The casino business is huge, with punters spending millions on bets and games in both brick and mortar casinos and online platforms like XOSlot. Finder.com reports that, in the UK alone, online casinos made a whopping £3,190 million between October 2018 and September 2019. Such a significant revenue stream warrants constant innovation to keep customers interested and coming back for more, and casinos do this extremely well.
Online casinos and sports betting sites draw in more customers to live card games, slots, and other offerings daily. However, there is a new wave of innovation defining this industry’s presence, including:
- concierge applications,
- AR gaming, and
- data modelling
These innovations are changing the industry quickly; keep reading to learn more.
Six Technological Innovations That Are Redefining Casino Businesses
Cybersecurity and Smart Camera Technology
Casinos are big business, which inevitably invites attention from criminal elements looking to make a quick profit. Brick and mortar casinos have long relied on the ‘eye in the sky’ and facial recognition technology for security on their premises, including keeping a lookout for banned customers and license plates on suspicious cars. Now, this technology is also valuable in preventing counterfeit chips and card switching, saving casinos a lot of money.
Online, cybersecurity, and smart camera technology are providing new ways for players to enjoy their games without worrying about the safety of their accounts or money. It also keeps data away from people who would exploit this information for their own gain.
Radio Frequency Identification (RFID)
Radio Frequency Identification or RFID is a technology that enables casinos to track chip labels. By knowing the location of casino chips at any given time, casino management can deactivate these chips remotely. It effectively prevents crime by erasing the digital value of these chips.
RFID is a highly effective technology. Practically, it also helps determine how often and how much punters bet, and which games they prefer so that casinos can adapt their offering.
Data Modelling
Data modeling is another innovation enhancing the casino experience. This science enables casinos to predict player behavior by picking the casino games they will likely play. It allows gambling companies and casinos to provide these games on their platforms and enhance their customers’ gaming experiences.
Live Casinos
Live casinos enable punters to place bets with changing odds, with millions using this technology to compete with other online users worldwide. All that customers need is a stable internet connection and a digital device to stream live casino games.
Augmented Reality (AR) Gaming
Another exciting tech innovation in modern casinos is augmented reality gaming, which integrates the natural and virtual worlds. It helps casinos create novel experiences for players, and younger customers are loving it. AR is both an exciting form of entertainment and a new way to make money.
Cryptocurrency Payment
The 2008 launch of Bitcoin heralded the advent of cryptocurrency. Technically, the payments go through a private network of computers linked in a shared ledger (it records each anonymous transaction simultaneously on the computer “blockchain” that updates and informs all accounts). Cryptocurrency’s decentralization makes it more secure, and it was only a matter of time before online casinos adopted these payment options on their platforms.
A Whole New World Online
The online casino industry was an innovation moving the punter away from traditional casinos to an experience from any location they wished to play, but that is only the beginning. The industry keeps growing as exciting tech innovations continue to emerge.
