Gambling industry in 2020: review and trends
VR and AI
Well, the overall tendency for usage of VR and AI is quite promising. Since Oculus Rift's release back in 2012, it seemed that the iGaming world is just one step away from a breakthrough. However, in 2020 we still don't have any good examples of successful VR establishments with online casino games.
Well, the capabilities of AI algorithms are incredible. In the nearest future, it will be possible to enable face recognition, fraud detection, and many other automatic systems, just within an online casino. Also, AIs can be used for collecting and analyzing all kinds of data. It means that the overall casino operation can be drastically improved.
Blockchain and Cryptocurrencies
With every new year, more and more gambling transactions are taking place in cryptocurrencies. According to open researches available on the Web, by the end of 2020, the combined value of all transactions processed in blockchain will exceed $150 million. The most popular cryptocurrencies are:
- Bitcoin. It was launched in 2009 as open-source software. Starting from November 2020, all PayPal users from the US can use bitcoin.
- Ethereum. It's the most used blockchain in the world, and it features smart contract functionality. Ethereum's market capitalization was around $43.9 billion on October 12, 2020.
Social and mobile games
Well, basically, social casino games work the same way as various applications available on social media. The whole point is that people install a mobile application and start playing various games of chance. The only difference is that the gameplay is diversified by various levels, achievements, and prizes. Often players sign up and receive free chips. Playing social casino apps is a fun experience, and in 2020 it's getting even more popular.
Live casino games are getting more popular. Almost all Soft2Bet brands have the live casino sections filled with special software. It allows users from all over the world to play various games of chance in a live mode. Basically, it's all about live streams broadcasted from brick-and-mortar establishments. These applications allow to play roulette, poker, blackjack, and many other games of chance with real dealers.
Mobile Gaming and Chatbots
Chatbots are getting more popular. Various companies use these tools to communicate with clients over the internet. It's possible by using various algorithms that mimic typical human behavior.
Well, when it comes to mobile gaming, all Soft2Bet brands can be launched on mobile devices. That's why it's quite possible to play games of chance on the go. And you don't have to install any applications because everything works just within a browser.
Legalization and regulation of the gambling business
Well, gambling is still prohibited in many countries all over the globe, but the overall tendencies are gradually changing. Many governments realize that it's better to provide a safe environment rather than completely block iGaming establishments' work. For instance, in 2020, the Ukrainian government started the legalization procedure of the gambling business.
In many countries, there are restrictions concerning responsible gaming. However, it only helps Soft2Bet be beyond the competition because our main mission is to provide the most safe and user-friendly iGaming environment for users worldwide.