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January 22, 2018

Tech Extends Online Gambling Industry's Hot Hand

Few industries are as impervious to market trends as gambling, but even the gambling industry is susceptible to market disruption driven by digital transformation today. According to a 2017 Transparency Market Research report, online gambling is anticipated to grow 10.8 percent year-over-year through 2024. But, is the industry bluffing and riding a hot hand until this trend dissipates? Or is online gambling the horse to bet on moving forward?

Based on the underlying, foundational technology on which this market is experiencing this hot streak, it’s hard to bet against online gambling at this point.

Cybersecurity elements

Security remains top of mind for everyone at the table, but emerging technologies provide the additional security gamblers are looking for to protect their identities and their money. Blockchain has been demonstrated to be a viable and secure method for transferring funds, while biometric technologies like voice and facial recognition prevent identity theft.

Unified Communications (News - Alert) (News - Alert) for better experience

Another way that online gambling has taken market share is by recreating the experience of sitting down at the poker table. Unified Communications solutions enable real-time streaming of voice, video and messaging, which helps players conveniently talk to each other.

Smartphone penetration

Five years ago, only 4.3 percent of all smartphone users had downloaded a sports or casino-related betting app. By last year, the proliferation of gambling apps and the proliferation of smartphones resulted in online gambling revenue hitting 20 percent of overall market share.

Clearly, the underlying technology that has supported the boom in online gambling is not going away any time soon. If anything, online gambling is likely to continue pulling in market share, as more and more players continue to ante up. Not only do emerging technologies enable for a casino-style experience from the convenience of home, but there’s a distinct opportunity for added value usually reserved for high-rollers and VIPs.

Case in point: Using a promocode for bet365 will give fans of online gambling even more buying power the next time they look to place a bet. These types of offers are made possible due to the direct channels of communication made possible by emerging technologies that support the industry. 

Better gaming experiences, more convenience and an added layer of security to boot? Today’s gamers have good reason to up the ante when it comes to online gambling. 

Edited by Erik Linask
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