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2024 Gambling Trends - The Future of Casinos and Betting

The last five years have seen a lot of change in what has swiftly become one of the biggest and most disruptive industries in the world. Even the last two decades have had a monumental effect on the industry - being almost unrecognizable in today’s world.

Each year has brought with it more advancements, often spurred on by developments in technology that have underlined the forward progression of the gambling sector, both from in live online casinos and also land-based venues.

In essence, the last 20 years have witnessed an upward trajectory, and everything points to the fact that this will only continue in years to come.

There are certain factors that will have an influence on the movement of the industry over the coming year, with, in some cases, the foundational development having been created over the last couple of years.

This year promises to be one of the most exciting yet for the gambling industry and all those associated with it. Below, we have reviewed some of the most anticipated up and coming trends of this year.

Gambling industry trends

Increased Appropriation of Blockchain Technology

Last year saw the tentative utilization of blockchain technology in online gambling. This is gradually becoming big business in the gambling sector, with multiple casinos having integrated the technology in order to reap the benefits of the advantages that it has to offer.

There have always been issues surrounding fairness in the industry when it comes to slots and, indeed, casino sites, so the widespread implementation of blockchain can help pave the way for more trust in the gambling industry among customers from a reliability perspective.

Currently, this is still very much in its infancy, especially in the gambling industry, though it is both hoped and predicted that it will become a fundamental part of the sector, in the same way, that it has essentially become a standalone itself, particularly in relation to cryptocurrency.

In itself, there are numerous advantages of blockchain that can benefit the industry, security being prime among them, with many customers still facing concerns about the safety of their funds - especially with new casino sites. Blockchain also helps to reduce the risk of fraud, which for the industry will be considerable.

Gradual Virtual Reality Integration

Having already made an impact in the gaming industry, virtual reality (VR) is widely predicted to have a game-changing effect on online gambling, a move that could completely revolutionize the way customers interact with casino sites.

While they can already enjoy online casinos from the comfort of their desired surroundings, with whichever device they find to be the most convenient, the integration of virtual reality technology is being predicted to take that further, and 2024 could be the year that this happens.

Software providers are understood to have been working on ways to incorporate this into future slots that they create, and this promises to provide a highly exciting and absorbing experience for enthusiasts.

It also provides an opportunity for new casino sites and brands to potentially differentiate themselves from the big companies if they can become the first to offer this currently unique experience to players.

Emphasis on Personalisation Utilising AI

Over the last 10 years, casino brands have been focused with increasing intensity on data analytics, particularly from the perspective of being able to offer a more tailored experience to individual players.

Most big brands have their own specialist BI (Business Intelligence) department that attempts to track customer behavior on their site. As AI (Artificial Intelligence) has developed further, algorithms have been able to track, with increasing frequency a player’s user journey.

As this year progresses, it is understood that this will come more into the fore and, as a result, those brands that have the best algorithms in place will be able to create a highly individual offering for gamblers.

It means that they will be able to collect and analyze the data of what certain players do on their site, the slots and casino games they play, how much they wager, and how long they spend on average on their site, to then accurately provide them with the best offers and promotions.

Widespread Implementation of Gamification

The prospect of casino gamification has caused exciting ripples in the industry as gambling sites prepare to implement this in the near future. While there is certainly a huge demand for slot games, the industry is putting the wheels in place to take this further.

It will see casino sites facilitate leaderboards for slots, which means that players can track the progress of everyone who is playing the slot and see how they rank in terms of winnings. This provides a considerable amount of potential for casino sites, as many players are competitive by nature, and should they see that it is possible for a slot to pay out big amounts, the likelihood is that they will be spurned on to keep wagering.

In addition, it will also allow players to communicate with each other, making the experience more social.

Increased Availability of Cryptocurrency

More and more casino sites are coming around to the fact that cryptocurrency has become more widespread, and this year could well see more digital currency formats offered to customers as a wagering tool.

It would mean that players would need to deposit via their digital wallet, which in itself provides a much safer way of wagering, also utilizing blockchain technology.

While there is currently a small handful of specialist, standalone sites for cryptocurrency gambling, these have yet to become widespread, offering an opportunity for established brands to incorporate more cryptocurrencies that players can use to wager.

Availability of Cryptocurrency in gambling

Tighter Adherence to Responsible Gambling

Some of the more established gambling markets, such as the UK, have already witnessed a reform from a responsible gambling perspective, as governments aim to implement stricter measures surrounding what casinos can do.

In other markets, there is still evidence of increasing gambling addiction, and it is predicted that more initiatives will be initiated, such as tighter control over the KYC (Know Your Customer) policies that are in place.

There may also be wagering limits that casino sites are required to impose for those who are most at risk or lower-earning individuals. Newer markets, in particular, could well see themselves tasked with the challenge of monitoring problem gambling in a way that they haven’t yet faced.

Increased Automation at Land-Based Casinos

For those who prefer to visit land-based casinos, there may well be new initiatives implemented designed to improve efficiency while still offering the personal touch that players have come to like.

Essentially, when serious customers visit a land-based casino, their main priority is to be able to enjoy their desired game as quickly as possible. Due to advancements in technology, we could see some ways casinos can improve in the following months as such venues attempt to keep pace with the evolution of online casinos.

The Impact of Emerging Trends on the Gambling Industry

Over the years, when key changes have been introduced in the gambling industry, this has had many profound effects. The enhancement of smartphone technology essentially changed the way people gamble as devices became more sophisticated, allowing for endless possibilities, such as app development and payment integration for convenience.

There is a likelihood that some of the anticipated gaming trends for this year could have similar effects on an industry that is already one of the most lucrative and popular in the world.

Certainly, virtual reality and gamification could change the way customers think about the industry and, indeed, the amount of time they spend at online casinos in a way that even surpasses what the response was to the introduction of live casino products just over a decade ago.

The Global Landscape of Online Casino Evolution

While there is no correct answer to this, it is likely that those who have been ahead of the curve since the beginning, such as the UK, will be key drivers in terms of the anticipated online casino revolution.

Of course, the US gambling market is certainly one to watch - the pace at which it has grown over the last four years is staggering, and the commitment that has been applied to it indicates that the industry in the country is dedicated to becoming one of, if not, the biggest in the world.

It would not be a surprise if US-focused brands were the first to implement some of the above trends, especially considering the resources that they have available to them.

Brands in some key European markets may also have their say, especially in more tech-savvy countries, such as the Netherlands, which has certainly expressed concerns over responsible gambling over the last year.

Ultimately, one thing that is for sure is that change in the gambling industry is coming. The question is when and exactly what will be implemented.

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