Future Forecast. Opportunities That Online Casinos Offer in 2023

by Staff

Future Forecast. Opportunities That Online Casinos Offer in 2023

If you start digging into the history of online gambling, you’ll notice that the industry is almost 30 years old at this point! During this time, many new trends have blessed us. At the same time, many trends have lost their way into darkness. It’s normal for an online casino to change its offers and features from time to time to keep things relevant. In addition, you can expect new trends as technology grows faster, such as casino online live dealer every year!

The global online gambling market is expected to reach $127.3 billion by 2023. This growth is being driven by the increasing popularity of online casinos, which offer a convenient and exciting alternative to traditional brick-and-mortar casinos. On this page, we plan to predict the upcoming opportunities in the iGaming industry for 2023. Not only that, but we’re also going to justify our predictions with facts. Without any further ado, let’s get right into the trends.

The Rise of Cryptocurrencies

This is the most obvious prediction of casino trends simply because cryptocurrencies are already showing intense potential. Many mainstream gambling sites in the UK now accept tokens like BTC, LTC, XRP, USDT, DOGE, and whatnot.

For the time being, the majority of the crypto operations are happening around the payment paradigm. As a result, we’ve been getting a lot of “provably fair” games. We strongly believe that these games will rise in number in 2023.

If you’re not familiar with provably fair games, they’re very similar to RNG games except for how they hash the game outcomes. Instead of using the RNG to randomise the results, provably fair games work in the following manner:

  1. It collects seeds from your server as well as from the game server.
  2. The two seeds are then “hashed” on a blockchain to generate unexpected results.
  3. The results are executed on the blockchain, so there’s no room for fraudulent transactions.
  4. The results are then recorded on the blockchain so that you can access the transactions and “prove” the game’s fairness. All the best payout online casino brands follow the same approach.

Currently, many real money online casino brands have a section for provably fair games instead of an entire library of them. It’s simply because the games are not the norm yet. But 2023 could finally be when provably fair games rise in popularity.

At the same time, the payment paradigm will improve at the best online casino platforms. Cryptocurrencies are already known as the best cross-border payment methods. As long as you have a crypto wallet connected to an exchange, you can buy, sell, and trade tokens within minutes, no matter where you live. You can benefit from the same features when you finally play at a crypto casino. The greatest of all is the potential to withdraw instantly, even with a no deposit bonus!

Let’s take a quick look at the best cryptocurrency tokens you can use in 2023, the best crypto exchanges, and the best wallet. If you’re unaware, you can buy crypto tokens for real money from crypto exchanges and store them in your wallet!

Best tokensBest crypto exchangesBest crypto wallets
Bitcoin (BTC)CoinbaseBitLox
Litecoin (LTC)BinanceCoinbase Wallet
Ethereum (ETH)Gate.ioTrezor Hardware Wallet
Ripple (XRP)KrakenBinance
Dogecoin (DOGE)GeminiMetamask
Tether (USDT)Crypto.comHuobi

Did Anyone Say Metaverse Casino?

Metaverse is yet another “mystery” that’s been hanging over our heads for quite some time now. But if you think about it, the metaverse concept is not nearly as complex as we make it to be. In simple words, the metaverse is an interconnected and interoperable blockchain network where you can participate in every activity you can think of in the real world. Initially, virtual reality (VR) and augmented reality (AR) were believed to be the tools for entry into the metaverse.

These tools will also improve over time to make access more seamless. When you put on a VR headset and enter a metaverse casino, you may notice a traditional casino atmosphere with slot machines and table games. Some operators may come up with even more intriguing themes for their platforms.

Instead of looking at the screen and pressing buttons, you’ll be within the game and press the buttons through your avatar. Your avatar is you in the metaverse, and everything you do in real life will be captured by our avatar inside.

“Interoperability” is perhaps the unique aspect of the metaverse. It means everything is connected, although they might not always be in the same network. For example, you play Valorant, and you trade the in-game items in CS: GO. Or vice versa.

One of the main goals behind the whole crypto debacle has been decentralisation. It’s the next big step for humankind after globalisation. We’re virtually connected to everyone and everything right now. Decentralisation will only add to this paradigm and make it even more interesting.

Decentralisation releases an industry from the tyranny of single authorities. Well, “tyranny” may be too strong of a word, but you get the idea. A blockchain allows the users themselves to take care of the operations, which eliminates any single point of failure.

When the online gambling industry too will start to use metaverse widely, we’re going to see a massive shift in gambling behaviour. More players will be interested in trying table games because they can feel the thrill of an actual casino floor.

Here are the main benefits of a metaverse casino you can enjoy in 2023 UK.

  • 100% transparency for all players
  • Relatively lower fees when compared to traditional payment methods
  • Instant withdrawals
  • Closest to a real casino atmosphere you can get
  • Online privacy ensured

Friendlier Gambling Laws

For the most part, “gambling” as an activity comes with a social stigma. It’s been like this since the beginning of the human race. However, governments around the world are making the laws more user-friendly. The reason behind this ultimately comes down to the opportunity for tax revenue!

If you’re unaware, online gambling sites must obtain a licence from the appropriate authority before accepting players from a particular country. In the UK, the authority would be the UK Gambling Commission.

The operators must pay a hefty fee to obtain a licence and to renew it. This money goes directly to the government. For players, the UK government is still generous enough to let the gambling winnings slide with 0% tax.

Below are the gambling components the UK government allows in 2022:

  • Sports betting
  • Casino Games
  • Poker
  • Bingo halls
  • Gaming machines

However, in countries where players, too, have to pay their due diligence, gambling laws are becoming even friendlier. Take the USA, for example. Online casino games are yet to be normalised all over the country. But every year, a multitude of bills are getting passed by various states, updating their take on online gambling. The dollar deposit casinos also impose upwards of 30% tax on their winnings. At that rate, the best online casino brands end up paying a lot of money to the government in taxes alone!

In 2023, we believe plenty of people worldwide will be able to access the online gambling industry. The world is starting to realise the potential of the iGaming ecosystem. The social stigma also seems to be lifted by a fair margin.

On top of everything, the collaboration between iGaming and crypto makes online gambling even more lucrative for next-gen gamblers. Overall, we can expect a lot more licences and gambling legalisation bills in 2023.

Variety of Existing Games

Variety has always been a massive plus for the best online casino. A land-based casino cannot house as many games as an online casino. Take online slots, for example. These are virtual adaptations of physical slot machines. Thanks to the nature of the game type, the possibility of themes is endless.

You’ll witness the biggest meetup of free slot games from around the world. Pretty much every game you can think of is present in that game library! It also houses the best mobile slots for you, including:

  • Double Diamond
  • Texas Tea
  • Quick Hit
  • Always Hot
  • China Shores

While the online version of casino games has indeed made playing more convenient, it somewhat stripped us from the joy of pulling a lever and hearing its sound. If you’re using a no deposit bonus to play the games, you’re essentially using free spins! In that case, the enjoyment goes through the roof!

In 2023, however, metaverse casinos can change this. If you’re using a VR headset to access an online casino, you can at least mimic the motion of pulling a slot lever. And if the platform is optimised enough, you can hear the sound too.

The same goes for table games. We can enjoy all the functions through the buttons on our screen, but it’s not the same as throwing your dice on the table. Or, picking up chips and putting them on your preferred Roulette bet. These issues could be alleviated by late 2023, considering the integration of cryptocurrencies and metaverse keeps happening, like in 2022.

Smartwatches May Also Allow Games!

As unlikely as it may sound, we don’t see any reason why it won’t work. Smartwatches these days are just as capable as smartphones. You can already receive phone calls, check the internet, and even track your health status using smartwatches. So, why not gamble on them too?

Currently, a few casino operators are trying to integrate their platforms with smartwatch operating systems. It’s not a mainstream offering by no means yet. But as time goes by, we can expect more support.

One of the most significant constraints, however, of smartphone gambling is the screen size. For most games, the screen is too small for players to enjoy them. You can use them to claim a casino bonus, like a no deposit bonus, perhaps. But it most likely wouldn’t suffice for gaming.

A better alternative for smartwatches would be to follow your bets instead of using them directly to play the games. It’s more suitable for sports betting than casino gambling, for now.

Final Words

The great thing about any industry online is that it’s constantly changing. Think about how the internet was ten years ago. The iGaming industry is also going through the same changes and updates as the rest of the world. So, it’s safe to assume that whatever technology paradigm will be popular in 2023, the best online casino operators will follow it. The idea has always been to keep the gaming experience fresh and relevant.

If we have to vote for what is going to be the biggest opportunity for real money casino gamers in 2023, we have to put our money on metaverse gambling. It should be quite a journey to embark on.

 

About the Author/s

The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.

Related Articles

Leave a Comment

SIGN UPFOR OUR NEWSLETTER

Stay up to date with all things Digest