Upcoming Directions in the Online Gambling Sector: INTRAPAY
In a recently shared report at Sigma 2020, payment service provider IntraPay pinpointed four trends that are significantly reshaping the growth trajectory of the gaming industry. The company believes these trends will play a significant role in the coming years, with progress likely happening in the realms of new technologies, strategic partnerships, responsible gaming, and seamless deposits and withdrawals.
Technology: Virtual Reality and Artificial Intelligence
Virtual reality (VR) and artificial intelligence (AI) have been making remarkable strides over the last few years, showcasing their immense potential for change. With the advent of high-performance VR glasses like the HTC Vive or Oculus Rift, as well as the existing computing power for intelligent systems, exceptional customer experiences are within reach today. The report suggests that these technologies will be harnessed for developing an even more immersive gaming environment. For instance, PokerStars is experimenting with a live poker table where you can join online and use VR glasses to handle virtual poker chips through a controller.
Strategic Partnerships
The past year has seen several collaborations and partnerships between game developers, platform providers, and payment service providers emerging. One notable example is the collaboration between the British bookmaker William Hill and the American Eldorado Casinos. This partnership has given the American operator of 21 casinos across 11 US states an exclusive partner for sports betting and online casino business. IntraPay predicts that more such collaborations will lead to increased international market access and more options for players in the future.
Responsible Gaming
The public demand for gaming companies to better address problematic behaviors is visibly escalating. The hefty fines handed out by the UK Gambling Commission as of late are just one manifestation of this issue. However, some providers have been coming up with advanced strategies of late to counteract such behavior. William Hill, for example, has initiated a campaign to encourage responsible gaming by collecting data on players' gaming habits. According to IntraPay, we can expect more companies to adopt similar proactive approaches as they also look to gain a competitive edge while ensuring player safety.
Seamless Deposits and Withdrawals
Managing deposits and withdrawals is an integral part of both land-based casinos and online casinos. To mitigate the risk of fraud, numerous security measures must be implemented, which can sometimes make the user experience less smooth. To counter this, certain operators have started using innovative approaches. For example, Sky Betting and Gaming worked with Barclays to develop a fast payout process that allows winnings to be credited to a recipient's credit card within a short timespan. Meanwhile, Ladbrokes, in partnership with Playtech, created a system that manages credit balances across all Ladbrokes branches, websites, and sales partners.
Gambling and Online Gaming Joining Forces
As per the report, the worlds of gaming and the online gaming industry are increasingly converging. We're already witnessing joint appearances of these sectors at events such as Sigma in Malta and ICE in London. IntraPay projects that these industries will likely see their combined revenue reach up to 74 billion US dollars by 2030. The report's findings were presented by Jay Payne, Head of Product Marketing at IntraPay, at this year's Sigma.
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Source: www.onlinecasinosdeutschland.com
