Evolution of Online Casino Gambling

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Online gambling is a very lucrative industry in the world, and playing online casino games is the most prolific form of online gambling.

Thanks to the Internet and technological advances, the online gambling industry has grown rapidly over the last two decades.

According to Statista, the current size of the online gambling market will be about 66,7 billion US dollars in 2020 and expects to be worth 92,9 billion US dollars by 2023. 

The Figures

The online gambling industry is growing at an exponential rate due to the emergence of new technologies such as hybrid games, virtual reality (VR), and augmented reality (AR), among others.

Casino operators are using these technologies to differentiate themselves from their competitors. In this highly competitive industry, it is vital to keep abreast of new technological trends.  

At present, there are millions of registered casino users worldwide, and competition will be increasingly fierce in the coming years. 

The global online gambling market is projected to grow at a CAGR of 8.77%, during the forecast period from 2019 to 2024.

The Global Casino Gambling Market includes Blackjack, Baccarat, Craps, Poker, Roulettes, Slot Machines, and other casino games. It is expected to grow from USD 6,247.75 Million in 2019 to USD 8,443.56 Million by the end of 2025, which means an annual growth of 5.14%.

Live dealer casino games have not been with us long, they are relatively new. However, since the beginning of online casino games, about 20 years ago, the live game has grown to become one of the most popular gambling activities in the world.

The Beginnings of Online Casino Gaming

Online casino gaming was born in 1995 when Microgaming created the first online casino software. The company installed it on its Gaming Club website, but unfortunately, real money couldn’t be wagered because at that time it was not possible to securely transfer funds between the player and the casino.

But in the same year, a company specializing in online real money transactions, CryptoLogic, set up InterCasino., a platform where players could go and wager real money with the chances of winning big.

Later, in 1998, Planet Poker was launched online, the first poker website. From this year on, the online casino gambling evolution has come a long way till the present day.

Present / Future 

Advanced technological innovations are bringing new projects and unique ideas to the market. This trend continues every year, including the current 2020, which despite being a difficult year, the gambling industry is still on the rise, and these are the online gambling trends for the coming years, some of which are already underway.

Virtual Reality and Augmented Reality 

On the market, some online casinos provide an authentic gaming experience where players can explore the virtual casino. Although virtual casinos are still in their infancy, they are gaining ground including some amazing characteristics. Typical features of virtual reality casinos are realistic slot machines, 3D game tables, in-game chats, detailed game rooms or real Casino sounds.

Concerning Augmented Reality is already in development to take virtual online gambling to the next level. AR technology will make it possible to superimpose real-world objects into the digital environment.

Artificial Intelligence and Machine learning

The development of AI influences the customization of games for users. It can help users to save time searching for the right game. Protection against cheating players and detect fraud by analyzing patterns, which helps operators to prevent fraud. Detection of gambling addiction.

Machine learning focuses on the development of computer programs that can access data and use it to learn for themselves.

Cryptocurrency and Blockchain Online Casinos

The use of cryptocurrencies is a payment method for all users and has many advantages such as the fact that they are anonymous and no one can trace them. This makes the transactions extremely secure and fast, as the transfers are immediate.

The casino industry already uses Blockchain technology. The advantages are that actions proceed very fast and anonymous. Information on transactions is stored in a public smart contract and transparent, and users or operators are not able to manipulate data.

Social and Mobile Gambling

Players can accept challenges, play community games, joining discussion forums, or even chatting in Virtual Reality. This 2020 should also be the year of improvements in mobile gambling. Still, many online casinos offer only browser-based mobile games while more than 60% of traffic is usually mobile.

Also placing bets via a smartwatch is now a very real thing. 

Telegram Online Gambling

There is the option of Telegram casino, in which players can play community slots, participate in discussion boards, chat in VR, using Telegram app .source code to create Telegram-like messaging applications on Telegram platform itself and free of charge.

London Betting Shop is already offering this option in Telegram to its audience community. We have created LBS Bot, a kind of fantasy tournament for sportsbook betting. Joining our channel, you can bet with your friends for free (virtual currency). This time the number 1 bettor has the chance of winning a PS5!

Other Innovations

The rapid rise of technology, constantly evolving allows that other innovations are already happening. The upgrading of Slot Machines as well as the introduction of New Table Games bring to the player better and exciting new iGaming experiences.

Now you can play your favorite Live Casino Game at London Betting Shop!

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Gambling can be addictive. Please know your limits and gamble responsibly