I’m old school, me. I began the internet when all I had was a 28.8k modem and to load a website with a lot of pictures then I had to wait at least five minutes. Hell, songs would take at least an hour to download, and that was only if I had a super-fast connection with a p2p service. Super-fast being 3 kbps.
That feels so slow now. This connection I’m on now is 300Mbps. Times have changed, and so has technology surrounding the online gambling industry. In this article we will take a look into the amazing, and fast paced growth of internet gaming.
The Rapid Growth Of Online Gaming
The first online casino was introduced in 1996, called InterCasino. Just to prove how fast things progressed, by 1997 there where over 200 established online casinos. Just a year later in 1998, a published report revealed revenues in online gambling had reached 834 million dollars. Poker rooms where soon to follow with the first multi player games being launched in 1999.
A Personal Note..
The furthest back I can remember gambling was when my friend came around to have a go on my desktop PC. We used to select our favourite horses and do a bit of speculation. It wasn’t much, nothing over the top. Only $20 here and there.
Yeah, those were fun times. I guess it was also exciting for us because being able to make a bet from the comfort of our own homes was relatively new. We had to go into betting shops beforehand and that would mean travelling across half of the town just to find out that it was closed, or had some other issue. Gambling at home was safe, convenient, and discreet. It likely also kept us from getting into mischief.
Mobile Casinos – Gambling From The Convenience Of Anywhere
Of course, as smartphones got smarter, and technology became better, the online casino industry was one of the first to capitalize on this near era and made huge technological advancements. Mobile friendly casinos quickly became the standard, and apps moved with the flow and followed suit. Today we have smart devices that are integrated into nearly every part of our daily lives. It’s quite amazing.
As the rise of the mobile phone took the world by storm, we saw other casino establishments developing apps to integrate with the mobile user, which now, as it stands, there are more mobile users online than desktop users. People like my friend no longer need to use my house as a safe haven for gambling, he could do it anywhere he wants providing his mobile phone has access to the internet. Gambling from the convenience of anywhere, at the time this was a very forward thinking concept. Then again, online casinos have always led the way in terms of technology.
Virtual Reality – The Future of Online Gaming Is Here
As humans we are always seeking advancement, its just in our nature. This brings us to the latest in online gaming, and that’s virtual reality casinos. As it stands, there are currently just a handful of online casinos that offer virtual reality gaming. VR offers an immersive experience combining colourful graphics and cutting edge tech, getting you even closer to a live casino experience right from your own home.
Admittedly I have yet to try VR, but from what I hear it takes gaming to an entire new level. As we saw with the explosive growth in mobile gaming, I am sure if the VR experience is as good as they say, we will this rapidly rolled out across many more online casinos very soon.
And now, now there’s a new dawn on the horizon where all things finance could be pulled even further into the realm of pioneering technological revolutions.
Bitcoin – A New Payment Medium For Online Casinos
Over the past few years more and more online casinos have started accepted Bitcoin as a method of deposit and withdrawal. In fact, the majority of online casinos now accept Bitcoin as a preferred method of deposit, with many casinos offering bonuses and discounts just for using it. There are several reasons why an online casino, would prefer Bitcoin to traditional finance options.
First, all deposits are final. This cuts down on the fraud many online casinos experience due to losing players submitting illegitimate chargebacks with their banks. This is a huge plus for any business, but the benefits to players are even grater.
Bitcoin offers a discreet and private way of depositing at an online casino. All bitcoin addresses are pseudo anonymous, meaning they are not tied to your name or any identifying information. This means you’ll be able to deposit and cash-out without needing to submit any of your banking details to the online casino.
Next, Bitcoin is fast! When compared to a bank wire, check, or even some eWallets, bitcoin is considered instant, taking minutes at the most to receive winnings back to your wallet once sent from the casino.
Lastly, Bitcoin is open; meaning anyone can create a bitcoin account from any country in the world without restriction. You don’t need to submit any information, or get approval from anyone. Bitcoin is available and free for anyone to use in the world.
The Future Is Near
As we can see online gambling has come a long way in a relatively short amount of time, as this industry is showing now sign of slowing down in terms of technological advancements. In fact, with the advent of Virtual Reality the gaming experience is only likely to explode to levels we have never seen, only to drive further growth and interest. Along with offering a live casino experience, Bitcoin is setting the stage to offer a seamless financial experience getting winnings in the hands of players almost instantly.
It is projected that the online gambling market will nearly double in size from 2020 to 2024, to more then 114 billion USD. With the current advancements listed above, I am not surprised. And if history is any indication of what the future may hold, things are likely to advance rapidly.