With so many eye-catching headlines online about how fast the digital casino industry is growing and how analysts predict it will continue to grow throughout this decade⎯irrespective of broader economic issues⎯many people are intrigued as to what drives this seemingly never-ending profit for these colossal companies.
Online casinos simply wouldn’t have had the success they have had over the last couple of decades if they hadn’t combined their successful business models with the incredible rise in technological advancements over the same period.
Physical casinos have existed for hundreds of years, and as online casinos started to develop platforms that provided the same service, more customers began to flock to them. These companies brought much higher levels of convenience. In addition, the technology, computer coding, and algorithms used resulted in online casinos accelerating in popularity.
When they combine all of these incredible developments, casino companies can pay out on table games faster and bring more vibrant graphics to these games. They’re just a couple of examples of key driving factors in opening the door for a multi-billion-dollar industry to emerge. Today, we will closely examine this technology and see how it continues to support this highly affluent sector.
Mobile Casino Gaming
Ever since the rise of smartphones, gaming companies have battled for dominance to create gaming titles that utilize the incredible possibilities afforded by this technology. Although online casinos started to gain traction in the early 2000s, and gamblers started to choose online casinos over physical ones, the rise of mobile phone sophistication caused this to accelerate.
Following the release of the first iPhone and the first app store, there was a platform where prospective game developers could create their games. Naturally, this stimulated innovation, and mobile casino companies used this to their advantage.
Employing the best app and game designers to create casino games that were immersive and innovative resulted in the further expansion of the games that we see on so many online casino websites today. The best example is slot machine gaming, which uses the best graphics, color designs, and computer coding to bring a seamless experience for gamblers worldwide.
Computer Programming & Coding
As computers became more accessible and cheaper to own, the computer literacy rates of the general population soared. This led to more competition in industries such as computer programming, which has benefited online casinos immensely.
The most prominent example is the increased speed of payouts and how payouts are calculated in specific table games.
For example, a roulette game in a land-based casino would result in the croupier calculating the bets and payouts manually. During a busy session, this could be over a dozen bets, and it could take a few minutes to calculate this correctly.
However, thanks to the rise of sophistication in computing, all of these betting odds are instantly calculated during the wheel spin and payout. Ultimately, this means that online casino providers can provide a facility to offer customers more spins in the same period. In the long run, this invariably means more profit for these enormous organizations, as the house always wins.
Payment Security
Whenever you are choosing an online casino, arguably the most important factor to consider is whether the digital casino provider allows you to have a facility whereby you can withdraw your funds quickly. In addition, you want to know that the provider is reputable and trustworthy and that they are storing your sensitive personal and financial information as securely as possible.
When the Internet first rose to prominence, there were plenty of concerns about the security of this sensitive data. This is still a concern, and rightly so. Many companies have been subjected to large hacks that have jeopardized the security of customer details.
Online casinos needed to level up in this area to make the same colossal profits as their land-based adversaries. Even though they saw a spike in activity in the early 21st Century, the main lingering question for many of these companies was how they would keep secure financial data safe.
Many casinos now use the same level of secure encryption as many online banks do to protect their customer data. Millions of dollars are at stake as it is stored on encrypted servers and is imperative to running a successful casino. For some more prominent operators, it could spell the end of their billion-dollar operation if somebody gained illicit access to this highly sensitive data.
Therefore, the strength of this security technology is right at the front of many digital casino business models, and this technology continues to be updated to stay one step ahead of the shady fraudsters who would cause serious harm to the customer and the casino if they got their hands on this information.
With the technology of people’s search sites also increasing, casino companies must stay ahead of the curve regarding keeping the identity of their customers secure.
Conclusion
Who knows what the future holds for such a thriving industry? Many analysts believe that the unstoppable march will continue until at least the end of this decade. Who knows what new technology will have entered the equation by that stage?
Maybe everyone will gamble by wandering around a virtual casino with VR headsets on. Perhaps AI technology will rule the roost, and your customer service agent will be a sophisticated AI chatbot. But, on the other hand, a croupier may not even be necessary a decade from now if AI and virtual technology accelerate in sophistication.
One thing that is a guarantee is that whatever technology most benefits casino gaming, the big hitters in the industry will be implementing it as quickly as possible. Due to the 24/7 nature of the Internet and casino gaming, even being a bit slow on the uptake of innovative technology can be the difference between making millions of dollars and staying still in an industry that moves at a breakneck pace.
Technology companies are constantly searching for new ways to bring more convenience to the online casino sector. They know that it could be an enormous payday for their business if they can help these companies.