The Next Frontier For The Entertainment Industry as VR and Other Technologies Advance

There haven’t been that many industries to adapt that much to new technologies as the entertainment sector. We’re not just talking Hollywood – we mean the whole entertainment industry, including gaming. Video games and online casinos have dramatically improved over the years, offering immersive entertainment to the likes we’ve never seen.

Which is for the best, of course. Who wouldn’t love seeing remastered versions of vintage classics? Many old-school movies have gotten remasters in the past few years, and they’re even better than before. There’s something in noticing bits and pieces in 4K that makes classics as thrilling as the first time you watched them.

And it’s not just movies that have evolved. Played any video games lately? Put a good pair of headphones on your head and delve deep into the adventures of soldiers on the battlefield for a truly immersive experience. No one likes experiencing war, of course, but virtually, those Call of Duty games are as real a battlefield as it gets.

You can do anything virtually these days, from playing football to enjoying poker. You can play free blackjack for fun or make a deposit and play for real money returns. Online casinos are here to stay, offering a more immersive Vegas experience than ever. The first step toward that were live dealer games, but it’ll get even better as technologies such as VR progress. Together with new technologies in the pipeline like streaming and NFTs, we’re just a few inches away from a completely virtual entertainment industry.

Online Gambling Evolution

No one really believed that online casinos would ever replace Vegas joints in a million years. Vegas was and still is a juggernaut, raking in billions of dollars in revenue each year. But you know what industry is better than it now? Online gambling. Yes, that industry no one believed in a few decades ago is now stealing all the limelight from its older brother.

Why? Well, the answer is simple. These are times of change and evolution, and the land-based gambling industry simply can’t keep up with online casinos. The latter are constantly shifting their focus and evolving in the best way possible alongside new and existing technologies. Take VR, for example, which is touted as the future. Virtual reality casinos are already here, and although low in numbers, they’ve impressed players already. Everyone enjoyed the possibility to play from their home or on their phones, but now, people would like to enjoy a VR casino experience from home, and they will be able to do it soon.

Those who never managed to get to Vegas or are simply stymied by the social stigma that surrounds gambling can now enjoy an immersive experience from their phone. With VR goggles on, of course. And that’s just one notable technology that will improve the way we interact with entertainment in the future. AR will be a big part of it too, and other emerging technologies will follow.

They will all combine to offer the most immersive experience ever, so you won’t have to ever leave your home to play casino games or anything else.

What is VR?

For those unaware of new technologies, VR stands short for virtual reality. It’s all those goggles that movie characters wore in sci-fi flicks decades ago, allowing them to enter a virtual reality where anything is possible. While the technology didn’t evolve that far, we’re on the verge of a Metaverse that can make it possible in a form.

Before the Metaverse arrives, though, we’ll get the chance to test VR in casino environments. It’s the next step of evolution in the iGaming industry. Players were first allowed to play from home, then they could play on the go, and now they can enjoy a completely unique atmosphere of a real casino thanks to virtual reality.

How will it work? Well, probably bundled with AR. That’s short for augmented reality. You may have noticed this technology on your phone already. You just point the camera at an object or item, and it gives you specifics such as the size, price, or anything else. This technology will be a true gamechanger as well. It’ll help you interact with various items in virtual reality. With it, you’ll be able to check limits on a table or potential hot/cold numbers and other stuff that will help you make better decisions.

Are VR Casinos Already Live?

Yes and no. What players need to understand is that it’s still a new technology and should be perfected before it’s released into the ‘wild’. That said, there have been a few casinos experimenting with VR and AR. They’re far from finished products, but they still let you play blackjack, poker, or slots in a virtual setting. Of course, you need your own VR equipment, and that currently presents a challenge.

The price point is simply too expensive for players, and you can’t expect casinos to provide it. At the moment, proper VR goggles cost hundreds of dollars, and there’s a lack of options too. The good news is that once it gets a bit cheaper and the VR market is more competitive, we can expect an influx of VR/AR casinos.

It’ll be a gamechanger that will reshape the industry for years to come. Not on its own, of course. There are many other technologies that will make it easier than ever to play in a virtual setting, including the blockchain.

Blockchain – An Exciting Piece of Tech

Blockchain

Together with VR and AR, the blockchain is a technology that should propel the iGaming industry forward. You’ve probably heard about it in relation to cryptocurrencies such as Bitcoin. Without the blockchain, Bitcoin wouldn’t exist. It’s the glue that keeps it all together, allowing you to trade cryptocurrencies in online casinos and elsewhere.

Blockchain is not a new concept in the iGaming industry. There’s already a great number of casinos that accept cryptos for payments. More importantly, many casinos are even more excited about the blockchain, which can reshape iGaming as we know it.

A decentralized system that can be described as a public ledger for crypto transactions, the blockchain isn’t governed by any financial organization. The lack of third parties involved in crypto transactions ensures faster and anonymous transactions. These two aspects of the blockchain are key to its increasing adoption in online casinos. It’s already reshaping the gaming industry as we know it, allowing for greater security, enhancing the value of intangible assets, and giving you an opportunity to bet anonymously.

It’s the bright new technology that will usher online gambling into a new era. Cryptocurrencies will forever reshape the way we pay in online casinos. Depositing Bitcoin or Ethereum into your account is instant, and so are withdrawals. Plus, cryptocurrencies are secure and private, and that’s precisely what many players are looking for.

Why Is Crypto Gambling So Popular?

Crypto gambling is taking over the industry like a storm, and there are plenty of reasons for it. Take a look and see why players love playing slots and table games with crypto lately.

Fast Payments

E-wallets were once touted as the fastest deposit/withdrawal option in online casinos. They’ve been largely replaced by cryptos such as Bitcoin. Since there’s no governing body interfering with the way cryptos are processed, the only obstacle may be the casino itself. Most casinos have a pending period of 24-48 hours to release winnings, and some do without it. Once the pending period passes, you’ll get your money via the blockchain right away. This is much faster than bank transfers, which can take days, or even e-wallets.

Plus, the fees are negligible, which is a far cry from what some payment options charge.

Great Investment Opportunities

One of crypto’s main advantages and disadvantages is its volatility. Cryptos such as Bitcoin can have their price up or down in a matter of minutes, which is a great investment opportunity if it goes up. Imagine buying it on the cheap and playing with Bitcoin when it goes up. You’ll be making a huge profit compared to other investments such as gold and play more casino games than you set out to.

Access to the Metaverse

The Metaverse is probably the most exciting technology project right now. Developed by Facebook (now known as Meta), it’ll be a virtual world akin to what all 1980s sci-fi movies promised years ago. Cryptocurrencies and the blockchain will be a huge part of it, and so will gambling as part of the entertainment program.

Access to the Metaverse

With fiat money inaccessible in the Metaverse, crypto gambling will thrive. Its popularity will trickle into the real world as well, so expect the number of crypto gaming sites to go up the moment the Metaverse goes live.

Decentralization

You’ve surely heard the term DeFi thrown around in relation to cryptos, but do you know what it means? It’s short for decentralized finance – the true nature of the blockchain. Decentralized finance means finance that’s not within the constraints of the traditional finance system. In short, cryptocurrencies are not governed by any bank or financial organization.

They are mined and governed by the users, ushering in a new era of finance. Due to the fact that you don’t need to answer to anyone, they offer anonymous transactions and promise faster transaction times.

Anonymous Gambling

As mentioned earlier, the anonymity cryptocurrencies offer in online casinos is one of their top features. Players are sometimes too afraid of the social stigma surrounding gambling and would rather play anonymously. Since you must share your financial details with any other payment method, bank transfers or e-wallets are not the best choice.

You don’t have to share anything with the blockchain, which is why Bitcoin and other cryptos are so popular in online casinos.

Mobile Gaming

Mobile gaming is not exactly news in the online casino space – it’s already here, and everyone loves it. However, we like to think that the future of gambling on the web will be even more mobile. How? Well, the blockchain will certainly be a big part of it, and new, safer payment methods will surely emerge. Betting on the go is way bigger than gambling from your PC right now, and we can envision a future that’s completely mobile-focused.

As operating systems evolve and mobile hardware, too, we’ll get faster smartphones with bigger screens optimized for casino games. Evolving Internet technologies such as 5G will make live dealer streams a breeze. They’ve already worked great so far, but with 5G and technologies beyond it, things will get even better.

Developers are working hard on creating new platforms for games that will benefit from faster speeds and new technologies. The whole hardware industry is directly linked to online gambling, allowing players to enjoy many fresh benefits. Faster Internet speeds will certainly be required for VR gambling in the future, and major companies are already working on it.

The key to everything is the Metaverse. While there’s no specific release date, it will completely reshape entertainment. The blockchain will be directly linked to it, probably resulting in several new cryptos. They will all make our lives easier in the virtual space. Many casinos have already announced their intention to join the Metaverse, so maybe it’s time to get a pair of VR goggles at a discount before prices go up.

What Does the Future Hold?

With VR, AR, blockchain, and further mobile focus in the mix, the future for online gambling is more than bright – it’s shining. We’re already getting a glimpse of what it could look like thanks to the blockchain and the few VR casinos. These exciting technologies, along with 5G speeds, will create an even more immersive experience than the one we get now. In a short time, players will be transported to a virtual space where they can play casino games like they’re in Vegas at a hand’s reach.

The constant push for innovation is already bearing fruit, and iGaming will soon move into a new bright era.


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Team Parle

The collective team of Parlé Magazine. Twitter: @parlemag

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