The Impact Of Technology On The Gambling Industry

by whatsmind

The mobile industry’s worth was estimated to be over $100 billion by the end of 2017. Technology’s contribution to the growth of the gambling industry and the development of the betting industry has been quite significant in the past.

The process of investing money into a game, gambling involves playing the odds or wagering on something in hopes of winning. Due to the positive feelings and adrenaline rush associated with this practice, gambling is considered immensely popular across the world. Even with the risk involved, its allure hasn’t changed since its advent.

There has been quite a lot of changes happening in the gambling and betting industry. However, it is still a popular pastime and hobby for Americans.

From playing cards to dice rolling in 100 A.D. to new casinos online and in apps, it is quite evident that technology has changed the way people play.

Artificial Intelligence and the Casino Industry

Artificial Intelligence (AI) is a rising technology that has been massively growing in the last few years. Experts suggest that this technology can highly benefit the online gaming and casino industry.

AI is also pretty common in the present day. You can find it almost everywhere on the internet. For example, the chatbots you see on most consumer service portals operate on AI. It assists people with answers to some of the most common queries, thereby eliminating the need for an actual customer care representative. There also exist chatbots on the web that guide users through processes such as navigation, payment, etc. Alongside these functions, AI also helps create machines such as “Player Vs. Machine” for practice. If you are interested in learning AI, then you must have a look at this Applied AI Course that will teach you AI end-to-end through industry mentors for a bright career ahead.

Mobile Apps and the Changing Face of Betting

The Impact Of Technology On The Gambling Industry
The Impact Of Technology On The Gambling Industry

With the invention of mobile phones and the internet, a lot of industries began embracing new changes, from shopping to restaurants. In the present world, you will find it hard to see a business without a digital footprint. The same applies to the gambling industry too.

In 2012, mobile gaming rose by around 75 percent. Further, between 2013 and 2015, it again grew by an additional 84 percent.

Currently, the number of wagers that happen through mobile devices happens to be around $100 billion. In addition, about 164 million people access a mobile casino these days using mobile devices to bet on sports or purchase a lottery ticket.

Furthermore, the mobile gaming industry took 40 percent of the total gambling market by 2018. All this growth points to the one fact that mobile apps are vital for the betting industry. However, that also gives rise to another dilemma—when an increasing number of people wager from the comfort of their own homes, how will bookmakers ensure their shops stay relevant?

Also Read: The Doctor of Thuganomics

Technology’s Impact on the Betting Shop

The primary challenge that traditional betting shops and casinos face these days is attracting customers into their shops. The competition from mobile apps that allow users to play games and bet from their homes or while on the go has resulted in people rarely visiting a brick-and-mortar casino. For this reason, various betting shops are currently embracing apps and technology to stay relevant in the market. A few of these technologies include touch screen betting kiosks that let gamblers enjoy socializing while benefiting from their wagers.

Despite their lack of technology, traditional bookmakers offer their users many essential things that online sportsbooks can’t. When you bet online, you are limited to using either your card or another online payment channel, which can easily result in overspending or identity issues. When you are gambling in-store, you can use cash, and therefore, you will have an idea of how much you are spending and when you should ideally stop.

Furthermore, brick-and-mortar casinos also add a social aspect to betting that online chat rooms on online sportsbooks fail to replace. Between bookies and customers, the feeling of being part of a community can’t be experienced when playing through a smartphone screen at home.

By adopting tablet kiosks, the in-store experience within bookmakers is getting better. It also helps bring the usability of the mobile apps to users alongside the sociability of the bookmaker. Using integrated devices, you can do everything from printing tickets to scanning loyalty cards and more.

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