Data Driven Society

Virtual future of global gambling

 5-MINUTE READ

What is the future of entertainment for next generation? Augmented reality, mobile gaming, and mix of mobile and gambling addictions, are we ready for it?

Digitalising
the industry

Smart Homes, automated working place, driverless cars, everything to ease our lives and get ourselves more free time. Ideally, we wanted to release ourselves from monotonous duties for friends and family. However, in reality, people dive into a virtual world of games and internet, engaging in social media instead of live communication. Business and game developers do not stay aside and drive the industry up high. Tripling its volume since 2005, the online gaming market is expected to reach 41.4 billion U.S. dollars in 2015 and projected to have a bright-bright financial future. Online gambling is outperforming the cinema industry as for revenue. Moreover, it is forecasted that 40% of bets will be placed using smartphones in 2015. Mobile gambling is predicted to contribute 81% of the social casino's revenue by 2017.

Growing market volumes draw the attention of the governments and policymakers. Europe dominates the global industry and embeds the regulation of the online gambling with enviable speed for U.S. Meantime; online gambling is only starting to develop in Africa. Kenia was the first to regulate the online gambling in Kenia; South Africa awaited legalisation in 2014.

In the US three states - Nevada, Delaware and New Jersey, - have legalised the online gambling for their residents. The rest of the states can use the websites licenced in an online gambling jurisdiction outside of the US. For now, it is a big question mark whether the other states will follow legalisation suit or come a federal regulation. Attention to license and tax online gaming industry, countries oppose greater regulatory controls than ever before, and it is only beginning of new era.

Time to distinguish
gaming and gambling

While online casinos are lobbying their interests in the government, DraftKings and FanDuel are better off with the daily fantasy sports, at least for now. The fantasy sports leagues used to be the season friends game. However, today it is the online non-stop betting game. The Last Week Tonight with John Oliver reported that 91% of game's profits belongs to the top 1.3% of players for baseball. Moreover, as many as 85% of users playing online fantasy baseball are losers. The two leaders of the multi-billion industry claim that daily fantasy sports are games of skills while it is clearly the game of chance. New York Attorney General Eric T. Schneiderman says the daily fantasy sports websites constitute gambling and wants them banned from conducting business with New Yorkers. Is the ban a right way to tackle the problem? Driven by adrenaline rush, users will always find the way to gamble, so should not state protect them instead of pushing them to substitute the website?

Online hides a lot of dark secrets in it. Privacy issues connected with gathering the Big Data and a creation of personalised services are on the top discussions right now. Without any regulations, online casinos will have a much better profile of the players that the traditional Las Vegas. Why not start working out the strategies to protect customers using the data collection, before companies use the information to enlarge their pockets in an advantage of online and gambling addiction?

Casino in the
virtual world

Gen Z is the generation connected from birth, which will not know the life without the Internet. Today's children understand visuals better than texts, and their reality is firmly linked with technology on every corner. Entertaining for them is not the board games or playing football outdoors, their amusement lies in the virtual world. Taking it into account, there is no surprise that the gambling will go not only mobile but in virtual reality as well.

Already today, media channels release news in the mobile application with capability to watch in virtual reality on the phone, using the Google Cardboard for example. Oculus Rift, Morfeus from Playstation, Microsoft Hololens - all of the giants of gaming entertaining create the new reality for the next generation. The SlotsMillion has already put an eye on pioneering online casino experience in VR. Developing the virtual casino, the company worked closely with licensing jurisdiction of Malta. It is not a secret that online games and casinos dissolve the time flow for their clients. Therefore, Malta has insisted on putting the clock on the walls of the virtual casino. In addition, the regulators directed heavier privacy policies like hiding player's cash balance from other customers. Finally, let's have a look on the first virtual casino, remember, that might be the future of entertainment for the next generation:

Insight Box

Transforming the casino into global entertainment, gaming industry went online blending with virtual reality. Global society reacts accordingly regulating the industry. The next issues to be addressed is the mix of online and gambling addiction, as well as privacy issues is sensitive gambling business.

#mobile gambling #future of entertainment #virtual reality #data issues #future generations

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Nowadays humanity produces twice as much data as through all the time till 2007. Existence of massive volume of structured and unstructured difficult to process data is the game changer. Big Data is a statistical instrument with potential to improve world’s operations, increase its speed, make more intelligent decisions, and, consequently, forecast the future.

Punda investigates how Big Data influences on our daily life and business environment, which obstacles does it bring and ways to overtake them.

Eventually, world turns to data-driven society. It is essential to know how to operate and use the data we produce.

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