No one could have anticipated the vital role that casinos play in the worldwide economy. As technology changes and becomes more sophisticated, the gambling industry shows no signs of slowing down and is predicted to grow even more significant. The online gambling market alone is expected to grow by more than $60 billion by the end of 2020.
Below are some of the most essential and profound trends that are happening in the gambling industry for the remainder of 2019, into 2020 and beyond.
Casino Player Membership Incentives
Casinos continue to offer the benefits of free casino club cards that offer discounts on rooms, food, entertainment, and complimentary bonuses. Online casinos offer similar rewards to their frequent guests such as free spins when they play online slots or place bets on blackjack and other games. Such incentives are not only attractive to guests and land and online casinos; they allow the establishment to track the habits of guests.
Big Brother Is Watching
Tracking the behaviors of casino guests can now be accomplished through with the help of NORA (Non-Obvious Relationship Awareness) software. Through the use of incentive cards or computer logins to the casino website, everything is tracked while guests are at the establishment. This type of data mining software can gather a wealth of information such as favorite games and tables, and betting habits to determine how valuable they are to the establishment. It can also look for indications of cheating or undesirable behavior.
Land-based casinos are taking advantage of technological advances such as RFID or Radio Frequency Identification embedded in casino chips and tables as an additional level of security to ensure fair gameplay. Facial recognition software is used by casinos to detect and recognize those players and others who have been flagged for security reasons. While some might feel uncomfortable with such a high level of tracking by casino owners, most of the time, however, this technology is being used positively. Casinos can send guests incentives that may entice them to play longer or targeted advertising designed to get them to come back and play again.
Acceptance of Cryptocurrencies
Because of the vast interest in blockchain technologies and the rising importance of cryptocurrencies, many online casinos are now adapting their payment systems to both accept and payout casino bets and winnings. The use of cryptocurrency eliminates the need for currency conversion rates that can change daily across international territories. The acceptance of cryptocurrencies by both land-based and online casinos also provides another level of security and helps prevent loss through theft.
Augmented and Virtual Reality Casinos
Gaming has grown to such a degree over the last decade that casinos both online and on land are wanting to add the experience of augmented and virtual reality options for their guests. Casino goers can do a virtual walkthrough with 360-degree views of the casino floor and other areas. There are even options which allow players to virtually sit down and play with other players for real money in a real-time experience that makes them feel as if they are actually there in the casino.
Brick and Mortar Casinos Losing Ground to Online Casinos
Citing increased fuel prices, a stagnant travel economy, and the availability of online casinos through smart devices and computers anytime, anywhere, online casinos are gaining on actual land-based casinos. Site upgrades and the inclusion of new games can be done to an online casino far faster and at considerably less cost than to a casino in Las Vegas or Atlantic City.
Industry experts estimate that 41% of visitors to online casinos will place their bets while on the go from their smartphone or mobile device. Frequenters of online casino sites are using the money that they might otherwise spend traveling to an actual casino and putting those funds toward increasing the time and money they spend on virtual games.