Gambling has been around for as long as mankind itself: regardless of how far back we go, there is evidence that people gather all over the world to play a game of chance. Digital transformation has caused many disruptions to the gambling industry since then. Even so, some things haven’t changed: the thrill of the game, the anticipation of the outcome, and the joy of winning are still thrilling millions around the world. For a complete guide to online casinos, it’s worth taking a look at www.canadacasino.ca. Online casinos have taken the world by a storm. They keep growing in popularity and with the development of new technologies it seems that their popularity will only continue to grow.
In the gambling industry, there are a variety of technologies that are used to transform the players’ experience. In this article, we will highlight the effects of Blockchain and Beacon technologies on the industry.
Blockchain
In its simplest form, blockchain is an immutable ledger distributed globally that facilitates the process of tracking transactions. Virtual currency is the most common type of transaction, but anything of value can be included. Blockchain technology makes it very difficult to change any data once it has been stored, which makes it pretty difficult to tamper with them. Is there a connection between gambling and this?
Blockchain technology is emerging in many industries, including gambling. Cryptocurrencies are becoming increasingly popular among gaming service providers. Digital currencies are already being used by many online casinos, and some betting agencies have also begun accepting these currencies. There has been an increase in players and gambling service providers taking advantage of this emerging technology – but for a variety of reasons. To protect their identity and income sources, some players prefer crypto payments. Due to the non-reversible nature of the transactions, gambling service providers may adopt this technology, reducing the risk of fraud and nonpayment.
Blockchain technology has yet to gain widespread understanding, but there are a lot of possibilities for it to impact gambling companies’ business models.
Beacons
A beacon is a physical landmark that sends signals to mobile devices. Using Bluetooth technology, beacons can transmit data and notifications to smartphones within a certain radius.
Apple introduced the first commercially viable beacon. The iBeacons were installed in 254 retail stores in the US in December 2013. Google entered the market in 2015 with its type of beacon. Global Market Insights predicts that the beacon market will exceed $25 billion by 2024 thanks to advances in beacon technology since then.
There are endless applications for beacon technology, such as alerting users to approaching traffic at crosswalks, sending game-related notifications in stadiums, and even rewarding dogs for retrieving tennis balls with beacons in snack ball machines. As a result, gambling stores will not only have the ability to send instant messages to potential players nearby, but they will also be able to check how many people visited their store, how long they spent there, and how they moved around within the store. Later, these data points may be cross-referenced with transactional history, providing highly valuable insights.
Gambling operators should, however, be careful to avoid over-notifications and highly customized offers that might drive away customers. The digital age has made customers susceptible to swiping away advertisements without even noticing them.
