The modern world is a world full of technology, there is no denying that. Businesses now rely on it to keep them turning, and disaster often strikes when that crutch is taken away. In a world that is becoming increasingly more digital, businesses are encouraged to keep up with and implement the latest technological advancements so they can increase both profits and efficiency. This evolution can be seen in many industries globally, but it is especially prevalent in the gambling industry. In recent years, the industry has seen exponential growth – the reason that can be best attributed to this is developing technology.
Much like how the car revolutionised transport, the creation of the internet changed the way the gambling industry operated. It offered up new avenues of attracting and engaging customers given the massive reach the world wide web has. Casinos used to rely on traditional forms of advertising like billboards and commercials, but the reach of these methods are limited. The onus was still on the customer to walk into the casino themselves. With the internet, more attractive adverts can be created but most crucially, the actual act of participating in casino games is much easier as all it takes is the click of a link.
Smartphones were also a crucial turning point in the history of the gambling industry. The key thing that they offered to it was infinitely increase convenience. The gambler no longer had to get in their car and get themselves to their casino. Instead, they could make a coffee, sit on the sofa, and load up their desired app and begin to play. There is no doubt that this had a massive impact on the industry; it had the effect of increasing the player base of casinos and generating higher revenues. The fact that land-based casinos are on the decline shows that the industry has placed its stakes on online gambling and emphasises how much technology has impacted the gambling industry.
The number of technological advancements the gambling industry has utilised is plentiful. Safe payment options, such as the ones that are offered at the best casinos, are one type of new feature that is becoming commonplace. These have the benefit of increasing consumer trust with companies and allow those that offer it to build a good reputation in the business. Security should always be an important factor for everyone, a notion that is mirrored by the companies that are investing in features that promote it.
In 2019, remote gambling was the largest combined sector by GGY (gross gaming yield). From this, it is easy to see that the gambling industry is on the rise and will continue to be for some time. The industry is directly linked to technological advancement and as one evolves, so will the other.