If you want to succeed in the igaming sector, technology is essential. Online gaming relies heavily on cutting-edge technology for all aspects of the business, including data, marketing, content, and payments.
In North America, legislative changes have paved the way for a fully regulated multibillion-dollar industry, creating a technological battleground for operators. Those who can deploy technology effectively or identify superior suppliers and disruptive technologies will thrive.
One of the most transformative developments in recent years is the smartphone, which allows people to bet anytime and anywhere. Smartphone technology has revolutionized gambling, from user-friendly apps to swift payments and the impact of in-play betting.
When discussing technology, it’s important to focus on the future. The coming years will bring disruptive technologies not only to gambling but also to other sectors like finance, ecommerce, and medicine. Some alluring technologies include artificial intelligence (AI), blockchain, internet of things (IoT), and virtual reality (VR) or alternate reality (AR).
AI, or machine learning, is particularly appealing for personalization, strategic automation, and responsible gambling in the online gaming industry. It can transform intelligence around customer journeys, offering a better understanding of players and impacting business metrics.
Blockchain, often considered the next big thing, has potential for independent banking and blockchain-based sports betting. However, its application to mainstream igaming businesses is still uncertain.
The internet of things (IoT) is crucial as it links mobile devices with their owners and other devices. By analyzing the right data sets, online platforms can learn how customers interact with games. IoT also enables operators to offer a full omni-channel experience by connecting mobile devices with land-based entities like casinos.
VR and AR have long been touted as potentially revolutionary for immersive gaming, allowing players to enter virtual casinos or play games on their kitchen tables. However, the current uptake of this technology raises questions about its mainstream appeal and adoption.
In the coming years, we can expect extraordinary and unexpected developments that will enhance gambling. The use of AI interests me the most, particularly in controlling and reducing problem gambling. Learning about players’ behavior and intervening when necessary can transform the relationship between customers and operators, ensuring gambling remains a safe pastime.
By focusing resources on such developments, the industry can also improve relations with the public and regulators. Let’s continue to lead in technology and use our expertise for good.
Chris Kape, an iGaming industry veteran, is the owner of Jamco Capital, a venture capital and business consultancy. He is also the founder and ex-CEO of Don Best Sports, which was sold to Scientific Games in 2018.
