. Operators employ AI solutions like chatbots to boost customer service delivery in the gambling industry. Data collection and analysis is also achieved through AI in the bid to deliver accurate product personalization and customization for players.
Through AI, user engagement is boosted with the help of quality automated interactions. Another benefit of AI is that it helps to fish out problem players and also to ensure that responsible gambling prevails. In the entire online gambling industry, this development stands as one of the best.
Cloud Computing
As many people move to online gambling, the demand for seamless playing experiences increases. Clients seek more personalized or customized experiences. Through cloud technology, improved performance and scalability is achieved, and these enhance security, data analytics, and other capabilities. Through the cloud, these platforms also meet the very strict data management regulations imposed on them by the regulatory bodies.
Blockchain Cryptocurrencies
For a very long time, the online gambling landscape had the problem of low payments and the issue of safety of payments. However, the use of blockchain technology to authenticate cryptocurrency transactions has made it a seamless process, with more layers of security added to the entire process for the platforms that accept it.
The popularity of cryptocurrency casinos has soared, and through this, banking has become more efficient, more secure, and faster. Through these crypto coins, anonymous payments can be achieved, and they're cheaper than payments with other methods. For those regions where there are no locally licensed casino platforms because of laws against online gambling, locals can easily access their favourite games through the cryptocurrencies.
Augmented Reality and Virtual Reality (AR and VR)
These are the two most trending technologies in the world of gaming. AR and VR casino games are now being released by gaming developers and they deliver a more realistic, interactive, immersive, and authentic gaming experience. Through the immersive gaming experience, customers get more satisfaction.
As the income-earning population is made of more millennials, the fortunes of the gaming industry are now being revived by VR and AR, which are mostly preferred by people of this age. These VR headsets and other hardware is now commonly available, and through this, interest in the new technology is increasing.
Live Dealer Games
Players that want to enjoy more authentic and realistic gaming experiences are in love with online live dealer games. This system presents them with a real human croupier on the other side of the screen and they also get to enjoy the live chat feature, where they can interact with the dealer and other players. The thrill of the online casinos is taken a notch higher by live dealer blackjack, poker, baccarat, and other games.
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Final Thoughts
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The tremendous growth witnessed by the online gambling industry in not just the UK, but all over the world, is being propelled by new technology. When you're searching for the best place to enjoy games, make sure you take these innovative features into consideration. When you choose platforms that offer them, you'll enjoy a better experience. These are the trends that are defining the boom witnessed by the industry.
