How has iGaming companies’ use of new technologies helped grow their business?

iGaming companies are now incorporating innovations such as AI and blockchain to provide unparalleled gaming experiences with more options than ever before. These technological advancements allow companies to reach a far broader audience around the globe while ensuring security, fairness and engaging games for players.

But how are companies making the most of the latest tech to help their iGaming business grow in a crowded marketplace?

The mobile revolution

The iGaming sector has rightfully switched its focus to mobile-first games due to the phenomenal rise in popularity of mobile phones globally. With 2.8 billion people now playing all over the world, players demand that their favourite games be available and accessible at all times.

Before this tech revolution, players were confined to playing while tethered to desktop PCs or consoles. This shift to mobile has opened new markets, allowing iGaming operators to reach more customers than ever before.

Mobile platforms like those recommended on the highly trusted newcasinos.com, a recognised leader in the industry, have made the most of these exciting new opportunities by providing interfaces and experiences designed with mobile users in mind. These allow players to enjoy the speed and simplicity of gaming on a mobile device while retaining the all-important engagement and enjoyment of traditional gaming.

Mobile gaming has provided operators with a new revenue stream, with in-game purchases and microtransactions becoming the norm.

Artificial intelligence

AI is quickly becoming an indispensable tool in the iGaming industry. It provides the means to deliver more personalised experiences for gamers while streamlining operations behind the scenes and enhancing fraud detection, which is a serious concern for many gamers today.

AI can analyse vast amounts of data to cater to individual players based on their preferences and past activity. This personalisation can make each gaming session feel unique. When players feel they have sessions tailored entirely for them, they’re more likely to pick up their phone and keep gaming repeatedly. Research has also found that 80% of customers rated personalised offers and bets as ‘valuable’ or ‘very valuable’, and 75% found non-personalised apps challenging to navigate.

Preventative measures are now more important than ever since, in 2022.

While AI can customise the experience based on gamers’ past behaviour, it can also predict what they will do in the future. This approach can allow companies to provide targeted promotions and marketing campaigns to entice them to return, or go one step further and adjust gameplay features to ensure return business.

AI also lets businesses offer round-the-clock customer support. Chatbots can respond to inquiries and troubleshoot issues around the clock in real-time, no matter where the player is.

With many iGaming platforms involving financial transactions, security has never been a higher priority for players. AI is making huge strides in this field, with systems now able to track and analyse player behaviour and recognise anomalies that can flag potential fraud issues early on. Providing a safe and secure platform for players is crucial to iGaming success in the modern world. Preventative measures are now more important than ever since, in 2022, fraud in the online gaming and betting sector rose over 50% in only the first quarter of the year, and it has only continued to rise since then, increasing by 2.9%.

Blockchain technology and transparency

Blockchain is best known as the tech behind cryptocurrency, but the iGaming industry proves it is useful for much more.

Blockchain is a decentralised technology which, along with its fixed nature, ensures every transaction is transparent and tamper-resistant. These qualities make it a must-have for gaming operators looking to build confidence with players.

For players, transparency in game outcomes is a significant concern to ensure things are fair and they have a reasonable chance of winning through systems that audit and demonstrate games as provably fair; players can verify gameplay results in real time when operators use blockchain in their games. This eliminates any questions about potential unfairness, which is crucial for the games of chance that are popular with so many gamers.

Blockchain has already been adopted in the crypto world to manage financial transactions, which the igaming industry can replicate. Cryptocurrencies such as Bitcoin and Ethereum are already integrated into many iGaming platforms, giving players greater options for making transactions while offering speed and greater privacy for players. Crypto boasts lower transaction fees than some traditional providers, ensuring iGaming companies keep more revenue when used.

Companies operating in highly regulated markets can use blockchain as an effective technology to help them improve compliance. With blockchain providing a full, tamper-free record of every transaction, the platform can easily show regulators that it complies with all legislation and avoids costly penalties such as fines.

Virtual and augmented reality

Virtual reality and augmented reality might be the most exciting ways that the iGaming industry will change forever, and players looking for ever-more immersive games will benefit.

VR immerses players in a fully digital world, while AR differs in that it overlays digital elements into a player’s real world, creating a hybrid environment.

VR casinos are one example that allows players to interact with their surroundings and other players meaningfully in a fully immersive environment.

Playing a game is no longer merely by tapping on a screen; instead, players can walk the casino floors, interact with live dealers, and enjoy the atmosphere all from the comfort of their homes. This immersion helps create much more excitement for the player, leading to longer and more engaged gameplay that traditional gaming cannot compete with.

AR, however, places virtual objects into players’ real environments, allowing gaming operators to project objects such as casino table games onto a player’s coffee table. As players interact with the game using their phone or tablet, they can visualise the casino elements right before them, increasing their engagement.

The integration of VR and AR attracts new players and drives loyalty as increased enjoyment keeps players returning time and time for more gaming sessions. These innovations will likely become more prevalent as technology improves and will likely drive the iGaming sector over the coming years.

Cloud gaming and scalability

Gaming operators can cost-effectively scale their operations using cloud computing. Cloud technology allows players to stream games directly from remote servers rather than downloading them to their devices, which has opened new opportunities for developers.

Gamers can have high-quality experiences without owning the latest, high-end hardware, opening the door for more players than ever before. Games using high-end graphics can be played on older or less advanced devices, as they don’t require downloads, freeing up valuable storage space on a phone, tablet or laptop.

From a business point of view, cloud gaming means less need for major infrastructure investment, which means operators have more choice on where to use their resources. iGaming companies can focus their revenue on game development and marketing, creating more titles to attract players.

Cloud technology also provides the basis for scalability for gaming operators, as these platforms can handle more players playing simultaneously without investing in hardware upgrades. This scalability can help operators respond in real time to demands as server capacity can be increased during peak times, providing more flexibility.

Compliance and security

With growth in the iGaming sector comes the responsibility to ensure robust security and compliance with regulators. Encryption, biometric authentication and ID verification tools are all used in the industry to keep both players and operators safe.

Financial transactions between players and operators are the most apparent way that security protocols must be robust to avoid sensitive data falling into the wrong hands. Biometric authentication is becoming far more common – nearly 50% of consumers already use it often to access mobile apps, with players using fingerprint scanning or facial recognition technology to verify their identity.

Complying with regulator demands is also crucial for operators in terms of growth. Compliance is one area where no iGaming operator can allow standards to slip, as hefty fines and other penalties, sometimes even losing their license to operate, can have companies writing off growth forecasts entirely. Ensuring adherence to all rules is good for business.

What does it all mean?

Incorporating all of this technology means that gaming operators looking for growth must take advantage of everything they can to stay ahead in a crowded and competitive market.

For those playing the games, virtual reality and AI are exciting contenders for the launch of the next wave of growth in the iGaming sector, just as the prevalence of mobile technology sparked the last. Behind the scenes, however, operators will also need to use technologies not seen by players, such as blockchain, cloud gaming and advanced data analytics, to ensure they remain competitive and viable for years to come.