In the past twenty-five years, online gambling has transformed from a niche hobby into a globally established pastime that is rapidly expanding. Per a report from ResearchAndMarkets, in 2021, this industry boasted a worldwide size of $72 billion. According to the same research, this sector is on course to start pulling in $112 billion per year by 2025, growing at an annual compound rate of 12%.
Naturally, despite public perception and legal regulation, one of this industry’s principal drivers is technological innovation. Even though for the first decade and a half of this sphere’s existence, it more or less seemed stuck in place. Due to the technological limitations of the day. In the past twelve years or so, consumer tech has reached a point where online casino concepts can dramatically morph in a matter of months as they get closer to something out of a sci-fi movie.
Today, playing traditional online casino games through a computer or smartphone screen appears like it may become a thing of the past relatively soon. That is happening predominantly due to the rise of augmented and virtual reality technologies, which are, so to speak, changing the game. Now, more and more talks about extended reality gambling experiences becoming the norm exist, as there is a global trend for prices of advanced consumer-grade electronics to grow to be more affordable than ever.
Extended Reality Technology Explained
In short, extended reality tech, or XR, is an umbrella term that combines technology that encompasses all real-and-virtual blended environments, plus human-machine interactions made possible via computer technology such as wearable devices. Technically, for the most part, it refers to augmented, virtual, and mixed reality tech, plus novel human-machine applied sciences that have yet to go mainstream or get invented.
Expert expectations are that this market was worth close to $26 billion in 2020. Yet, it is amidst a staggering growth phase, en route to reaching a size of $397 billion by 2026, as XR conceptualizations find their way into areas like entertainment, real estate, marketing, remote work, and particularly, on-the-job training. The latter branch of XR tech is of sizeable importance. It can help provide hyper-realistic training tools for people working in careers that involve life-threatening or life-saving situations, where split-second decisions and cool-headedness under fire can impact whether someone lives or dies. That particularly holds for training in healthcare, preparing military personnel for combat, supplying real-world simulations for pilots, and so on.
Hence, the application of AR/XR/MR tech to remote gambling is a no-brainer, as it is one step closer to bringing the authenticity of casino gaming to peoples’ homes.
Who Is Developing XR Online Casinos
XR Casino Inc is a software as a service company working on a cross-technology platform that will allow users to play extended reality casino games in a 3D environment through a headset device. Essentially, this is a multiplayer, blockchain-powered VR video game. The first batch of expected gaming options to get incorporated into XR Casino’s product include blackjack, slots, and roulette, with baccarat, poker, keno, bingo, and craps, getting penciled in to get added to the mix at a later date. The XR Casino app works pretty much like any indie desktop/mobile game on the market. Hence, interested parties must download and install it on their devices before setting up an avatar and starting to play. Its list of supported devices includes Magic Leap, HTC Vive, HoloLens 2, Oculus headsets, Nreal Glasses, and pretty much all modern smartphones.
BOTS is a tech conglomerate specializing in blockchain solutions, and it recently announced plans regarding launching a proprietary Metaverse based on North America’s most famous gambling destination Las Vegas. To help itself accomplish this lofty feat, BOTS made a strategic investment into XR Casino, becoming its first-ever corporate financier. Simon Rubin, BOTS’ CEO, claims that – “AR will lead the way in connecting people to the Metaverse, regardless of the devices they are using to link up.”
Metaverse Casinos Are XR Casinos
Metaverses are virtual shared spaces that implement VR technology and seem to be all the rage now. Decentraland is undoubtedly the most popular of these platforms, and it is home to several virtual gambling establishments that get run by both individuals and renowned companies. Notable examples of such venues in Decentraland include ICE POKER, Tominoya Casino, and Atari’s virtual gaming establishment. These “in-game” destinations allow metaverse users to play casino games and poker with cryptocurrency-tokens based on the ERC-20 standard. Participate in real betting fun. Thus, they are virtual buildings that facilitate crypto gambling. Some of them even offer unique gaming choices that are unavailable and brick-and-mortar locales or standard online casinos. Quirky games that may feature a skill element.
Meta, previously known as Facebook, is developing one of the biggest Metaverses that could be available in the future. Exactly how this world will look like, that’s not clear, but they are on a hiring spree of more than 10,000 VR specialists from around the world. They are actually stealing the best ones from other tech companies like Microsoft and Apple. Microsoft itself is focusing on the work aspect of the Metaverse, creating their gadgets and VR tech mainly for engineering industries and the military. All of these future advances will probably take the internet and humanity to the next level, which could be very cyberpunky.